1) The following activities shall be considered financial activities subject to Central Bank licensing and supervision in accordance with the provisions of this decretal law:

• a. Taking deposits of all types, including Shari`ah-compliant deposits.
• b. Providing credit facilities of all types.
• c. Providing funding facilities of all types, including Shari`ah-complaint funding facilities.
• d. Providing currency exchange and money transfer services.
• e. Providing monetary intermediating services.
• f. Providing stored values services, electronic retail payments and digital money services.
• g. Providing virtual banking services.
• h. Arranging and/or marketing for Licensed Financial Activities.
• i. Acting as a principle in financial products that affect the financial position of the Licensed Financial Institution, including but not limited to foreign exchange, financial derivatives, bonds and sukuk, equities, commodities, and any other financial products approved by the Central Bank.

2) The Board of Directors shall:

• a. Classify and define Licensed Financial Activities and the practices relating thereto.
• b. Add activities or practices to the list of Licensed Financial Activities mentioned in item (1) of this article, or delete activities or practices from the list, or amend them, following coordination and agreement with the Regulatory Authorities in the State, through the Financial Activities Committee referred to in Article (66) of this decretal law.

3) In case a Licensed Financial Institution wishes to carry on activities licensed by Regulatory Authorities in the State or the regulatory authorities in other jurisdictions, other than the activities referred to in item (1) of this article, such institution must obtain approval of the Central Bank, prior to obtaining licensing from the concerned regulatory authority.