1.2 Objective of the Rules
Effective from Nov 23 2020 - Jun 30 2021
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| The main objectives of these Rules are to enable finance companies to: | ||
| i. | Evaluate the degree of credit risk associated with exposures; | |
| ii. | Prudently value exposure portfolio; | |
| iii. | Determine and make adequate provisions for expected credit losses following robust governance; and | |
| iv. | Achieve uniformity and consistency in exposure classification and provisioning methodologies. | |