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01/01/2021 | Customers are requested to call Bank's Toll free No. 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. 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. Stored value facilities are channels through which users can store money digitally and be used to pay for goods and services. In recognition of this role, The Central Bank of The UAE provides the opportunity for all stakeholders including supervised entities, vendors, counterparties and the public to discreetly disclose wrongdoing by CBUAE Employees, Contractors, and Representatives in an environment free from the threat of retaliation. 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. A financial investment company should be a juridical person with a minimum capital of AED 25 million liable to be increased according to the business the company intends to undertake. The new Law reinforces the role of the Central Bank to … To aid the UAE government's efforts to position the UAE as a leader in digital services, on 1 January 2017, the UAE Central Bank published the Regulatory Framework For Stored Values and Electronic Payment Systems (the "EPS Regulations"). Whistleblowing plays a critical role in keeping our Institution honest, efficient and responsible. @cb-uae.ae,cbuae-ae.com). The Services Portal has been designed to assist you to participate in Central Bank services in a more convenient way. Central Bank issued Regulations regarding the Licensing and Monitoring of Exchange Business (the Exchange Business Regulations) in January 2014, with the aim of improving … The EPS Regulations apply to businesses providing digital payment services in the UAE. Jan. 2021 . Banco de Portugal is the central bank of the Portuguese Republic. UAE only allows businesses to set up shop in the country if they are sponsored by a local UAE national who should hold at least a 51% majority stake in the company. Procedure and requirement to open a bank account may differ from bank to bank. Today the CBC is governed by the Central Bank of Cyprus Law, 2002 as … 6 of 1985 regarding Islamic banks, financial institutions and investment companies, List of financial and monetary intermediaries, List of financial investment companies operating in the UAE, List of finance companies operating in the UAE, Non-Financial Anti Money Laundering/Anti-Terrorist Financing (AML/CFT) Regulations - DIFC, Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Policy, and Process - Dubai Multi Commodities Centre, Download the ALHOSN UAE contact-tracing app, Maintain physical distance; stay 2 meters (6 feet) away from others, Wash your hands regularly for at least 20 seconds and sanitise them often, Wear masks and gloves inside your homes if you are ill or are taking care of a sick person, avoiding contact with objects that may have been touched by others, cleaning and disinfecting surfaces like countertops, door handles, furniture, toys, phones, laptops, remotes and anything else you use regularly, several times a day, Follow the precautionary measures at your workplace, Trust information only from government authorities, Shake hands or hug and kiss to greet someone, Touch your face unnecessarily; particularly your eyes, nose and mouth, Travel in a car that has more than 3 people, Opening investment accounts and managing portfolios on behalf of others, whether individuals or companies, Preparing feasibility studies for projects and marketing allotments and stocks of shareholding companies, Establishing and/or managing investment trust funds, Establishing and/or managing other investment funds and acting as trustee of funds entrusted to it by a trust to manage on behalf of a beneficiary, Subscribing to companies capital and participating in syndicated loans. The UAE Central Bank amended the rules related to personal loans and other services provided to individuals. The CBUAE can take no responsibility for losses arising from these sites, services or documents. The resolution also requires that the national shareholding should not be less than 51 per cent of the paid-up capital, in addition to other terms and conditions set forth in the regulation. The Central Bank's Board of Directors' Resolution No. 1800 22 1911 for blocking their accounts in case of lost debit card / unauthorized transaction through digital mode. Welcome to Central Bank of the UAE (CBUAE) Services Portal. The Central Bank of the UAE (CBUAE) advises caution against responding to fraudulent e-mails and internet postings purporting to be legitimate CBUAE communications and postings. Dec. 2020. 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. directors of the UAE Central Bank, which licence must be renewed annually. Getting started with your Central Bank of the UAE Representative Office Licence. 10 of 1980 and branches of foreign banks are licensed by Central Bank to operate in the UAE as per the same law. 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. Licenses are regularly issued within four to five business days. 58/3/96 dated 14 April 1996 and Resolution No. 1.3 Violating rules of usage, system or network shall expose the involved person to civil and criminal liability. Fraud and corruption can be averted and reputations protected if timely information is received and acted upon. The Central Bank is the sole authority with the power to regulate existing and future digital payment mechanisms onshore in the UAE. Central Bank of The UAE shall reserve the right to make any minor or major change of privacy policy Terms and Conditions from time to time without any prior notice. 10 of 1980. Extend advances and/or personal loans for personal various consumption purposes, Finance trade and business, opening credit and issuing guarantees in favour of customers, Subscribe to the capital of projects and/or issues of stocks, bonds and/or certificates of deposit. The issuance of any such new regulations, decision or circulars by the UAECB shall not have any retroactive effect. 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. In Person at our HQ offices – CBUAE Compliance Unit, In writing to Compliance Unit/ CBUAE PO Box 854, Abu Dhabi, UAE. To open a bank account, citizens need to provide a copy of their family book, a salary letter or a letter of NOC (No Objection) from the employer. In line with the Central Bank of the UAE’s continuous efforts to advance its services, supported by a robust digital transformation strategy, advanced regulations and prudent oversight, we have shifted our licensing processes for all financial and banking services entities to a digital format. Central Bank of the UAE, however, grants licence to brokerage firms dealing in currencies and commodities as well as intermediating in currency market transactions. If you do that, we shall use such details only to process your application for obtaining information or services. Dear Customer, Please furnish cheque issuance details through Branch/Net Banking for amount of Rs.5 lac and above – It is Mandatory under RBI Positive Pay System w.e.f. The plan includes 7 key pillars and 46 strategic initiatives. 10 of 1980 and branches of foreign banks are licensed by Central Bank to operate in the UAE as per the same law. Pages of this Website shall be uploaded within the full window of the user or as a new one. Citizens and expatriate residents can open a joint account with another legitimate resident of the UAE. The Central Bank of the UAE (CBUAE) is responsible for the regulatory oversight of the UAE’s banking industry which includes the supervision of banks, investment banks, banking intermediaries, money exchanges and wealth management firms. Trade License Renewal/Change As per the UAE Central Bank regulation, Banks are required to retain a copy of the Valid Trade License of all the Companies maintaining Accounts with them. 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