1. Licensed Financial Institutions may extend credit facilities to members of their boards of directors, their employees, or relatives of such Persons as determined by the Board of Directors. 2. The Board of Directors shall determine conditions and controls for credit facilities, which may be granted to the categories referred to in item (1) of this article. 3. A Licensed Financial Institution shall not take its own shares as collateral when providing credit facilities to its customers. 4. The Board of Directors shall issue regulations, to Licensed Financial Institutions, regarding the limits for credit facilities extended for the purpose of real estate, including construction of properties for residential or commercial purposes.
Interpretation and application must be checked against the official text and current version.