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Location: Central Bank of Bahrain Volume 3—Insurance > Part A > Business Standards > CA Capital Adequacy > CA-8 Takaful and Retakaful > CA-8.4 Capital Adequacy and Solvency > Qard Hassan Transition Rules > CA-8.4.16
  • Qard Hassan Transition Rules

    • CA-8.4.16

      Where a Qard Hassan has been granted for solvency purposes under the Rules in place at that time, the amount of Qard Hassan will be written off and/or repaid over a period not exceeding 5 years and disclosed as an off-balance sheet item (see Paragraph PD-1.1.13A) and not included as part of available capital for solvency purposes.

      Added: April 2014

    • CA-8.4.17

      Where Paragraph CA-8.4.16 applies, should the participants' fund for which the Qard Hassan was originally granted generate a surplus during the course of the write-off period, such surplus may be used to repay any part of the portion of the Qard Hassan that has not been written off, subject to the CBB's prior written approval.

      Added: April 2014

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