A member of the Board of Directors shall satisfy the following conditions: 1. Must hold UAE nationality; 2. Have experience in economic, financial, or banking affairs; 3. Not have been declared bankrupt or failed to repay his debts; 4. Not have been convicted, of a felony or a misdemeanor involving moral turpitude or dishonesty, unless rehabilitated; 5. Not an active minister, except the Chairman; 6. Not a member of the ‘Federal National Council’; 7. Not holding any position, a job or board of directors’ membership of any institution licensed by any of the Regulatory Authorities in the State or by any of the regulatory authorities in the Financial Free Zones; and 8. Not an auditor of accounts of a Licensed Financial Institution, nor owner, agent, or partner in any accounts audit firm.
Interpretation and application must be checked against the official text and current version.