Regulatory Alerts2022-05-15
Restricted Licence Banks Regulation
The Central Bank of the United Arab Emirates issued this regulation to establish a specific licensing framework for banks operating with restricted activities in the UAE. The rule prohibits these institutions from providing retail banking services to natural persons and mandates a minimum transaction threshold of one million Dirhams for all customer relationships. Additionally, the regulation imposes a minimum paid-up capital requirement of one billion Dirhams and outlines strict licensing, capital maintenance, and enforcement procedures.
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