Central Bank of the UAEchapter by chapter

Clause 1

Licensed banks operating in the UAE must obtain prior Central Bank approval before accepting public subscriptions to capital of new companies or capital increases, whether the companies are onshore or abroad.

Clause 2

Banks acting as underwriter or intermediary in IPO share issues, such as advertising the issue or collecting application forms, need CBUAE approval; mere transfers at customer request do not.

Clause 3

Banks applying to the Central Bank for IPO participation must provide foreign-issuer entitlement certification, full share issue terms, and written confirmation they will protect subscriber interests, including refunds and timely certificate delivery.

Clause 4

Banks must disclose all decision-relevant IPO information to customers, including audited accounts summaries, allotment and refund deadlines, interest on delayed refunds, and foreign exchange gain or loss, and obtain applicant acknowledgement of subscription terms.

Clause 5

Banks participating in IPO subscriptions must give each subscriber a written acknowledgement with the issuer's name and address, shares subscribed, advance amounts paid, certificate and receipt delivery dates, and over-subscription refund deadline.

Clause 6-7

Banks must confirm founder members have paid for their shares at a UAE-operating bank before accepting public IPO subscriptions, and open special subscription accounts with Central Bank approval.

Clause 3 / Clause 5-retRecord Retention — Central Bank application package and subscriber acknowledgement records for each

Banks participating in IPO subscriptions must retain the Central Bank application package and subscriber acknowledgement records for each public subscription; the retention period is not specified in the source.