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    Dubai FSA Updates Rulebook Modules for Banks in September 2021

    September 22, 2021

    The Dubai Financial Services Authority (Dubai FSA) updated the Rulebook modules for banks, following consultation on a number of proposed legislative changes that were set out in the consultation paper no. 138. The updated modules include General Module, Authorized Market Institutions Module, Conduct of Business Module, Markets Rules Module, Collective Investment Rules Module, Fees Module, Glossary Module, Islamic Finance Rules Module, and Prudential Investment, Insurance Intermediation, and Banking Business Module.

    The following recently published rulemaking instruments (or notices) for financial firms, including banks, insurers, and asset managers, will come into force on October 25, 2021:

    • General Module (GEN) Rule-Making Instrument (No. 309) 2021, which repeals and replaces the General Module (GEN) of the Dubai FSA Rulebook with an updated version
    • Authorized Market Institutions Module (AMI) Instrument (No. 310) 2021, which repeals and replaces the Authorized Market Institutions (AMI) module of the Dubai FSA Rulebook with an updated version
    • Conduct of Business Module (COB) Rule-Making Instrument (No. 311) 2021, which repeals and replaces the Conduct of Business (COB) module of the Dubai FSA Rulebook with an updated version
    • PrudentialInvestment, Insurance Intermediation and Banking Business Module (PIB) Rule-Making Instrument (No. 312) 2021, which repeals and replaces the PrudentialInvestment, Insurance Intermediation and Banking Business Module (PIB) of the Dubai FSA Rulebook with an updated version
    • Markets Rules (MKT) Rule-Making Instrument (No. 313) 2021, which repeals and replaces the Markets Rules (MKT) of the Dubai FSA Rulebook with an updated version
    • Collective Investment Rules (CIR) Rule-Making Instrument (No. 314) 2021, which repeals and replaces the Collective Investment Rules (CIR) of the Dubai FSA Rulebook with an updated version
    • Fees Module (FER) Rule-Making Instrument (No. 315) 2021, which repeals and replaces the Fees Module (FER) of the Dubai FSA Rulebook with an updated version
    • Glossary Module (GLO) Rule-Making Instrument (No. 316) 2021, which repeals and replaces the Glossary Module (GLO) of the Dubai FSA Rulebook with an updated version
    • Islamic Finance Rules (IFR) Rule-Making Instrument (No. 317) 2021, which repeals and replaces the Islamic Finance Rules (IFR) module of the Dubai FSA Rulebook with an updated version

     

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    Effective Date: October 25, 2021

    Keywords: Middle East and Africa, United Arab Emirates, Dubai, Banking, Rulebook, Islamic Finance, Islamic Banking, Dubai FSA

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