To: All Finance Companies and Restricted Licence Finance Companies
Subject: Finance Companies and Restricted Licence Finance Companies
The Board of Directors of the Central Bank,
- Having perused Federal Decree-Law No. 14 of 2018 Regarding the Central Bank & Organisation of Financial Institutions and Activities and its amendments;
- Federal Decree-Law No. 20 of 2018 regarding Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations and its amendments;
- Federal Law No. 6 of 2010 regarding the Credit Information and its amendments;
- Federal Decree-Law No. 32 of 2021 concerning Commercial Companies; and
- Cabinet Decision No. 10 of 2019 Concerning the Implementing Regulation of Federal Decree-Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations and its amendments.
Has decided the following:
1.1. The Central Bank is seeking to enhance the organization, development and regulation of Finance Companies and Restricted Licence Finance Companies in the United Arab Emirates (U.A.E.) in the cont...