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3. Defined Terms



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In the Law, unless the context indicates otherwise, the defined terms listed below shall have the corresponding meanings:

Term Definition
Authorised Firm a person who holds a Licence to carry on one or more Financial Services prescribed pursuant to Article 42(1) of the Regulatory Law 2004.
Authorised Market Institution a person who is licensed by the DFSA in relation to the carrying on of one or more Financial Services prescribed pursuant to Article 42(1) of the Regulatory Law 2004.
Authorised Person has the meaning given in Schedule 1 to the Regulatory Law 2004.
DFSA Board of Directors the governing body of the DFSA, established under Chapter 2 of Part 2 of the Regulatory Law 2004.
DFSA the Dubai Financial Services Authority.
DIFC the Dubai International Financial Centre.
Financial Markets Tribunal the Financial Markets Tribunal referred to in Article 26 of the Regulatory Law 2004.
FMT the Financial Markets Tribunal.
Financial Service is an activity prescribed in the Rules made under Article 41(3) of the Regulatory Law.
Law the Law Regulating Islamic Financial Business 2004.
Licence a Licence granted by the DFSA under Chapter 2 of Part 3 of the Regulatory Law.
Markets Law the Markets Law 2012.
Regulatory Law the Regulatory Law 2004.
Rules has the meaning given in Article 2 of Schedule 1 to the Regulatory Law 2004.
Shari'a Supervisory Board a board appointed by an Authorised Firm or Authorised Market Institution pursuant to Article 13(1) of this Law.
State United Arab Emirates