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II. Definitions

C 52/2017 STA يسري تنفيذه من تاريخ 1/12/2022

In general, terms in this Standard have the meanings defined in other Regulations and Standards issued by the Central Bank. In addition, for this Standard, the following terms have the meanings defined in this section.

  1. a.Operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events. Operational risk includes legal and compliance risk but excludes strategic and reputational risk.
  2. b.Gross income: net interest income plus net non-interest income, as defined by the Central Bank and/or applicable accounting standards. This measure should:
    • •Be gross of any provisions (e.g., for unpaid interest);
    • •Be gross of operating expenses, including fees paid to outsourcing service providers but excluding fees received by banks that provide outsourcing services (i.e., such outsourcing fees received shall be included in the definition of gross income);
    • •Exclude realised profits/losses from the sale of securities in the banking book (such as securities classified as “held to maturity” and “available for sale” under IFRS, which typically constitute items of the banking book); and
    • •Exclude extraordinary or irregular items as well as income derived from insurance.
  3. c.Loans and advances: drawn amounts on credit facilities provided by banks to borrowers.