2-1 A resident natural person or a juridical person may not carry on Hawala activity in the UAE unless he holds a Hawala Provider Certificate issued by the Central Bank in accordance with the provisions of this Regulation.

2-2 Any natural person or juridical person may apply for registration and obtain a Hawala Provider Certificate. The said application shall be made on the Central Bank’s prescribed form for this purpose and be accompanied by the following documents:

1. A statement showing the nature and scope of the Hawala activity carried out by the applicant, in addition to any plans he may have for future business expansion, and details of the applicant’s arrangements for management of his business;
    
2. The applicant’s name, address, age and occupation, along with a true copy of his UAE ID card and/or passport, for natural persons, and a true copy of the commercial license for juridical persons;
    
3. An undertaking by the applicant:
    
   1. to guarantee all transfers for its customers;
       
   2. that the Central Bank bears no responsibility whatsoever towards customer funds regardless of their value;
       
   3. to maintain an account with a bank operating in the UAE to be used for settlement and provide the Central Bank with details of such account;
       
   4. to abide, alike with its agents, by all UAE established laws, including civil laws, commercial companies’ law, federal laws on AML/CFT, and Central Bank Regulations;
       
   5. to notify the competent authorities of the violation of said laws and Regulation;
       
   6. to make his records and documents available for examination by the Central Bank's staff or any third party authorized to act on its behalf;
       
   7. to provide any information or documents the Central Bank may require for the purposes of deciding on the application for registration;
       
   8. to amend the license provided by the relevant economic department to reflect Hawala activity; and
       
   9. to install all security systems (alarm system/CCTV), in accordance with the relevant authority requirements and use authorized cash transit Service providers for bulk currency transfers.

3-2 A Hawala Provider Certificate shall only be granted if the following conditions are met:

1. The applicant undertakes to provide the Central Bank, electronically via the Central Bank’s Remittance Reporting System and/or other applicable Central Bank system, with the data and information on remitters and beneficiaries required as per the forms prepared by the Central Bank for this purpose;
    
2. The applicant is not of UAE nationality and is legally competent and officially residing in the UAF.;
    
3. The applicant is of good conduct and behavior and has not been convicted of any crime of honor or honesty and has not failed to honor his liabilities towards financial institutions or any other creditors. Furthermore, the applicant should not have been declared bankrupt nor reached a settlement agreement with his creditors or have his property confiscated or put under court receivership;
    
4. The applicant has a reasonable level of education, administrative, and professional experience.