GEN 2.2.10G Guidance

1. Providing currency exchange, although a specified Money Service under GEN Rule 2.6.1(1)(a), cannot be provided as a stand-alone financial service in or from the DIFC. An Authorised Firm may however provide currency exchange where it is in connection with, and a necessary part of, providing another Money Service or another Financial Service (see GEN Rule 2.2.10G). An Authorised Firm may also arrange for another person outside the DIFC to provide a currency exchange service if the Authorised Firm is authorised to Arrange or Advise on Money Services (see GEN Rule 2.32.1).
2. An Authorised Firm that Provides Money Services is also subject to further restrictions relating to not using physical cash and the settlement of Dirham transactions (see COB section 13.2).
Derived from DFSA RMI266/2020 (Made 26th February 2020). [VER48/04-20]