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Article (1): Definitions

The following terms and phrases shall have the definitions assigned to them for the purpose of this Regulation:

  1. UAE; The United Arab Emirates.
     
  2. Central Bank: The Central Bank of the UAE.
     
  3. Central Bank Law: Decretal Federal Law No. (14) of 2018 Regarding the Central Bank & Organization of Financial Institutions and Activities, as amended).
     
  4. Licensed Financial Institution: as defined in the Central Bank Law.
     
  5. Working day/s: Monday to Friday excluding public holidays.
     
  6. The weekends: Saturday and Sunday.
     
  7. The Integrated Regulatory Reporting System: (https://131.5.15.15/cbuaeirr/) is a unified data collection & reporting framework to collect & analyse data submitted by all the Licensed Financial Institutions.
     
  8. Card Transactions: All cashless payment modes including but not limited to virtual wallets, digital cards, plastic cards e.g. debit cards, credit cards, store cards, prepaid cards and all other such card payments.
     
  9. ATM: Automated Teller Machine.
     
  10. CDM: Cash Dispensing Machine, Cash Deposit Machine, and/or Cheque Deposit Machine.
     
  11. CARD BINS: Bank Identification Number (“BIN”)

    The terms mentioned in the Central Bank Law shall bear the same meanings ascribed thereto in the said Law when used in this Regulation, unless a definition otherwise is stated herein.