The objective of this Regulation is to provide a regulatory framework in which Finance Companies and Restricted Licence Finance Companies can operate and develop within the overall U.A.E. financial sector in a robust and prudent manner. The framework set out in this Regulation is aimed at:
a.
Protecting the customers of Finance Companies and Restricted Licence Finance Companies;
b.
Protecting Finance Companies and Restricted Licence Finance Companies; and
c.
Enhancing the overall stability of the financial sector.
2.2
This Regulation is issued by the Central Bank pursuant to the powers vested in the Central Bank Law.
2.3
Where this Regulation includes a requirement to provide information or to take certain measures, or to address certain items listed at a minimum, the Central Bank may impose requirements, which are additional to the list provided in the relevant article.