6.3 Any dispute arising out of or in connection with the Terms and Conditions shall be subject to the jurisdiction of the competent courts in the UAE. The UAE Central Bank amended the rules related to personal loans and other services provided to individuals. 5.4 Central Bank of The UAE may take the appropriate measures to protect the Website against any loss, abuse or change of information available on the Website, in which case the Central Bank shall not be liable for any damage caused to the user or any other person as a result of disclosure of confidential information shared through the Website. The minimum capital was set at AED one or two million depending on the scope of activities the company wishes to undertake. When remitting money through moneychangers, they need to provide a copy of their Emirates ID and proof of income in some cases. Huobi MENA seeks licences from ADGM and Bahrain. Notwithstanding that the 1980 Union Law has been repealed and replaced by the Law, all current Central Bank regulations and circulars shall remain in full force and effect until replaced with equivalent regulations and circulars under the Law. Central Bank of the UAE regulates the following: There are several locally established banks and branches of foreign banks offering commercial banking services in the UAE. Huobi MENA Seeks licenses from ADGM UAE and Bahrain Central Bank Huobi MENA Seeks licenses from ADGM UAE and Bahrain Central Bank. The company should have a national shareholding of a minimum of 60 per cent of the total paid-up capital. The CBUAE is aware that its name and that the names of some of its employees are sometimes used to progress different forms of fraud, perpetrated against third parties. Getting started with your Central Bank of the UAE Representative Office Licence. The plan includes 7 key pillars and 46 strategic initiatives. You are browsing the website using an unsupported browser! Licenses are regularly issued within four to five business days. New applicants are required to contact CBUAE at an early stage requesting to hold the pre-requisite meeting to discuss their plans by writing to. Central Bank of The UAE may take the appropriate measures to protect website against any loss, abuse or change of information available on the website on the condition that Central Bank of The UAE shall not guarantee to maintain confidentiality of the website contents. Central Bank of The UAE shall not be liable for any contents provided on these websites, their improper usage on the part of any person or proper function or any problems arising due to their usage. Moreover, the authorized staff may only access the personal identity information, where such staff pledged to maintain confidentiality of the information provided. Central Banking Newsdesk; 04 Nov 2019; Tweet . 2.5 Any unauthorized use, reproduction or printing of the information, materials and proprietary rights contained in this Website is strictly prohibited. Individuals providing information can be assured that information received will be evaluated and acted upon as necessary. These fraudulent materials use the CBUAE’s name, logo and address, as well as names of our staff and management from time to time – all without CBUAE’s permission. In Person at our HQ offices – CBUAE Compliance Unit, In writing to Compliance Unit/ CBUAE PO Box 854, Abu Dhabi, UAE. Speech delivered by His Excellency Dr. Mohammad Y. Al-Hashel, Chairman of the Higher Steering Committee for Economic Stimulus, Governor, Central Bank of Kuwait, on June 4, 2020 held in the State of Kuwait. Some of these scams are attempts at identity theft, including fraudulent emails, faxes, including copies of our website. The website title shall not collect personal information about you when accessing the website unless you choose specifically and willingly to provide such information to us. Please notify us if the fraud involves a misuse of the CBUAE’s name or logo, or the name of any CBUAE employee, or a fake email address or emails purporting to be from the CBUAE. CBUAE’s licensing regime does not currently require the payment of any fees for new license applications. The CBUAE requests you to be alert and always confirm the authenticity of any emails or documents you receive that purport to be from the CBUAE. The CBUAE cannot and will not honor any commitments or promises made by fake employees, imposters or unauthorized individuals. List of banks and other financial institutions licensed to conduct banking, financial, investment brokerage and money changing activities. Finance companies undertake one or more of the following major financing activities: However, contribution of the financing company to the capital of projects, issues of stocks and/or bonds, or certificates of deposit should not exceed 7 per cent of its own capital. The Central Bank’s copyright symbol (© Central Bank of the UAE) must appear on any material reproduced, saved, printed or otherwise distributed from this Website. The issuance of any such new regulations, decision or circulars by the UAECB shall not have any retroactive effect. This page covers the types of banks, finance companies and intermediaries licensed to operate in the UAE. 2.3 You may download or print information and material from this Website for personal use, use within an organization or non-commercial use. Most of the licensed financial consultants are also regulated as investment companies under the Central Bank Board of Directors regulation number 164/8/94. 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