We, Ammar bin Humaid Al Nuaimi, Crown Prince of the Emirate of Ajman
- Having reviewed Ajman Law No. 3 of 2024 Concerning Taxation on Foreign Banks Operating in the Emirate of Ajman;
- Ajman Royal Decree No. 11 of 2011 Promulgating the Financial Law of the Government of Ajman and its Executive Regulations;
- Ajman Royal Decree No. 15 of 2012 Concerning the Ajman Finance Department and its amendments;
- Ajman Emiri Decree No. 5 of 2017 Concerning the Financial Control Authority in Ajman;
- based on the approval of the Legislative Committee
have issued the following decision:
a. Without prejudice to any more severe penalties stipulated in any other legislation, this Decision approves the administrative violations and fines for foreign banks, as specified in the table attached to this decision.
b. The value of the fine specified in the table attached to this decision shall be doubled in the event of a repeat of the same administrative violation within two years from the date of the pr...