Recovery Planning Regulation
| المحتويات CONTENTS | |||
|---|---|---|---|
| Subject | الصفحة Page | الموضوع | |
| Introduction | 3 | مقدمة | |
| Scope of Application | 3 | نطاق التطبيق | |
| Circular No.: | 4/2023 | 2023/4 | تعميم رقم : |
| Date: | 30/10/2023 | 2023/10/30 | التاريخ : |
The purpose of the recovery plan is to prepare a Financial Institution to be more resilient to periods of severe financial stress and guide it to stabilize itself and restore its financial position and overall viability.
The recovery plan is an important crisis preparedness and management resource. It must be designed with a view to its implementation in distressed situations and must not be treated as a compliance exercise.
This Regulation is issued pursuant to the powers vested in the Central Bank under the provisions of the Decretal Federal Law No. (14) of 2018 Regarding the Central Bank & Organisation of Financial Institutions and Activities, as amended and Federal Law No. (6) of 2007 Concerning Organizing of Insurance Operations, as amended.
This regulation applies to Financial Institutions, which includes the following for the purpose of this re...