UAE Central Bank and Financial Institutions Decree-Law

Article 132 — Article (132) Retroactive Effect of Central Bank Regulations and Decisions

Part Three: Regulation of Licensed Financial Institutions and Activities · Chapter Five: Supervision and Oversight of Licensed Financial Institutions · Section One

The regulations, decisions, or circulars issued by the Central Bank in accordance with the provisions of this decree-law shall have no retroactive effect, and shall not prevent implementation of agreements concluded between Licensed Financial Institutions and their customers prior to their issuance. The Central Bank shall determine the required transitional period for Licensed Financial Institutions to reconcile their respective positions, according to the provisions of this decree-law.

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