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Article (4.2): Conditions for Granting of Licence

RES 61/6/2016 Effective from 25/8/2016
  1. Paid-up capital of the Licensed Person is not less than AED 2,000,000 (Dirhams two million) for carrying on purchase, sale and exchange of foreign currencies in the form of bank notes, coins and travelers cheques, and not less than AED 5,000,000 (Dirhams Five Million) for carrying on remittance business within and outside the UAE in addition to sale and purchase of foreign currencies and travelers cheques, and not less than AED 10,000,000 (Dirhams Ten Million) for carrying on payment of wages through connecting to the Central Bank's system in addition to remittance business and sale/purchase of foreign currencies and travelers cheques, and not less than AED 50,000,000 (Dirhams fifty million) if the legal status of the Licensed Person is a Limited Liability Company (L.L.C), regardless of the activity.