Regulation on Prudential Disclosure and Publication

REGULATION ON PRUDENTIAL DISCLOSURE AND PUBLICATION

Paragraphs of Arrangement

I PART
Preliminary
PARAGRAPH
......................................................................................................................................4Introduction 1. ..................................................................................................................................................4Title 2. ......................................................................................................................................4Application 3. ......................................................................................................................................4Commencement 4. ........................................................................................................................................4Definitions 5.

II PART
Policy of Statement
PARAGRAPH
.............................................................................................................................................4Purpose 1. ....................................................................................................................................5Responsibility 2.

III PART
Requirements Specific and Implementation
PARAGRAPH
.............................................................................................................................5AnnualStatements 1. ......................................................................................................................................5 Submission 2. ........................................................................................................................................5Publishing 3.

IV PART
Measures Corrective
PARAGRAPH
..................................................................................................6 Sanctions and Measures Remedial 1. ..........................................................................................................................................7APPENDIX

PRELIMINARY :I PART
Maldives (24/2010 .No Law of 66 Section to pursuant issued is Regulation This – Introduction 1:
.(Act Banking
".Disclosure and Publication on Regulation "as cited be shall Regulation This – Title 2:
Law (Act Banking Maldives the under licensed Banks all to applies Regulation This – Application 3:
.(24/2010 .no
2015. August 25 on effect into come shall regulation This – Commencement 4:
expressly where except ,shall Regulation this in used expressions and terms The – Definitions 5:
respective same the have ,requires otherwise context the where or Regulation this in below defined :(24/2010 .no Law (Act Banking Maldives the in as meaning .(24/2010 .no Law (Act Banking Maldives the means" – Act) "1 ( banking the in engage to ,Act the under permit or license a holding party a means" – bank) "2 ( .Act the of 25 Section in listed activities banking the of part or all; business income the and) sheet balance (condition of statement the means" – information financial) "3 ( information other any and ,data financial audited showing) statement loss-and-profit (statement .specify may MMA the that 6/81 .no Law the under established Authority Monetary Maldives the means" – MMA) "4 ( .(Act Authority Monetary Maldives(

POLICY OF STATEMENT :II PART information of content and form ,timing the specify to is regulation this of purpose The – Purpose 1:
more are banks of operations and condition the that so disclose and publish must banks that informed make and understand to able better are clients banking and public the and transparent .services banking of providers to regard in decisions

domestic a and bank domestic a of directors of board the of responsibility the is It – Responsibility 2:
accounting branch the and manager branch ofthe responsibility the and ,bank foreign a of subsidiary information financial basic disclose publicly and prepare to ,bank foreign a of branch a of manager informed more make can customers banking and public the that so branch or bank their about .services banking of providers about decisions

REQUIREMENTS SPECIFIC AND IMPLEMENTATION :III PART audited on based information financial annually prepare shall bank Each – statements Annual 1:
.Appendix the in shown content and form the in data financial of statement a and sheet balance a include shall information financial the :banks domestic For) a ( .data financial audited using prepared income consolidated a include shall information financial :banks foreign of orsubsidiaries branches For) b ( and sheet balance a also and ,bank foreign entire the for income of statement and sheet balance .basis alone-stand a on subsidiary or branch Maldives the for income of statement as data audited using prepared be shall above) b (and) a (in required s/statement the :date of As) c ( not by below provided as published be shall and year each of st31 December business of close of .year financial the of end the after months) four (4 than later submit shall ,bank foreign a of subsidiary or branch each and ,bank domestic Each – Submission 2:
than later not by above) 1 (Part in required information financial the of copies certified MMA the to .date statement st31 December the following months) four (4 each ,date statement st31 December the following months) four (4 than later Not – Publishing 3:
following the with comply shall bank foreign a of subsidiary or branch each and ,bank domestic :above) 1 (Paragraph in required information financial the to respect with requirements and; Maldives in circulation general of newspaper a in information financial the publish) a ( office head s’bank the of lobby the in information financial the available make or display) b ( banking provides bank the where Maldives in location any of lobby the in also and Maldives in or; public the to accessible readily manner a in or manner prominent in ,services .website local its on available made information financial the have) c (

MEASURES CORRECTIVE :IV PART associated person other any or ,administrators its ,bank a If – sanctions and measures Remedial 1:
and instructions the with comply to fails or ,regulation this of provision any violates bank the with corrective the of more or one any take may MMA the ,regulation this in requirements reporting and measures Such .Act the in provided as penalties administrative any impose or measures – following the of all or any ,include may penalties ;bank the to warning a Issue) a ( and unsafe any and violations correcting for bank the with agreement informal an into Enter) b ( ;conditions and practices unsound to further and actions particular from desist and cease to it requiring bank the to order an Issue) c ( ;conditions and practices unsound and unsafe any and violations correct to actions affirmative take ;funds capital additional inject to directors of board the Require) d ( foreign any on limitations imposing including bank the of activities of scope the Restrict) e ( borrowing ,deposits of acceptance ,investments of making ,credit of granting ,activities exchange ;appropriate deem may MMA the as activities other or ,money of ;MMA the of facilities credit the to access Suspend) f ( ;officers executive or directors any of removal or suspension the Require) g ( ;conservator a or advisor an Appoint) h ( or officers executive ,directors its of any or bank the on penalty administrative an Impose) i ( ;managers executive ,directors any ,allows law the as ,from restitution seek and liable personally Hold) j ( or; bank the of shareholders major or officers .license s'bank the revoke or Suspend) k ( ,Stability Financial of Head the to addressed be should regulation this to relating Questions .Authority Monetary Maldives

APPENDIX
CONDITION OF STATEMENT CONSOLIDATED
(bank foreign of subsidiary and ,bank foreign or domestic for( ( s’000 MVR in; xx20 ,st31 December of as( Equity and Liabilities Assets :Deposits banks from due and Cash bearing interest-Non banks other in deposits bearing-Interest bearing Interest net ,sold funds Excess deposits Total securities Investment payable interest Accrued Loans money Borrowed losses loan for allowance :Less liabilities Other loans Net receivable interest Accrued Liabilities Total net ,equipment and Premises :Accounts Capital assets Other capital in-Paid earnings Retained Accounts Capital Total Equity and Liabilities Total Assets Total INCOME OF STATEMENT CONSOLIDATED (bank foreign of subsidiary and ,bank foreign or domestic for( ( s’000 MVR in; xx20 ,st31 December of as( :Income Fee and Interest loans on fees and Interest banks other in deposits on Interest securities investment on Interest sold Funds Excess on Interest Income Interest Total :Expense Interest deposits Checking deposits Savings deposits Time money Borrowed Expense Interest Total Income Interest Net losses loan for Provisions losses loan for provisions after income interest Net :Income Operating Other deposits on fees and charges Services income Other :Expenses Operating Other benefits employee and Salaries expenses Occupancy expenses other and administrative ,General taxation before Income Net taxes Income :Less Income Net Dividends :Less accounts capital to) reductions (additions Other Period for Accounts Capital in Change Net

CONDITION OF STATEMENT BRANCH
( s’000 MVR in; xx20 ,st31 December of as(
Equity and Liabilities Assets
:Deposits banks from due and Cash bearing interest-Non banks other in deposits bearing-Interest bearing Interest securities Investment deposits Total Loans payable interest Accrued losses loan for allowance :Less Office Head – money Borrowed loans Net Other – money Borrowed receivable interest Accrued liabilities Other net ,equipment and Premises Liabilities Total assets Other capital Assigned or Office Head from Due Office Head to Due Branches Affiliated Equity Office Home Total Equity and Liabilities Total Assets Total INCOME OF STATEMENT BRANCH ( s’000 MVR in; xx20 ,st31 December of as( :Income Fee and Interest loans on fees and Interest banks other in deposits on Interest securities investment on Interest Income Interest Total :Expense Interest deposits Checking deposits Savings deposits Time office head – money Borrowed money borrowed Other Expense Interest Total Income Interest Net losses loan for Provisions losses loan for provisions after income interest Net :Income Operating Other deposits on fees and charges Services income Other :Expenses Operating Other benefits employee and Salaries expenses Occupancy expenses other and administrative ,General taxation before Income Net taxes Income :Less Income Net Office Head to Transfers :Less accounts capital to) reductions (additions Other Period for Accounts Capital in Change Net

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