(1) A licensed financial institution shall not carry on any business except as provided in this section.
(2) A licensed financial institution may conduct one or more of the following activities —
(a) acceptance of deposits and other repayable funds;
(b) lending;
© financial leasing;
(d) investment in financial securities;
© money transmission services;
(f) issuing and administering means of payment including credit cards, travellers cheques, bankers' drafts, and electronic money;
(g) guarantees and commitments;
(h) the keeping and administration of securities;
(i) credit reference services;
(j) safe custody of valuables;
(k) electronic banking;
(l) payment and collection services;
(m) dealing in foreign currency; and
(n) any other services that the Central Bank may determine as banking practice.
(3) The Central Bank may by prudential standards issued under section 184 restrict the permissible activities of a licensed financial institution in general, or a class of licensed financial institutions, or remove the restriction so imposed as it considers appropriate.
(4) The conduct of permissible activities by a licensed financial institution shall be in accordance with any conditions imposed in a licence.