Instructions Concerning Robbery and Embezzlement Acts

A) Instructions to notify the Central Bank of any embezzlement of the Islamic banks funds. B) Circular concerning the actions to be taken for ensuring the protection of properties and people against the risks of armed robbery.

31- INSTRUCTIONS CONCERNING ROBBERY AND EMBEZZELMENT ACTS

CHAPTER TWO: The law, supervisory & Regulatory Instructions & Control on Islamic Banks 31- INSTRUCTIONS CONCERNING ROBBERY AND EMBEZZELMENT ACTS A) Instructions to notify the Central Bank of any embezzlement of the Islamic banks funds. 1 GOVERNOR Ramadhan 15, 1424H November 10, 2003 Circular No. (2/IBS/120/2003) To All Islamic Banks THE CHAIRMAN, Instruction to Notify the Central Bank of Any Embezzlement of the Islamic Banks Funds It has been noticed that the embezzlements of the banks funds, which occur from time to time, are notified to competent Judicial authorities, while the Central Bank comes to know about such cases only through newspapers or from unofficial sources. Therefore, you are kindly requested to inform the Central Bank promptly upon any embezzlement of your bank’s funds, and of the names of accused employees, together with the resolutions of the competent judicial authorities in this respect. With my best wishes, SALEM ABDUL AZIZ AL SABAH

CHAPTER TWO: The law, supervisory & Regulatory Instructions & Control on Islamic Banks 31- INSTRUCTIONS CONCERNING ROBBERY AND EMBEZZELMENT ACTS B) Circular concerning the actions to be taken for ensuring the protection of properties and people against the risks of armed robbery. 2 GOVERNOR Ramadhan 15, 1424H November 10, 2003 Circular No. (2/IBS/128/2003) To All Islamic Banks THE CHAIRMAN, Actions to be taken for ensuring the protection of Properties and people against the risks of armed robbery This has reference to the Council of Minister’s Resolution No. (704) concerning armed robbery incidents, and which provides that all competent authorities of the State should take necessary measures that ensure the protection of human beings and properties and the prevention of such incidents . Your bank must take all precautionary measures to ensure the protection of your employees and properties of all kinds against the risks of these incidents. The following is a list of the precautionary action proposed by Ministry of Interior, for your appropriate actions to implement them. Precautionary Actions for Fighting Armed Robbery Incidents : 1- A closed TV circuit should be installed in banks head offices and all their branches, so as to record all happenings inside and outside these premises, particularly the entrances for staff and visitors as well as the ATM’s Machines. The Monitors of such circuits should be operated and supervised by qualified and experienced security staff, whose task will be to monitor all the incidents recorded on the video tapes round the clock. 2- Banks head offices and all their branches should be linked to operations department of Ministry of Interior through a direct telephone line, in order to promptly notify them of any robbery incident the bank may be exposed to. 3- Banks staff should be trained on security measures to be applied in the event of any attack aiming at looting or robbery.

CHAPTER TWO: The law, supervisory & Regulatory Instructions & Control on Islamic Banks 31- INSTRUCTIONS CONCERNING ROBBERY AND EMBEZZELMENT ACTS B) Circular concerning the actions to be taken for ensuring the protection of properties and people against the risks of armed robbery. 3 4- Banks internal guard services should be assigned to internal security staff by recruiting the services of specialized security companies. Such security employees should be distributed on all banks main gates, entrances, exits and passageways. Their responsibilities will be to monitor those whose behaviour and action are suspicious. The security staff should be provided with modern communication instruments, enabling them to notify the security officer of all acts that raise doubt and suspicion, in order for him to promptly notify the authorities of any incident the bank staff and customers may encounter. 5- Banks should use the alarm systems, so as to detect any attempt of robbery and force entry. With my best wishes, SALEM ABDUL AZIZ AL SABAH