NOT IN FORCE, abrogated by Cabinet Decision No. 25 of 2025
The Cabinet
- Having reviewed the Constitution,
- Federal Law No. 1 of 1972 on the Competences of Ministries and the Powers of Ministers, and its amendments,
- Federal Decree-Law No. 7 of 2011 On the Establishment of the Emirates Development Bank,
- upon the approval of the Cabinet,
has decided:
In the application of the provisions of this Decision, the following words and phrases shall have the meanings indicated next to each of them unless the context requires otherwise:
Bank: Emirates Development Bank.
Board of Directors: The Board of Directors of the Bank.
Debt write-off: Any action taken by the Bank for the purpose of reducing or cancelling the entire value of non-performing credit facilities or any part thereof, by repaying them using the special bad credit provisions or by charging the profit and loss accounts for the current financial year.
For the purposes of implementing the provisions of this Decision, a debt is considered bad if the Bank is unable to collect the debt fr...