Regulatory Alerts2019-06-26
Bahamas Co-Operative Credit Unions Regulations 2015
The Central Bank of The Bahamas issued these regulations to establish comprehensive operational and financial standards for co-operative credit unions. The rules mandate specific loan amortization periods, interest accrual limits for past-due accounts, and strict conflict-of-interest disclosures for loans granted to directors, officers, and employees. Additionally, the regulations define impairment assessment methods, establish mandatory monthly provisions for doubtful loans, and outline the Apex Body’s management of statutory reserves, liquidity, and stabilization funds.
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