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4.5 Licensed Premises and Products [Article 9.1 (e) of the Regulations]

N 35/2018 STA
  1. 4.5.1The Licensed Person is not permitted to carry out its activities including the KYC Process from any place outside the premises approved by the Central Bank apart from an exception under Paragraph 4.5.7 of this Chapter;
  2. 4.5.2Paragraph 4.5.1 of this Chapter shall not deter the Licensed Person from conducting site visits as part of completing Enhanced Due Diligence in accordance with Paragraph 16.11.2 (d) of Chapter 16;
  3. 4.5.3The Licensed Person is not permitted to carry out its activities from any temporary counters, extension counters or in a client’s office, client’s residence or from any place outside its approved premises;
  4. 4.5.4The Licensed Person, who participates in WPS, may distribute salaries in cash outside its licensed premises (i.e. at client’s premises) until payroll cards are introduced in accordance with Paragraph 1.2.3 (e) of Chapter 1 provided that the Licensed Person:
    1. a)has obtained the necessary approvals from the police authorities in the respective Emirates; and
    2. b)complies with all applicable Laws, Rules, Regulations and Notices in relation to security and safety.
  5. 4.5.5The Licensed Person is not permitted to engage in any business activities other than those in accordance with Paragraph 1.2 of Chapter 1;
  6. 4.5.6The Licensed Person must not lease out or rent out its licensed premises to any other party; and
  7. 4.5.7The Licensed Person may carry out the KYC Process for its customers, who are natural persons, outside the premises approved by the Central Bank subject to the following conditions:
    1. a)The KYC Process must be carried out directly by the employees of the Licensed Person;
    2. b)The Licensed Person must accept only Emirates ID of the customer as the identification document;
    3. c)Information of the Emirates ID must be extracted using a card reader obtained from the Emirates ID Authority; and
    4. d)A copy of the Emirates ID certified as “Original Sighted and Verified” under the signature of the employee who carries out the KYC Process must be retained. Alternatively, a print out of the extract of information obtained using the Emirates ID card and reader containing customer information must be retained. This print out must be certified as “Original Sighted and Verified” under the signature of an employee of the Licensed Person.