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Article (1): Definitions

C 52/2017 Effective from 23/2/2017
  1. Bank: A financial institution which is authorized by the Central Bank to accept deposits as a bank.
  2. Central Bank: The Central Bank of the United Arab Emirates.
  3. Central Bank Law: Union Law No (10) of 1980 concerning the Central Bank, the Monetary System and Organization of Banking as amended or replaced from time to time.
  4. Terminology used in these Regulations: As defined in the Basel III capital framework, for example ‘Basel III: A global regulatory framework for more resilient banks and banking systems’ published by the Basel Committee for Banking Supervision in December 2010 and revised in June 2011.