UAE Central Bank restricts structured retail product sales
The Central Bank of the United Arab Emirates (UAE) has surprised industry participants by clamping down on the sale of structured products to retail clients, disclosing new rules in a statement issued to banks on August 2.
The Bank defines a structured product as a "pre-packaged investment strategy which has embedded options related to a single security/stocks, a basket of securities, indexes, commodities, debt, credit and or/foreign currencies."
If a bank wants to sell structured products to its customers, it is now
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