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Ns 3(1) and 35 of the Financial Institutions Act (FIA) 1992 PART A - PRUDENTIAL RULES 01 - Scope of banking business Savings and Credit Companies, herein referred to as financial companies, in category A1 of the class of non-bank financial institutions are authorized to engage in banking business covering: (1) acceptance of savings and time deposits and repaying such deposits on demand; (2) granting loans, credit and advances from deposits as provided under Section 2(1) of FIA 1992 in resp.

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