UAE clamps down on retail sales

The Central Bank of the United Arab Emirates (UAE) has moved to clamp down on the sale of structured products to retail clients, disclosing new rules in a statement issued to banks that manufacture these investments onAugust 2.

In the statement, the Central Bank said it "has decided that it is not desirable that banks operating in the UAE sell structured products to their retail customers, which include high-net-worth individuals".

The bank defines a structured product as a "pre-packaged

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