A Corporate Banking Resolution is an essential document required when establishing or modifying banking relationships in the United Arab Emirates. It is used whenever a company needs to set up new banking arrangements, change authorized signatories, or modify banking powers. The resolution must comply with UAE Federal Law No. 32 of 2021 (Commercial Companies Law) and UAE Federal Decree-Law No. 14 of 2018 (UAE Central Bank Law), making it legally binding and acceptable to UAE banks. This document typically includes details about authorized signatories, transaction limits, permitted banking activities, and specific banking products the company may use. It serves as the primary reference document for banks to verify the authority of individuals acting on behalf of the company and is particularly important in the UAE's highly regulated banking environment where corporate governance requirements are strictly enforced.
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1. Corporate Details: Full legal name of the corporation, registration number, and registered address
2. Resolution Date and Meeting Details: Date of the board meeting/resolution and details of how it was conducted
3. Authority Establishment: Statement establishing the board's authority to pass banking resolutions
4. Bank Details: Full details of the designated bank(s) and branch(es)
5. Authorized Actions: Comprehensive list of authorized banking activities (account opening, operations, borrowing, etc.)
6. Authorized Signatories: Names, positions, and signing powers of designated individuals
7. Signing Requirements: Specifications for single/joint signatures and transaction limits
8. Certification: Declaration of the resolution's validity and compliance with company constitution
1. Online Banking Authorization: Specific provisions for digital banking services and authorized users - include when company requires online banking access
2. Foreign Currency Dealings: Special provisions for foreign currency transactions - include for companies engaging in international trade
3. Credit Facility Authorization: Specific provisions for borrowing powers - include when company requires credit facilities
4. Trade Finance Powers: Authorization for trade finance instruments - include for companies involved in import/export
5. Islamic Banking Requirements: Specific provisions for Sharia-compliant banking - include when using Islamic banking services
1. Schedule A - Authorized Signatories List: Detailed list of authorized signatories with specimen signatures and powers
2. Schedule B - Transaction Limits Matrix: Matrix showing transaction limits for different types of transactions and signatory combinations
3. Schedule C - Authorized Banking Products: List of specific banking products and services authorized by the resolution
4. Appendix 1 - Board Meeting Minutes: Copy of the board meeting minutes where resolution was passed
5. Appendix 2 - Corporate Documents: Copies of trade license, certificate of incorporation, and other relevant corporate documents
Relevant legal definitions
Authorized Signatories
Bank
Banking Facilities
Board
Board Resolution
Company
Digital Banking Services
Directors
Electronic Instructions
Financial Instruments
Financial Year
Group
Joint Signatures
Mandate
Meeting
Officers
Quorum
Seal
Secretary
Signing Authority
Signing Limits
Subsidiary
Trade Finance Instruments
Transaction
UAE
Written Resolution
Bank
Banking Facilities
Board
Board Resolution
Company
Digital Banking Services
Directors
Electronic Instructions
Financial Instruments
Financial Year
Group
Joint Signatures
Mandate
Meeting
Officers
Quorum
Seal
Secretary
Signing Authority
Signing Limits
Subsidiary
Trade Finance Instruments
Transaction
UAE
Written Resolution
Clauses
Authority and Powers
Bank Account Operation
Signatory Appointments
Transaction Limits
Execution Requirements
Digital Banking Authorization
Borrowing Powers
Foreign Exchange Authority
Trade Finance Authority
Account Opening Authority
Documentation Powers
Specimen Signatures
Bank Instructions
Certification and Authentication
Amendment Procedures
Effective Date
Governing Law
Previous Resolutions
Secretary's Certificate
Board Confirmation
Bank Account Operation
Signatory Appointments
Transaction Limits
Execution Requirements
Digital Banking Authorization
Borrowing Powers
Foreign Exchange Authority
Trade Finance Authority
Account Opening Authority
Documentation Powers
Specimen Signatures
Bank Instructions
Certification and Authentication
Amendment Procedures
Effective Date
Governing Law
Previous Resolutions
Secretary's Certificate
Board Confirmation
Relevant Industries
Banking
Financial Services
Corporate Services
Manufacturing
Trading
Real Estate
Construction
Retail
Technology
Healthcare
Hospitality
Education
Professional Services
Logistics
Energy
Relevant Teams
Legal
Finance
Treasury
Corporate Governance
Executive Leadership
Company Secretariat
Compliance
Operations
Accounts
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Finance Director
Managing Director
General Manager
Financial Controller
Treasury Manager
Company Secretary
Legal Counsel
Board Director
Chairman
Vice President of Finance
Accounts Manager
Operations Director
Corporate Banking Manager
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