Following consultations with Banks operating in the United Arab Emirates (U.A.E), and having conducted comparisons with regulatory requirements in this area, the Central Bank of the U.A.E. is issuing this Regulation to regulate the handling of dormant accounts and unclaimed balances.
This Regulation has been issued pursuant the powers of the Central Bank of the United Arab Emirates in accordance with the Decretal Federal Law no.14 of 2018 Regarding the Central Bank & Organization of Financial Institutions and Activities