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The UAE Federal Feedback Gateway

Emirates Energy Award

Representative Offices


A representative office undertakes one or more of the following activities. The Central Bank's Board of Directors Resolution No. 57/3/1996 dated 14/4/1996 regarding Representative Offices:

  1. Representing the financial institution licensed to deal inside the country, including contacts on its behalf with concerned agencies as well as promoting its services in the local market.
  2. Providing the head office of the licensed financial institution with data relating to economic developments in the country.
  3. Providing customers of the licensed financial institution with information on the local market.
  4. Providing data to local agency, which intends to develop its business at countries wherein the licensed institution conduct its business.
  5. Providing customers with banking, financial and investment consultation services.
The representative offices should represent a bank or any other financial institution incorporated outside the country, holding a valid license obtained from competent authorities. Such bank or financial institution should also be subject to the direct supervision and examination of the said authorities at the country of origin and/or the head office as per laws of the country.


        

Last Updated on 21, November 2017