The Regulation of Financial and Money Brokers (UAE, Board of Directors Resolution No. 126/5/95)
UAE, The Central Bank Board of Directors Resolution No. (126/5/95) Regarding the Regulation of Financial and Money Brokers
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Central Bank Resolutions Information
UAE Central Bank resolutions are issued by the Central Bank of the UAE in exercise of regulatory and supervisory powers conferred by the federal Banking Law and related legislation. The Central Bank uses board resolutions, regulations, standards, and notices to license and supervise banks, finance companies, exchange houses, payment service providers, and stored value facility operators. Its rule-making also covers the framework for credit, capital adequacy, liquidity, large exposures, related-party transactions, outsourcing, and consumer protection.
The translations on this page include Central Bank standards on AML and counter-terrorist financing supervision, payment system regulations, retail and corporate consumer protection regulations, and rules governing emerging activities such as stored value facilities and virtual asset service providers connecting to licensed banks. They are read together with the federal Banking Law collected on UAE laws in English.
Who is bound by Central Bank resolutions?
Licensed financial institutions in the UAE — banks, finance companies, exchange houses and, under the current framework, insurers. For anyone else they matter indirectly: they define what your bank can and cannot do for you, from account opening requirements to lending limits.
Which law do these resolutions sit under?
Currently the Central Bank and Organisation of Financial Institutions law of 2018; older resolutions were issued under the 1980 banking law it replaced. Instruments from before 2018 remain relevant for matters that arose under the old regime.