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Provisions for Credit Cards

C 28/2010 Effective from 11/11/2010
  1. Where balance due is in arrears for (90) days:
     

    a provision of 25% of loan balance will be made.

  2. Where balance due is in arrears for (120) days:
     

    a provision of 50% of balance will be made.

  3. Where balance in arrears exceeds (180) days, and it became unfeasible to reach a settlement with the client, or that he left the country without leaving assets which cover the loan balance or part of it:
     

    a provision of 100% will be required.