The Licensed Person must not accept non-profit organisations such as Co-operative Societies, Charitable Societies, Social or Professional Societies as customers unless they provide an original signed letter from the Ministry of Community Development confirming their identities and permitting them to collect donations and an authorization from the UAE Red Crescent for conducting financial transfers out of the UAE;
16.12.2
CDD and EDD in line with Paragraph 16.11 of this Chapter must be carried out before entering into any business relationship with non-profit organisations; and
16.12.3
Business relationships with non-profit organisations must be approved by the Board of Directors (or by the Owner/Partners where there is no Board of Directors) of the Licensed Person.