The objective of this Regulation is to provide a regulatory framework for Hawala Providers in the UAE in order to operate within the UAE financial sector in a robust and prudent manner. As such, the framework set out in this Regulation is aimed at protecting the customers of Registered Hawala Providers and the reputation of the financial system of the UAE.

This Regulation is issued by the Central Bank pursuant to the powers vested in the Central Bank Law.

Where this Regulation includes a requirement to provide information or to take certain measures, or to address certain items listed at a minimum, the Central Bank may impose requirements, which are additional to the list provided in the relevant article.