Circular on Investment Placements with Local and Foreign Banks and Financial Institutions

19- CIRCULAR CONCERNING INVESTMENT PLACEMENTS WITH BOTH LOCAL AND FOREIGN BANKS & FINANCIAL INSTITUTIONS

CHAPTER TWO: The law, supervisory & Regulatory Instructions & Control on Islamic Banks
19- CIRCULAR CONCERNING INVESTMENT PLACEMENTS WITH BOTH LOCAL AND FOREIGN BANKS & FINANCIAL INSTITUTIONS

1
GOVERNOR
Ramadhan 15, 1424 H
November 10, 2003
Instructions No. (2/IBS/110/2003)
“Circular to All Islamic Banks”
THE CHAIRMAN,
Investment Placements with Banks and Financial Institutions With reference to the rule of Item (Sixth/1) of the Central Bank of Kuwait’s instructions concerning the maximum limit for the liabilities of anyone single customer towards an Islamic bank, whereby the financing obligations granted to banks were exempted from such limits, on condition that the banks exercise care and caution in this regard, in particular when determining the maximum finance concentration limits for each bank separately. Kindly provide us with the maximum finance concentration limits policy applied by your bank for the finance facilities granted to local or foreign banks, alongwith a detailed quarterly statement showing the size of the actual concentrations of local or foreign banks toward your bank, using the attached two forms. With my best wishes, SALEM ABDUL AZIZ AL SABAH

CHAPTER TWO: The law, supervisory & Regulatory Instructions & Control on Islamic Banks Central Bank of Kuwait Supervision Sector Off-Site Supervision Department (Off-Site Supervision Section) Investment Placements With Local Banks and Financial Institutions As at ----/----/---------* Bank’s Name : (Islamic Banks) (in thousand KD) Finance Transactions Financial (5) Collaterals Provided Cash Non-cash Participations (shares) Name of Local Bank or Financial Institution Investment Accounts (1) Certificates of Deposit (2) Granted (3) Used Granted Used (4) Amount % Finance Sukuk Others Total Placements (6) (1+2+3+4+5) Type Value 1- 2- 3- 4- 5- 6- 7- 8- 9-
10-
Total

• Quarterly Statement
  Represents the percentage of participation in the capital of the bank / financial institution 19- CIRCULAR CONCERNING INVESTMENT PLACEMENTS WITH BOTH LOCAL AND FOREIGN BANKS & FINANCIAL INSTITUTIONS 2

CHAPTER TWO: The law, supervisory & Regulatory Instructions & Control on Islamic Banks Central Bank of Kuwait Supervision Sector Off-Site Supervision Department (Off-Site Supervision Section) Investment Placements With Foreign Banks and Financial Institutions As at ----/----/---------* Bank’s Name : (Islamic Banks) (in thousand KD) Finance Transactions Financial (5) Collaterals Provided Cash Non-cash Participations (shares) Name of Foreign Bank or Financial Institution Country Investment Accounts (1) Certificates of Deposit (2) Granted (3) Used Granted Used (4) Amount % Finance Sukuk Others Total Placements (6) (1+2+3+4+5) Type Value 1- 2- 3- 4- 5- 6- 7- 8- 9- 10-
Total

• Quarterly Statement
  Represents the percentage of participation in the capital of the bank / financial institution 19- CIRCULAR CONCERNING INVESTMENT PLACEMENTS WITH BOTH LOCAL AND FOREIGN BANKS & FINANCIAL INSTITUTIONS 3