Regulatory Alerts2022-01-01
The Banking and Financial Institutions (Financial Leasing) Regulations, 2022
The Governor issued these regulations under the Banking and Financial Institutions Act to establish a licensing framework for bank-led financial leasing operations. The rules define eligibility criteria, streamline the license application process including fees and business plan submissions, and mandate standardized asset classification categories ranging from current to loss. Financial leasing entities must secure regulatory approval through this structured application process while maintaining compliance with the prescribed asset quality standards.
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