EIBOR
One Year6 Months
2.275001.85717

Events Calendar

Nov 2017
S M T W T F S
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2


The UAE Federal Feedback Gateway

Emirates Energy Award

Financial Investment Companies


In order to organize and promote the business of financial investment companies to the appropriate internationally recognized standards and protect investors, the Board of Directors of the Central Bank issued Resolution No. 164/8/94 dated 18.4.1995. The resolution defines financial investment companies as those conducting one or more than one of the following business:

  1. Opening investment accounts and managing portfolios on behalf of others, whether individuals or companies.
  2. Preparing feasibility studies for projects and marketing allotments and stocks of shareholding companies.
  3. Establishing and/or managing investment trust funds.
  4. Establishing and/or managing other investment funds and act as trustee of funds entrusted to it by a trust to manage on behalf of a beneficiary.
  5. Subscribing to companies capital and participating in syndicated loans.
A financial investment company should be a juridical person with a minimum capital of dirham twenty five million dirhams liable to be increased according to the business the company intends to undertake. The resolution also requires that national shareholding should not be less than 51% of the paid-up capital, in addition to other terms and conditions set forth in the regulation.

        

Last Updated on 16, November 2017