BOD-RES 57/3/1996 Issued on 14/4/1996
Status: In-Force
The Chairman of the Board of Directors,
Having perused Union Law No. (10) of 1980, regarding the Central Bank, the monetary system, and organization of the banking profession, particularly Articles 11, 12, 18, 77, 120, 121, 122 and 123,
And Union Decree No. (80) of 1995, regarding the formation of the Board of Directors of the Central Bank,
And the Board of Directors' resolution, taken in its meeting on 14/4/1996,
The following has been decided:
1.1 For the purpose of this resolution:
a) 'Board of Directors' shall mean the Board of Directors of the Central Bank.
b) 'Governor' shall mean the Governor of the Central Bank.
c) 'Representative Office' shall mean the Office which represents a foreign bank or any other foreign financial establishments in the country.
d) 'Licence' shall mean the licence issued by the Central Bank, allowing the licensee to conduct the business of representative office.
e) 'Licensed Financial Establishment' shall mean the foreign bank or any other foreign financial establish...