Regulatory Alerts2020-05-15
Transfer of Significant Shareholding Regulation
The Central Bank of the United Arab Emirates issued this regulation to establish minimum standards for the transfer of significant and controlling shareholdings in banks operating in the UAE. It mandates that any person obtaining, increasing, or divesting a shareholding equal to or exceeding five percent must first obtain prior written approval from the Central Bank. The document further outlines the application process, definitions of controlling and significant shareholders, and the requirement for banks to maintain accurate shareholder registers and report relevant changes.
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