The MMG applies to all licensed banks in the UAE, which are referred to herein as “institutions”.
1.4.2
The scope of institutions is consistent across the MMS and the MMG. Details about the scope of institutions are available in the MMS.
1.4.3
Branches or subsidiaries of foreign institutions should apply the most conservative practices between the MMG and the expectations from their parent company’s regulator.
1.4.4
Institutions with a parent company incorporated in the UAE should ensure that all their branches and subsidiaries comply with the MMG.