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Article (1): Definitions

C 18/2021 Effective from 15/12/2021
  1. Bank: Any juridical person licensed in accordance with the provisions of the Central Bank Law, to primarily carry on the activity of taking deposits, and any other Licensed Financial Activities.
     
  2. Central Bank: The Central Bank of the United Arab Emirates.
     
  3. Central Bank Law: Decretal Federal Law No. (14) of 2018 regarding the Central Bank & Organization of Financial Institutions and Activities and its amendments, or replacement from time to time.
     
  4. Regulation of Significant Shareholder: Transfer of Significant Shareholding Regulation 05/2020 of 15 April 2020 on the transfer of significant shareholding.
     
  5. State: United Arab Emirates “UAE”.