Emirates Free Zone has the infrastructure ready for banking
For any institution that wants to carry out banking business, it is essential to have a banking license since it is requested as a legal prerequisite and is that in most territories a company is not allowed to carry the words like bank, insurance , national, within your name unless you have the corresponding license for that purpose. Therefore, according to banking regulations, the different territories offer a variety of banking licenses such as
- - Full banking license. General banking activities such as receiving deposits from users in general.
- - International banking license. Also known as offshore banking licenses, which prohibit any local commercial activity.
- - Non-banking financial institution (NBFI). These types of institutions provide financial services without having to adhere to all the regulations that a full banking license requires.