This Regulation and the accompanying Standards apply to all Banks. Banks established in the UAE with Group relationships, including Subsidiaries, Affiliates, or international branches, must ensure that the Regulation and the Standards are adhered to on a solo and Group-wide basis.

Branches of foreign Banks licensed to operate in the UAE must adhere to this Regulation and Standards or establish equivalent arrangements so as to ensure regulatory comparability and consistency, with the exception of Article (3) of this Regulation. Branches of foreign Banks must establish local governance structures that meet the objectives of Articles (2) and (4) of this Regulation.

This Regulation and the accompanying Standards are in addition to the provisions relating to public joint stock companies in the Federal Law No. 2 of 2015 on Commercial Companies (the “Commercial Companies Law”), and the Chairman of Authority's Board of Directors' Resolution No. (7 R.M) of 2016 Concerning the Standards of Institutional Discipline and Governance of Public Shareholding Companies (“SCA Regulation”). In the event of contradiction with any provisions of the SCA Regulation, the requirements of the Central Bank’s Regulation and Standards shall prevail.