The following exposures are exempted from the application of Article (2) of the Circular No 32/2013 and from the individual and aggregate limits fixed in sections 2.2 to 2.9 of the Guidelines:

1. 2.11.1 Asset items constituting direct or indirect claims on/ or guaranteed by the UAE Federal government including its non-commercial public sector entities;
2. 2.11.2 Asset items constituting claims on/ or guaranteed by eligible multilateral development institutions and their affiliates as per Appendix 8 of the BASEL II Implementation Guidelines vide Circular No 27/2009.
3. 2.11.3 Asset items secured by collateral in the form of securities issued by the entities mentioned in 2.11.1 or 2.11.2 above;
4. 2.11.4 Investments made in marketable securities such as bonds/ Sukuks issued by Emirates Governments or GREs, rated not less than AA- (or equivalent) by one of the top three rating agencies, held to meet Central Bank’s liquidity requirements or held in the trading book and the intention is not to hold such bonds/ sukuks till maturity;
5. 2.11.5 Exposures secured by proper lien over deposits placed with the lending bank or its parent company or its subsidiary, under the condition that the lien can be legally enforced;
6. 2.11.6 Any other asset or security which has been specifically exempted by Central Bank from the purview of large exposure requirement.