Banking Licence
The following kinds of licenses may be granted under this Act, namely:-
(a) Unrestricted “A” Class Offshore Banking Licence; and
(b) Restricted “B” Class Offshore Banking Licence.
16.-(1) No company shall apply for, or obtain, or be eligible to hold, an “A”
Class offshore banking licence under this Act unless it has at all times capital
equivalent to not less than five hundred thousand dollars or, in the case of a foreign bank, not less than twenty five million dollars. The capital shall be
expressed in dollars or in any other foreign currency as the Central Bank may
approve in writing.
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