We hereby attach page (14) of the Regulations Regarding Bank Loans & Other Services Offered to Individual Customers, please replace page (14) in the copy of the Regulations you have with this page, where paragraph (b) was added.

This amendment shall become effective from the date of this Notice.

Article (19)
Interpretation of these Regulations

The Legal Development Unit of the Central Bank shall be the reference for interpretation of the provisions of these Regulations.
 

Article (20)
Currently Outstanding Loans

1. a- The provisions of these Regulations shall apply to all banks and finance companies including Islamic banks and Islamic finance companies in relation to personal consumer loans and car loans granted by these entities currently existing, except for commissions, fees or any fines charged on them prior to the date on which these regulations come into force, which is considered finalized.
    
2. b- Any borrower may transfer his loan / finance from any bank or finance company operating in the UAE against paying of an early payment fee not exceeding 1% of the outstanding balance of the loan, or AED 10,000, whichever is less. Another bank or a finance company operating in the UAE may accept the transfer regardless of the fact that the loan or the finance balance exceeds the limits allowed under these regulations. In case of excess, however, the balance of the loan or the finance may not be increased by extending an additional loan or a finance to the borrower.
    

Article (21)
Publication

These regulations shall be published in the Official Gazette in both Arabic and English, and shall come into effect one month after date of its publication.