In application of Article 4 of the Risks Bureau’s Regulations, each Institution operating in the UAE should submit a statement on each of its customers when total credits extended to him reach or exceed Dh. 500,000

In order to know if the credits granted to a customer amount to the minimum limit shown in the preceding Article, the Institution shall add all of the various types of credits opened for the customer as indicated in the statement of Form (R.B. –5) whether such credits are used or not and whether the Institution has notified the customer about them or not.

Dirham and foreign currency credits should be reported. Foreign currency shall be converted into dirhams according to exchange rates in force at the date of the report.

Credits extended by the Institution to its customers abroad shall also be reported. Credits extended by a resident Institution to another resident Institution and credits extended to one of the public departments or organizations should be reported also.

Statements shall be made on the customer whom the Institution has extended credit:

(1) As regards commercial papers (checks, discounted bills of exchange, etc...) the statement would contain data on the customer who endorses them to the Institution.

(2) As regards credits covering acceptances or guarantees the statement shall cover the customer for whom the Institution gave the acceptance or the guarantee.

(3) As regards documentary letters of credit, the customer who requested the opening of the documentary letter of credit shall be reported.