1. Each Licensed Financial Institution shall be required to provide the Central Bank with the statements and reports relating to its financial position, in addition to providing it within a period not exceeding three (3) months from end of the financial year, or within such period as the Central Bank may specify, with a copy of the following: a. Audited balance sheet, showing use of assets and liabilities arising from operations of the concerned institution. b. Audited profit and loss account, and any related notes. c. Report of auditors of accounts of the concerned institution. d. Report of the board of directors of the concerned institution. 2. The Central Bank may also require the Licensed Financial Institution to provide the following: a. Copy of the interim profit and loss account, on semi-annual basis, or for other periods specified by the Central Bank. b. Any other additional reports, data or information it deems necessary. 3. No Licensed Financial Institution shall present the data and reports related to its financial position referred to in item (1) of this article to its general assembly meeting prior to obtaining the Central Bank’s approval. 4. Authorized Individuals shall promptly notify the Central Bank in case the concerned Licensed Financial Institution is exposed to serious financial or administrative situations compromising the rights of the customers, including Insured, and Beneficiaries, as applicable.
Interpretation and application must be checked against the official text and current version.