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Article (1): Definitions

C 12/2021 Effective from 14/3/2021
  1. 1.1 Bank: Any juridical person licensed in accordance with the provisions of the Central Bank Law, to primarily carry on the activity of taking deposits, and any other Licensed Financial Activities.
     
  2. 1.2 Central Bank: The Central Bank of the United Arab Emirates
     
  3. 1.3 Central Bank Law: Decretal Federal Law No. (14) of 2018 Regarding the Central Bank & Organisation of Financial Institutions and Activities, and its amendments.
     
  4. 1.4 Regulations: Any resolution, regulation, circular, rule, standard or notice issued by the Central Bank.
     
  5. 1.5 Specialized Bank: A Specialized Bank as defined in and licensed under the Specialized Bank with low risk Regulation issued by the Central Bank.