The Banking Resolution Template serves as a critical corporate governance document in the United Arab Emirates, essential for establishing and maintaining banking relationships. This template is specifically designed to comply with UAE Federal Law No. 14 of 2018 and UAE Central Bank regulations, providing a standardized format for companies to authorize banking operations, designate signatories, and specify approved banking services. The document is typically required when opening new banking relationships, updating signatory authorities, or modifying banking services. It must be executed through proper corporate authorization, usually via a board meeting or shareholders' resolution, and includes comprehensive details about permitted banking activities, signatory powers, and operational parameters.
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Key Requirements PROMPT example:
Banking Resolution Template
I need a Banking Resolution Template for my UAE-based technology startup to establish a new banking relationship with Emirates NBD, including digital banking services and corporate credit cards, to be effective from March 1, 2025.
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1. Meeting Details: Date, time, location of the board meeting, and confirmation of quorum
2. Corporate Information: Full legal name of the company, registration details, and registered address
3. Attendees and Authority: List of board members present and confirmation of their authority to make decisions
4. Recitals: Background information explaining the purpose and context of the resolution
5. Banking Relationship Resolution: Primary resolution establishing the banking relationship and chosen financial institution
6. Authorized Signatories: Designation of authorized persons for banking operations and their signing powers
7. Scope of Authority: Detailed description of permitted banking transactions and limits
8. Operating Instructions: Specific instructions for account operation, including signing combinations
9. Regulatory Compliance: Confirmation of compliance with UAE Central Bank regulations and AML requirements
10. Certification: Authentication of the resolution by authorized corporate officers
1. Digital Banking Services: Authorization for online banking services and digital platforms
2. International Banking Operations: Required when the company needs international banking services or foreign currency accounts
3. Credit Facility Authorization: Include when seeking approval for loans, credit lines, or other banking facilities
4. Investment Authority: Required when authorizing investment activities or securities trading
5. Islamic Banking Services: Include when the company requires Sharia-compliant banking services
6. Trade Finance Authorization: For companies requiring letter of credit, bank guarantees, or other trade finance products
7. Corporate Credit Cards: Authorization for issuance and management of corporate credit cards
1. Schedule A - Authorized Signatories List: Detailed list of authorized signatories with specimen signatures and signing limits
2. Schedule B - Signing Matrix: Matrix showing different transaction types and required signing combinations
3. Schedule C - Banking Services: List of specific banking services authorized by the resolution
4. Schedule D - Account Details: List of bank accounts covered by the resolution
5. Appendix 1 - Required Documentation: List of supporting documents required by the bank
6. Appendix 2 - Regulatory Declarations: Required declarations under UAE banking regulations
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Corporate Services
Manufacturing
Retail
Construction
Healthcare
Technology
Energy
Real Estate
Trading
Hospitality
Professional Services
Education
Logistics
Import/Export
Relevant Teams
Legal
Finance
Treasury
Compliance
Corporate Governance
Risk Management
Operations
Board Secretariat
Internal Audit
Corporate Affairs
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Finance Director
Company Secretary
Treasury Manager
Financial Controller
Board Director
Managing Director
General Manager
Accounts Manager
Corporate Governance Officer
Legal Counsel
Compliance Officer
Risk Manager
Operations Director
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