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5.1.3 General Provisions for Credit Products

C 8/2020 STA Effective from 25/12/2020
  1. 5.1.3.1Refer to Article 2: Disclosure and Transparency for applicable requirements.
  2. 5.1.3.2The criteria for Business Conduct are prescribed by Article 7: Responsible Financing Practice of these Standards.
  3. 5.1.3.3Licensed Financial Institutions must in accordance with Article 7 and without undue delay, allow Consumers to transfer their loan/financing from any bank or finance company operating in the UAE. Licensed Financial Institutions may require payment of an Early Settlement Fee as prescribed by the Central Bank.