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  • COB 4.3 COB 4.3 Providing Credit

    • COB 4.3.1

      (1) An Authorised Firm may, subject to (2), Provide Credit to a:
      (a) Professional Client or Market Counterparty; and
      (b) Retail Client, but only where:
      (i) the Retail Client is an Undertaking; and
      (ii) the Credit Facility is provided to the Retail Client for a business purpose.
      (2) An Authorised Firm, in the course of Providing Credit, must not:
      (a) Provide Credit in the U.A.E. Dirham; or
      (b) undertake currency or foreign exchange transactions involving the U.A.E. Dirham.
      Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]
      [Added] DFSA RMI267/2020 (Made 26th February 2020). [VER36/04-20]