1.1 Central Bank: The Central Bank of the United Arab Emirates.

1.2 Exchange Business: as defined in the Exchange Business Regulation.

1.3 Licensed Person: any natural or judicial person authorised to conduct Exchange Business under the Exchange Business Regulation.

1.4 Exchange Business Regulation: the Central Bank Regulation titled ‘Regulations re Licensing and Monitoring of Exchange Business’ issued by Central Bank Notice No. 1/2014 on 6 January 2014 and amendments thereof