Rule · MMA · 28 Jul 2013

Circular CN-BSD/2013/3: Credit Card Charges

The Central Bank of Sudan issued Circular CN-BSD/2013/3 to mandate enhanced transparency in credit card billing practices. All banks are required to include specific details in credit card statements, such as minimum payments, total interest, late fees, other charges, and exchange rates. This directive ensures consumers receive a clear breakdown of costs associated with their credit card transactions.

MaldivesMaldives Monetary Authority

Circular no: CN-BSD/2013/3

28th July 2013

To: All Banks

Dear Sirs,

Credit Card Charges

In order to be more transparent, all banks are required to show details and breakdowns of credit card bills, including the following at a minimum, in the credit card statements:

minimum payment required
the total interest amount charged
late payment fees, if any
other charges, if any
exchange rate used in billing for each transaction

Yours sincerely,

[Signature] Neeza Imad Assistant Governor Financial Stability

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