Article 5: License Application

The applicant for a license to practice finance support activities shall submit the license application to the bank. The request shall specify the activities to be licensed, and shall be attached with the following: 1. a completed license application in the form provided by the bank; 2. Memorandum of incorporation and articles of association (if any) of the company; 3. a list of founding members or shareholders and partners and the shares they own in the company and the percentage thereof; an irrevocable bank guarantee , if the applicant is a company in the process of incorporation, with an amount equivalent to the minimum capital for the support activity(ies), issued in favor of the bank by a domestic bank and automatically renewed until the capital is paid in full. This guarantee shall be released upon the request of the founding members in the following cases: i. if the capital is paid in cash; ii. if the license application is withdrawn; or iii. if the license application is rejected by the bank. 4. draft agreements and proposed contracts with third parties; and 5. Any other documents, data, and information required by the bank.