Federal Decree-Law No. (6) of 2025chapter by chapter

Article 121: Opening Branches and Subsidiaries Inside or Outside the State and in a Financial Free Zone

Licensed Financial Institutions must obtain the Central Bank's prior approval before establishing, relocating or closing a branch or subsidiary, inside or outside the State or in a Financial Free Zone.

Article 122(1)Article 122: Providing the Central Bank with Information and Reports

A licensed financial institution must provide the Central Bank with required reports and information, appoint qualified employees to prepare them, and ensure those employees can obtain the necessary information.

Article 122(2)Article 122: Providing the Central Bank with Information and Reports

Licensed financial institutions must not instruct or agree with managers, officers, employees, agents or auditors to refuse providing the Central Bank with required reports or information.

Article 123(1)Article 123: Reporting of Violations

Licensed Financial Institutions and their legal representatives, compliance officers and auditors must immediately report to the Central Bank any matter of significance and any violation of decree-law or related rules.

Article 123(2)Article 123: Reporting of Violations

A licensed financial institution must not dismiss or discipline a legal representative, compliance officer or auditor who reports violations in good faith to the Central Bank without first obtaining Central Bank approval.

Article 124(1)Article 124: Submission of Data on Financial Position Required by the Central Bank

Licensed Financial Institutions must submit audited financial statements, auditors' report and board report to the Central Bank within three months of financial year end, unless another period is set.

Article 124(3)-(4)Article 124: Submission of Data on Financial Position Required by the Central Bank

A licensed financial institution must not present its financial position data to its general assembly without Central Bank approval and must promptly notify the Central Bank of serious financial or administrative situations affecting customers.

Article 125(1)Article 125: Merger and Acquisition

Licensed Financial Institutions must obtain Central Bank prior approval before merging, acquiring any institution, or transferring any part of their liabilities to another Person.

Article 126: Cessation of Business

A Licensed Financial Institution must obtain Central Bank approval before ceasing operations or partially suspending any Licensed Financial Activities.

Article 128(1)Article 128: Authority to Issue Instructions and Directives for Prudential Purposes

Licensed financial institutions must comply with Board of Directors prudential instructions, including capital adequacy and liquidity ratios, required provisions, credit and related-party exposure limits, and additional reporting.

Article 128(3)-(4)Article 128: Authority to Issue Instructions and Directives for Prudential Purposes

A subsidiary of a Licensed Financial Institution must comply with Central Bank instructions to suspend services, close offices outside the State, or remove obstacles to consolidated supervision.

Article 129: Limits of Operations

Licensed Financial Institutions must comply with Central Bank-set operational limits, including maximum funding, lending to a single Person, and dealing in foreign government or corporate securities.

Article 130(2)Article 130: Governance of Licensed Financial Institutions

Licensed Financial Institutions must obtain Central Bank prior approval before appointing or renewing any board member, and before appointing or renewing any Authorized Individual's employment contract.

Article 133(4)-(5)Article 133: Examination

Licensed financial institutions and their subsidiaries must give Central Bank examiners timely access to all records and data, and make related persons available when summoned.

Article 133(7)-(8)Article 133: Examination

Licensed financial institutions found in violation after examination must comply with Central Bank restrictions, rectification orders, or appointed expert oversight, and bear expert remuneration and outsourced examination costs.

Article 138: Financial Year of Licensed Financial Institutions

Licensed Financial Institutions run their financial year from 1 January to 31 December, except the first financial year, which starts on registration date and ends at the end of the following financial year.

Article 139(1)Article 139: Accounts of Branches of Foreign Licensed Financial Institutions

Branches of foreign Licensed Financial Institutions must keep separate accounts, including a balance sheet and profit and loss account, for all their operations in the State.

Article 140(1)Article 140: Auditors of Accounts of Licensed Financial Institutions

Licensed financial institutions must appoint Central Bank-approved auditors and submit the auditors' report, balance sheet and profit and loss account to the Central Bank at least 20 working days before the general assembly.

Article 140(2)-(5)Article 140: Auditors of Accounts of Licensed Financial Institutions

Licensed financial institutions must await Central Bank remarks before holding general assembly, publish auditor reports within 20 working days, and avoid auditor board seats or credit extensions.

Article 141: Publication and Posting of Accounts Information

Licensed Financial Institutions must publish audited financial statements, auditors' report, board and senior executive names, and subsidiary or related entity names on their websites and branches, plus any Central Bank-required information.