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W 19/05 PIB — Persia International Bank Plc

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WAIVER NOTICE

To Persia International Bank Plc
Address Level 4, The Gate Building, PO Box 119871, Dubai, UAE
DFSA Firm Reference No. 10008
Notice No. W 19/05

THE DFSA HEREBY GIVES NOTICE THAT:

The Rules specified in the table herein do not apply to the above mentioned Person.

This notice is issued by the DFSA under Article 25 of the Regulatory Law 2004.

Effective Date: This notice comes into effect on 2 August 2005 and remains in effect until further notice.

RULES WAIVED

The Rules waived are set out in the table below and Table 2 in PIB chapter 1 is to be construed accordingly.

DFSA Rulebook Module Version rule
PIB/VER1/255/09-04 PIB Chapter 1, Section 1.2 & 1.4 (Financial Resources & The Trading Book)
PIB/VER1/255/09-04 PIB Chapter 2, all Sections (Capital)
PIB/VER1/255/09-04 PIB Chapter 4, Sections 4.3 to 4.10 (Credit Risk)
PIB/VER1/255/09-04 PIB Chapter 5, Sections 5.3 to 5.9 (Market Risk)
PIB/VER1/255/09-04 PIB Chapter 7, Sections 7.3 and 7.4 (Group Risk)

CONDITIONS

The waivers in respect of the Rules specified above remain in effect for the duration of the period set out above on condition that Persia International Bank Plc submits to the DFSA a copy of the Financial Services Authority’s (FSA’s) Section D Capital Adequacy Summary every quarter; to be submitted to the DFSA within ten days of the due date to the FSA.

INTERPRETATION

The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

This notice was issued by:
Name : David Knott
Position : Chief Executive
Date : 2 August 2005