Application to be made for license:

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If an institution, which has been registered with objective to carry out the act of financial intermediation, intends to carry out the act of financial intermediation pursuant to this Act, the institution has to make an application to the Bank in the prescribed format setting out the following details:
(a) Association registration certificate and the statute of the institution,
(b) Names, addresses and occupations of the office-bearers of the institution,
(c) Total number of members of the institution,
(d) Movable and immovable property of the institution,
(e) Geographical area where the institution intends to carry out the act of financial intermediation,
(f) Other matters as prescribed.

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