Article 1
Definitions of "Transfer Order" and "Currency" stipulated in Article (1) of the aforementioned Federal Decree-Law No. (14) of 2018 shall be replaced with the following definitions:
Transfer Order: | In connection with Financial Infrastructure System, shall mean any of the following instructions: 1.Instructions by a Participant to make funds at the disposal of another Participant, to be transferred, on a book-entry basis, in the accounts of the Settlement Institution for a Clearing and Settlement System; 2.Putting the funds in another way under the control of a Participant pursuant to the rules and procedures of the Financial Infrastructure System; 3.Instructions to discharge from liability to pay for the purposes of the operational rules of a clearing and Settlement System; 4. Instructions by a Participant either to settle an obligation by way of transferring book securities, or transferring those securities; 5.Instructions by a Participant which gives rise to assuming responsibility or discharge from the obligation to pay the amounts owed for retail operations. |
Currency: | The UAE official national currency in the form of paper notes, metal coins and digital currency, and its unit is referred to as the "Dirham". |