1) Licensed Financial Institutions that carry on all or part of their activities and business in accordance with the provisions of Islamic Shari’ah may carry on the Licensed Financial Activities mentioned in Article (65) of this decretal law, whether for themselves or on behalf of others or in partnership with third parties, provided such business and activities are in compliance with the provisions of Islamic Shari’ah. The Board of Directors shall issue regulations specifying the activities, conditions, rules, and operating standards for these institutions, in a manner commensurate with the nature of the license granted to them.

2) Licensed Financial Institutions mentioned in item (1) of this article shall, in respect of their Shari’ah-compliant business and activities initiated on behalf of their customers and not for themselves, be exempted from:

1. a. Provisions of item (1) of Article (93) of this decretal law.
2. b. Provisions of item (2) of Article (93) of this decretal law, insofar as such exemption does not contradict the provisions of local legislations applicable in the relevant member Emirate of the Union.