Document background
The Board Resolution To Borrow Template is a critical corporate governance document used in the United Arab Emirates when a company needs to obtain financing or enter into credit arrangements. This document is required by UAE banks and financial institutions as evidence that the company's board has properly authorized the borrowing in accordance with UAE Federal Law No. 32 of 2021 and other applicable regulations. The resolution typically includes details about the approved borrowing amount, purpose of the loan, designated signatories, and any specific conditions attached to the borrowing authority. It serves as a protection for both the company and the lender by clearly documenting the board's approval and the scope of borrowing authority granted. The document must be drafted in compliance with both the company's Articles of Association and UAE corporate governance requirements.
