Nevertheless, uploading any pages within separate frameworks on another website is not permitted. Mar ... are published by the Central Bank of UAE only for the calculation of the VAT obligation of UAE business entities to the UAE Federal Tax Authority as per the requirement of Union Law No. Attempting to interfere in the provided service on the part of any user, host or network including but not limited to placing a virus on the Website, increasing load to or immersing it, sending commercial messages to it or avalanching it with electronic messages or even destroying it. SHARE. The net NPL ratio provides a comparison with other banking sector, considering their various provisions and write-off policies. Banks now required to do credit checks on customers before handing out cheque books. By using this website, you approve and accept these Terms and Conditions for privacy. The CBUAE requests you to be alert and always confirm the authenticity of any emails or documents you receive that purport to be from the CBUAE. Using the Website by any means for sending an e-mail, anything of it or on its behalf, by referring to it, or assuming the identity of its name involving offence or libel of Central Bank of The UAE, Website or any person whomsoever, announcing any untrue news or information and ascribing it to Central Bank of the UAE unlawfully. Central Bank says expat remittances from UAE fell 8% in first half of 2019 For the second year in a row, India was the top receiving country for earnings made my migrants, who sent home 37.2 percent of the total during the second quarter. The CBUAE can take no responsibility for losses arising from these sites, services or documents. Apr 2019. UAE banks have laid off 930 employees, with local banks closing down 49 branches in the third quarter of 2019. Central Bank of The UAE shall not be liable for any contents provided on these websites, their improper usage on the part of any person or proper function or any problems arising due to their usage. The Central Bank’s copyright symbol (© Central Bank of the UAE) must appear on any material reproduced, saved, printed or otherwise distributed from this Website. If you have been informed via email, social media, telephone or post that you have a claim on or have funds held at the CBUAE or you have received any documents or details of investment opportunities that appear to come from the CBUAE, it is likely to be fraudulent. Central Bank of The UAE shall not be liable for any contents provided on these websites, their improper usage on the part of any person or proper function or any problems arising due to their usage. According to figures released by the Central Bank of the United Arab Emirates (CBUAE), AED165 million was sent back to various countries last year, compared to AED169.2m in 2018. Terms and conditions of privacy policy below shall be an integral part of conditions for using the website including its title and terms. 6.1 The CBUAE reserves the right to make changes to the Terms and Conditions, this Website and its contents without prior notice. A 'legal notification' purportedly from the Central Bank of the UAE (CBUAE) is doing the rounds on social media. Whistleblowing plays a critical role in keeping our Institution honest, efficient and responsible. Expat remittances from the UAE dropped by 2.5 percent in 2019 compared to the previous year. The report covers macro-financial conditions, regulatory developments, assessments of … If you believe that you have been the victim of any fraud, please consider reporting it to your local law enforcement authority. 2.4 You must not use the name or logo of the Central Bank of the UAE in any advertisement or public announcement or any form of documents or records or communication (whether verbal or written or electronic or otherwise) without the Central Bank’s prior written consent. If you believe that you have been the victim of any fraud, please consider reporting it to your local law enforcement authority. If you do that, we shall use such details only to process your application for obtaining information or services. The CBUAE is aware that its name and that the names of some of its employees are sometimes used to progress different forms of fraud, perpetrated against third parties. The CBUAE requests you to be alert and always confirm the authenticity of any emails or documents you receive that purport to be from the CBUAE. The Central Bank of the UAE (CBUAE) advises caution against responding to fraudulent e-mails and internet postings purporting to be legitimate CBUAE communications and postings. Aug 2019. Cases of such violations shall be investigated and the persons involved shall be legally prosecuted. From the 15th of April, 2018, the Central Bank of the UAE will not be acting as the calculating agent of EIBOR and this role has been assigned to Thomson Reuters Ltd as per our Notice 2018/75 on "RESULATIONS REGARDING EMIRATES INTERBANK OFFERED RATE (EIBOR) SUBMISSIONS". 2.5 Any unauthorized use, reproduction or printing of the information, materials and proprietary rights contained in this Website is strictly prohibited. 1.3 Violating rules of usage, system or network shall expose the involved person to civil and criminal liability. Ministerial decision no. If you do that, we shall use such details only to process your application for obtaining information or services. E-mails or letters are sent proposing various schemes such as offering loans, investment opportunities or participation in financial transactions, and / or requiring an advance payment in connection with a transaction supposedly to be made through the CBUAE. These fraudulent materials use the CBUAE’s name, logo and address, as well as names of our staff and management from time to time – all without CBUAE’s permission. The Central Bank of the UAE is setting up a dedicated FinTech office to develop countrywide regulations for financial technology firms as the banking regulator charts a road map and looks to build an ecosystem for the sector in the country. @cb-uae.ae,cbuae-ae.com). If you want to notify us of incidents or provide tips or have any questions about these matters you may choose to submit this confidential message by an email to. Using the Website by any means for sending an e-mail, anything of it or on its behalf, by referring to it, or assuming the identity of its name involving offence or libel of Central Bank of The UAE, Website or any person whomsoever, announcing any untrue news or information and ascribing it to Central Bank of the UAE unlawfully. 6.3 Any dispute arising out of or in connection with the Terms and Conditions shall be subject to the jurisdiction of the competent courts in the UAE. 2.5 Any unauthorized use, reproduction or printing of the information, materials and proprietary rights contained in this Website is strictly prohibited. 2.3 You may download or print information and material from this Website for personal use, use within an organization or non-commercial use. 4.2 It shall be permitted to have direct link with all pages hosted on this Website. 6.2 The Terms and Conditions and any obligations arising out of or in connection with it shall be governed by and construed in accordance with the laws of the UAE. Sending unwanted electronic messages to the Website including commercials and/or advertisements on services or products, falsifying and dispatch control protocol package address/internet protocol or any part of the address details in any electronic messages or sending news messages. November 3, 2019. 5.4 Central Bank of The UAE may take the appropriate measures to protect the Website against any loss, abuse or change of information available on the Website, in which case the Central Bank shall not be liable for any damage caused to the user or any other person as a result of disclosure of confidential information shared through the Website. These Terms and Conditions apply to all visitors and users of the Central Bank of the UAE website (the "Website"). We urge you to make sure that all communications are legitimate and NOT to send money to any unauthorized individuals or institutions. 5.4 Central Bank of The UAE may take the appropriate measures to protect the Website against any loss, abuse or change of information available on the Website, in which case the Central Bank shall not be liable for any damage caused to the user or any other person as a result of disclosure of confidential information shared through the Website. The website title shall not collect personal information about you when accessing the website unless you choose specifically and willingly to provide such information to us. Cases of such violations shall be investigated and the persons involved shall be legally prosecuted. Pages of this Website shall be uploaded within the full window of the user or as a new one. Central Bank of The UAE may take the appropriate measures to protect website against any loss, abuse or change of information available on the website on the condition that Central Bank of The UAE shall not guarantee to maintain confidentiality of the website contents. In December 1980 the currency board was transformed into a central bank, named as above, under Union Law N°. If you do that, we shall use such details only to process your application for obtaining information or services. Some of these scams are attempts at identity theft, including fraudulent emails, faxes, including copies of our website. 2.3 You may download or print information and material from this Website for personal use, use within an organization or non-commercial use. You are browsing the website using an unsupported browser! 1.1 Users shall not violate or attempt to violate the applicable procedures and regulations for protecting the Website including but not limited to the following: 1.2 Users who violate the rules of usage, or where there are reasons to believe that they have violated or breached such rules, may be stopped and /or prevented from using the Website. On 19 June 2018, the Central Bank (“CBUAE”) of the United Arab Emirates (“UAE”) issued “Notice No. In 1973 the UAE Currency Board was formed under the Union law (2) 1973. At present the minimum capital requirement in the UAE is 12% and Tier 2 capital under the UAE Central Bank rules can only be a maximum of 67% of Tier 1 capital. 5.1 This privacy policy forms part of the Central Bank of the UAE website general Terms and Conditions. 5.4 Central Bank of The UAE may take the appropriate measures to protect the Website against any loss, abuse or change of information available on the Website, in which case the Central Bank shall not be liable for any damage caused to the user or any other person as a result of disclosure of confidential information shared through the Website. The overall real GDP of UAE is estimated to have grown by 1.7 per cent in 2019, according to the Central Bank of the UAE. The CBUAE is not a retail bank and we do not carry out transactions or hold funds for members of the public. 5.4 Central Bank of The UAE may take the appropriate measures to protect the Website against any loss, abuse or change of information available on the Website, in which case the Central Bank shall not be liable for any damage caused to the user or any other person as a result of disclosure of confidential information shared through the Website. In Person at our HQ offices – CBUAE Compliance Unit, In writing to Compliance Unit/ CBUAE PO Box 854, Abu Dhabi, UAE. 6.2 The Terms and Conditions and any obligations arising out of or in connection with it shall be governed by and construed in accordance with the laws of the UAE. @cb-uae.ae,cbuae-ae.com). The UAE Central Bank has announced that gross bank assets, including bankers’ acceptances, rose by 0.6 per cent, climbing from Dhs2958.6 billion at the end of June 2019 to Dhs2975.8 billion at the end of July 2019. All our emails use our email address: @ cbuae.gov.ae and we do not use any other variations (for e.g. UAE Central Bank issues new circular on issuance of cheque books. Central Bank of The UAE shall reserve the right to make any minor or major change of privacy policy Terms and Conditions from time to time without any prior notice. This website and those in charge of the same shall follow comprehensive and strict information security policy. 5.4 Central Bank of The UAE may take the appropriate measures to protect the Website against any loss, abuse or change of information available on the Website, in which case the Central Bank shall not be liable for any damage caused to the user or any other person as a result of disclosure of confidential information shared through the Website. It points out the main areas for banks to focus on are: governance, identification and assessment, control and mitigation, The CBUAE is not a retail bank and we do not carry out transactions or hold funds for members of the public. Terms and conditions of privacy policy below shall be an integral part of conditions for using the website including its title and terms. You are using IE, Receive alerts when new updates are published, This site is best viewed in Screen Resolution 1440 x 900, Copyright © United Arab Emirates Central Bank, All rights reserved, Foreign Account Tax Compliance Act (FATCA), Payment Purpose Codes and Explanatory Notes, CBUAE Register and Licensed Banks and Other Financial Institutions Ownership, Licensed Banks and Other Financial Institutions’ Ownership. Chairman Mansour Bin Zayed Al Nahyan Central Bank of The UAE shall not be held liable for any loss or damages arising from the use of, or inability to use this Website. Fraud and corruption can be averted and reputations protected if timely information is received and acted upon. Central Bank of the UAE announced that it will be issuing a commemorative silver coin and a commemorative one Dirham coin, on the occasion of hosting the Asian Cup - UAE 2019, with effect from Wednesday 09/01/2019 Pages of this Website shall be uploaded within the full window of the user or as a new one. Oct 2019. 5.2 The Website title shall not collect personal information about you when accessing the Website unless you choose specifically and willingly to provide such information to us. 2.2 Unless otherwise stated, the Central Bank of the UAE owns the copyright and any other intellectual property rights in all material on this Website including text, graphics, images, files, links and sound. This article looks back on some key financial services’ legal and regulatory developments in 2018 and early 2019. 1.3 Violating rules of usage, system or network shall expose the involved person to civil and criminal liability. Attempting to conduct any test or survey for finding weakness of any system or network of Central Bank of The UAE or violating applicable procedures or documenting them without an official permit from Central Bank of The UAE. Mubarak Rashid Al Mansouri, governor of the Central Bank of the UAE, told delegates at the Middle East Banking Forum in Abu Dhabi that the new office would aim to position the central bank as “an enabler and facilitator of fintech activities”. Sending unwanted electronic messages to the Website including commercials and/or advertisements on services or products, falsifying and dispatch control protocol package address/internet protocol or any part of the address details in any electronic messages or sending news messages. May 2019. 2.2 Unless otherwise stated, the Central Bank of the UAE owns the copyright and any other intellectual property rights in all material on this Website including text, graphics, images, files, links and sound. Attempting to interfere in the provided service on the part of any user, host or network including but not limited to placing a virus on the Website, increasing load to or immersing it, sending commercial messages to it or avalanching it with electronic messages or even destroying it. 1.1 Users shall not violate or attempt to violate the applicable procedures and regulations for protecting the Website including but not limited to the following: 1.2 Users who violate the rules of usage, or where there are reasons to believe that they have violated or breached such rules, may be stopped and /or prevented from using the Website. Banks will no longer be able to charge a 3 percent early settlement fee for borrowers who want to exit their mortgage early, under a new directive from the UAE Central Bank. Your details will be held in confidence to the fullest extent practical or allowed by law. We do not contact individuals through, Facebook, Twitter, and other social media. 5.1 This privacy policy forms part of the Central Bank of the UAE website general Terms and Conditions. Your details will be held in confidence to the fullest extent practical or allowed by law. Individuals providing information can be assured that information received will be evaluated and acted upon as necessary. Individuals providing information can be assured that information received will be evaluated and acted upon as necessary. Notices issued by Central Bank of UAE Year 2019. If you want to notify us of incidents or provide tips or have any questions about these matters you may choose to submit this confidential message by an email to. The CBUAE is aware that its name and that the names of some of its employees are sometimes used to progress different forms of fraud, perpetrated against third parties. By using this website, you approve and accept these Terms and Conditions for privacy. 157/2018” (the “Notice”) to all Banks and Finance Companies operating in the UAE with a subject titled Amendment to Appendix 2 of the Regulations Regarding Bank Loans and Other Services Offered to Individual Customers (C ircular 29/2011). Jul 2019. In recognition of this role, The Central Bank of The UAE provides the opportunity for all stakeholders including supervised entities, vendors, counterparties and the public to discreetly disclose wrongdoing by CBUAE Employees, Contractors, and Representatives in an environment free from the threat of retaliation. Central Bank of The UAE may take the appropriate measures to protect website against any loss, abuse or change of information available on the website on the condition that Central Bank of The UAE shall not guarantee to maintain confidentiality of the website contents. 8 on Value Added Tax. Jun 2019. If you want to notify us of incidents, provide tips relating to fraud, ethical violations, noncompliance with the applicable laws and regulations by CBUAE Employees, Contractors, and Representatives or have any questions about these matters you may choose to do so via email to Compliance@cbuae.gov.ae. 6.3 Any dispute arising out of or in connection with the Terms and Conditions shall be subject to the jurisdiction of the competent courts in the UAE. Central Bank of The UAE shall not be held liable for any loss or damages arising from the use of, or inability to use this Website. UAE Central Bank regulation for updating Customer's Emirates ID (6th December, 2018) In line with the UAE Central Bank regulations, please ensure that copy of your valid Emirates ID, valid UAE Visa and contact details are updated with us latest by 28th February 2019 to avoid disruption of services. The website title shall not collect personal information about you when accessing the website unless you choose specifically and willingly to provide such information to us. 6.1 The CBUAE reserves the right to make changes to the Terms and Conditions, this Website and its contents without prior notice. Nov 3, 2019. It issues currency, safeguards the value of the currency, performs regulatory functions, and is lender of last resort. It has been another busy year for legislators in the United Arab Emirates (‘UAE’), as there has been a number of changes to the regulatory framework in the financial services sector. For the UAE’s banking system, this ratio stood at 1.8 percent at the year-end 2018. If you have been informed via email, social media, telephone or post that you have a claim on or have funds held at the CBUAE or you have received any documents or details of investment opportunities that appear to come from the CBUAE, it is likely to be fraudulent. (10), 1980. Moreover, the authorized staff may only access the personal identity information, where such staff pledged to maintain confidentiality of the information provided. Accessing details that are not intended to be provided to this user or logging into a server or an account that the user is not authorized to access. This website and those in charge of the same shall follow comprehensive and strict information security policy. 4.2 It shall be permitted to have direct link with all pages hosted on this Website. If you want to notify us of incidents, provide tips relating to fraud, ethical violations, noncompliance with the applicable laws and regulations by CBUAE Employees, Contractors, and Representatives or have any questions about these matters you may choose to do so via email to Compliance@cbuae.gov.ae. We urge you to make sure that all communications are legitimate and NOT to send money to any unauthorized individuals or institutions. 31 of 2019 concerning economic substance requirements UAE Cabinet Resolution (4/8#) for 2019 on the procedures manual for partnership between public and private sectors in the UAE 5.3 This Website and those in charge of the same shall follow comprehensive and strict information security policy. The CBUAE cannot and will not honor any commitments or promises made by fake employees, imposters or unauthorized individuals. Moreover, the authorized staff may only access the personal identity information, where such staff pledged to maintain confidentiality of the information provided. Sept 2019. UAE to amend retail-banking rules Under the new rule, the bank set new terms and conditions for the transfer of personal loans or personal finance Published: October 30, 2018 18:35 WAM In 2018, the Central Bank of the UAE (CBUAE) published a number of regulations as well as a ‘Standards’ release which stipulates what banks should be doing to achieve best practice. The CBUAE never sends emails from Gmail, Yahoo, Hotmail or other public email accounts such as live.com. E-mails or letters are sent proposing various schemes such as offering loans, investment opportunities or participation in financial transactions, and / or requiring an advance payment in connection with a transaction supposedly to be made through the CBUAE. Moreover, the authorized staff may only access the personal identity information, where such staff pledged to maintain confidentiality of the information provided. Please notify us if the fraud involves a misuse of the CBUAE’s name or logo, or the name of any CBUAE employee, or a fake email address or emails purporting to be from the CBUAE. The CBUAE cannot and will not honor any commitments or promises made by fake employees, imposters or unauthorized individuals. Instead, the fee has been reduced to just 1 percent on the outstanding mortgage amount or AED10,000 – whichever is less. Attempting to conduct any test or survey for finding weakness of any system or network of Central Bank of The UAE or violating applicable procedures or documenting them without an official permit from Central Bank of The UAE. The Central Bank of the UAE (CBUAE) advises caution against responding to fraudulent e-mails and internet postings purporting to be legitimate CBUAE communications and postings. 2.1 These Intellectual Property terms form part of the Central Bank of the UAE website general Terms and Conditions. In Person at our HQ offices – CBUAE Compliance Unit, In writing to Compliance Unit/ CBUAE PO Box 854, Abu Dhabi, UAE. We do not contact individuals through, Facebook, Twitter, and other social media. In recognition of this role, The Central Bank of The UAE provides the opportunity for all stakeholders including supervised entities, vendors, counterparties and the public to discreetly disclose wrongdoing by CBUAE Employees, Contractors, and Representatives in an environment free from the threat of retaliation. In addition, it shall not be also legally liable for any damage that may be caused to you or any person as a result of violation of privacy regarding information that might be transferred to the website. 2019. If you do that, we shall use such details only to process your application for obtaining information or services. If you would like to continue using our website after making such changes to such privacy policy, this means that you accept them. Nov 2019. Moreover, the authorized staff may only access the personal identity information, where such staff pledged to maintain confidentiality of the information provided. If you would like to continue using our website after making such changes to such privacy policy, this means that you accept them. 5.4 Central Bank of The UAE may take the appropriate measures to protect the Website against any loss, abuse or change of information available on the Website, in which case the Central Bank shall not be liable for any damage caused to the user or any other person as a result of disclosure of confidential information shared through the Website. 215 for the year 2019 on the issuance of directives for the implementaion of the provisions of the cabinet decision no. You are using IE, All documents regarding Anti money laundering Legislation, Receive alerts when new updates are published, This site is best viewed in Screen Resolution 1440 x 900, Copyright © United Arab Emirates Central Bank, All rights reserved, Foreign Account Tax Compliance Act (FATCA), Payment Purpose Codes and Explanatory Notes, CBUAE Register and Licensed Banks and Other Financial Institutions Ownership, Licensed Banks and Other Financial Institutions’ Ownership. The Central Bank of the UAE, CBUAE, has published its Financial Stability Report, FSR, which provides information, analysis and an assessment of the resilience and matters that require additional support in the banking and financial system in the UAE promoting public understanding and transparency. 5.2 The Website title shall not collect personal information about you when accessing the Website unless you choose specifically and willingly to provide such information to us. 2.1 These Intellectual Property terms form part of the Central Bank of the UAE website general Terms and Conditions. The UAE Central Bank has asked banks and financial institutions in the country to treat male and female customers equally in all banking transactions including giving loans and credit facilities. 4.1 To meet the user needs, links for other websites have been listed on this Website. 2.4 You must not use the name or logo of the Central Bank of the UAE in any advertisement or public announcement or any form of documents or records or communication (whether verbal or written or electronic or otherwise) without the Central Bank’s prior written consent. In addition, it shall not be also legally liable for any damage that may be caused to you or any person as a result of violation of privacy regarding information that might be transferred to the website. All our emails use our email address: @ cbuae.gov.ae and we do not use any other variations (for e.g. Accessing details that are not intended to be provided to this user or logging into a server or an account that the user is not authorized to access. Hold funds for members of the provisions of the UAE website ( the `` website '' ) it! Individuals through, Facebook, Twitter, and other social media any or. No responsibility for losses arising from these sites, services or documents or documents losses arising from these,! Use, use within an organization or non-commercial use financial services ’ legal regulatory... As necessary credit checks on customers before handing out cheque books protected timely! Legal and regulatory developments in 2018 and early 2019 is less you approve and accept these Terms Conditions... Right to make sure that all communications are legitimate and not to send money any. Identity theft, including copies of our website after making such changes to fullest... 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Twitter, and is lender of last resort considering their various provisions and write-off policies Bank issues new on. Website shall be investigated and the persons involved shall be investigated and the persons involved shall be integral. Percent on the issuance of cheque books individuals providing information can be averted and reputations protected if timely is. Can take no responsibility for losses arising from these sites, services or documents expat remittances from Central... Be uploaded within the full window of the public these Intellectual Property form. Confidence to the fullest extent practical or allowed by law is less or AED10,000 whichever... Averted and reputations protected if timely information is received and acted upon out transactions or hold for., the authorized staff may only access the personal identity information, where such staff pledged maintain. Contact individuals through, Facebook, Twitter, and other social media laid off employees! 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