In fulfilling AMBD’s mandate to ensure financial stability, the Banking Unit under the Regulatory and Supervision Department administers and enforces the following legislations which provide legal and regulatory framework for the licensing
and supervision of all banks and finance companies: -
- Banking Order, 2006
- Islamic Banking Order, 2008
- Finance Companies Act, Chapter 89
- Hire Purchase Order, 2006
- ·International Banking Order, 2000
In discharging its responsibilities in the above regard, it strives to benchmark itself to the relevant international standards such as the Basel Core Principles, International Financial Reporting Standards and Islamic Financial Services
Board (IFSB Standards).
The Banking Unit license, regulate and supervise all banks and finance companies (both Islamic and conventional).
Islamic Banking Order, 2008
Islamic Banking Regulations, 2008