A. Licensing and Continuing Obligations Standards
N 35/2018 STA- Chapter 1: Scope of the License and Exchange Business
- Chapter 2: Legal Forms, Capital and Bank Guarantee Requirements
- Chapter 3: Licensing
- Introduction
- 3.1 Application Process and Documentary Requirements for a License
- 3.2 Approval Process and Timelines
- 3.3 Rejecting an Application
- 3.4 Validity of a License
- 3.5 Maintain the License
- 3.6 Revocation or Suspension of License
- 3.7 Opening of New Branches
- 3.8 Re-location of Licensed Premises
- 3.9 Temporary Closure of Licensed Premises
- Chapter 4: Continuing Obligations
- Introduction
- 4.1 Total Assets to Paid-up Capital Ratio [Article 9.1 (a) of the Regulations]
- 4.2 Manager in Charge [Article 9.1 (b) of the Regulations]
- 4.3 Alterations [Article 9.1 (c) of the Regulations]
- 4.4 Merger, Amalgamation and Joint Venture Arrangements [Article 9.1 (d) of the Regulations]
- 4.5 Licensed Premises and Products [Article 9.1 (e) of the Regulations]
- 4.6 Trade Name [Article 9.1 (f) of the Regulations]
- 4.7 Official Receipts [Article 9.1 (h) of the Regulations]
- 4.8 Display of Rates [Article 9.1 (h) of the Regulations]
- 4.9 SMS Notification [Article 9.1 (j) of the Regulations]
- 4.10 Encumbered Assets [Article 9.1 (k) of the Regulations]
- 4.11 Profit Distribution [Article 9.1 (l) of the Regulations]
- 4.12 Borrowing, Lending or Maintaining Current Accounts [Article 9.1 (m) of the Regulations]
- 4.13 Remittances Intermediate Account [Articles 9.1 (n) and (o) of the Regulations]
- 4.14 Renewal of License [Article 9.1 (r) of the Regulations]
- 4.15 Display of Licenses and List of Permitted Activities
- 4.16 Display of Working Hours
- 4.17 Banknotes Import and Export from/to Foreign Institutions
- 4.18 Liquidity of the Business
- 4.19 Equity and Minimum Paid-up Capital Requirements
- 4.20 Authorized Signatories
- 4.21 Reporting to the Central Bank
- 4.22 Business Plans and Budgets
- 4.23 UAE National Employment Programs or Emiratisation
- 4.24 Opening of Subsidiaries and Offices
- 4.25 Investigations and Litigation
- 4.26 Compliance with Laws and Regulations
- 4.27 Responses to the ‘Search’ or ‘Search and Freeze’ Notices
- 4.28 AED Settlement via UAEFTS
- 4.29 Gifts and Entertainments
- 4.30 Pricing Changes
- Chapter 5: Central Bank Examinations
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