Article (7) Prohibitions
A representative office operating in the country is prohibited from conducting any business activities other than those mentioned in Article (6) above, particularly the following: | ||
| a) | Accepting deposits in any form whatsoever; | |
| b) | Opening accounts of any kind to clients; | |
| c) | Extending loans or advances to any party whatsoever; | |
| d) | Performing and/or participating in any other normal banking operations, such as issuing Letters of Guarantee, opening Letters of Credit, etc. | |
| e) | Dealing in foreign currencies, securities and metals. | |