This Law amended Decree-Law 14 of 2018.
We are Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates having reviewed the Constitution,
- Federal Law No. 1 of 1972 on the Competencies of Ministries and the Powers of Ministers, and its amendments,
- Federal Decree-Law No. 14 of 2018 on the Central Bank and the Regulation of Financial Institutions and Activities, and its amendments,
Based on the proposal of the Minister of Finance and the approval of the Council of Ministers, we have issued the following Legislative Decree:
The definitions of “transfer order” and “cash” in Article 1 of Federal Decree-Law No. 14 of 2018 referred to shall be replaced by the following definitions:
Transfer command: With regard to a financial infrastructure system, I mean any of the following instructions:
1. Instructions by a participating person to place funds at the disposal of another participating person that are transferred in the accounts of the settlement establishment to a clearing and settl...