1. Each deposit-taking Licensed Financial Institution shall prepare a quarterly statement, in the form specified by the Central Bank, indicating all credit and funding facilities granted by such institution to: a. Any member of its board of directors. b. Any establishment or company where the concerned institution is a partner, manager, agent, guarantor or sponsor. c. Any company where a member of the board of directors of the concerned institution is a manager or agent to this company. d. Any company where an employee, expert or representative of the concerned institution is a manager, executive officer, agent, guarantor, or sponsor to such company. e. Any Person holding controlling interest in the capital of the concerned institution, or a related company, as per the provisions of Article (120) of this decree-law. f. Any subsidiary of the group, which owns the concerned institution. g. Any company related to the concerned institution, as per the controls set by the Board of Directors. h. Any Person, directly or indirectly related to any member of the board of directors of concerned institution, as per the controls set by the Board of Directors. i. Any other Person specified by the Board of Directors as per the controls it sets in this regard. 2. The Central Bank shall be provided with copy of the statement referred to in item (1) of this article, within a period of ten (10) working days from end of each quarter of the financial year, or from the date of a request made by the Central Bank. 3. The Central Bank may take one or more of the actions listed hereunder, if it decided, following review of the statement referred to in item (1) of this article, that any of the credit or funding facilities extended by the Licensed Financial Institution or any exposure to a particular Person may result in damage to the interests of depositors of the concerned institution: a. Require the concerned institution to allocate provisions for these facilities, or reduce its exposure to a particular Person, within such period and as per such mechanism as it determines. b. Prohibit the concerned institution from extending further credit facilities to the concerned Person, or impose specific restrictions on facilities extended to this Person, as it deems appropriate.
Interpretation and application must be checked against the official text and current version.