It is thus the intention of the Bank that contracts should be simple, short, and preferable designed to fit on one or two pages. The other key aspect of this Code will be to enforce good lending practices by banks to avoid over-indebtedness.
Banks will, therefore, be expected to act in the best interest of its customers by ensuring that they Know and Understand the customer’s needs, only offer them products and services that are suitable to such needs, and provide them with information to enable them to make informed choices.