Financial Business Activities in Meydan Free Zone

Activities of Holding
Companies

This class covers the activities of holding companies that hold controlling equity stakes in a group of subsidiary companies, where the principal activity is owning the group rather than managing it. Holding companies in this class do not administer, manage, or provide any services to the businesses in which equity is held. Does not include active management, strategic planning, or operational decision-making for group companies.

Financial Leasing

This class covers leasing arrangements where the lease term covers substantially all of the expected life of the asset, the lessee acquires virtually all the benefits of use, and takes on the risks of ownership. These leases cover all or virtually all costs including interest, and ownership of the asset may or may not ultimately transfer to the lessee. Does not include operational leasing.

Other Credit Granting

This class covers financial service activities primarily concerned with making loans by institutions outside monetary intermediation. Forms of credit include consumer credit, international trade financing, long-term industrial finance, money lending outside the banking system, credit for house purchase by non-depository institutions, and pawnbroking. Does not include credit granting by specialised institutions that also take deposits, operational leasing, or grant-giving by membership organisations.

Other Financial Service Activities, Except Insurance and Pension Funding (n.e.c.)

This class covers financial service activities concerned with distributing funds other than by making loans, including factoring, writing of swaps and options and other hedging arrangements, viatical settlement companies, and own-account investment activities such as venture capital companies and investment clubs. Does not include financial leasing, security dealing on behalf of others, real estate activities, bill collection without debt purchase, or grant-giving by membership organisations.

Life Insurance

This class covers the underwriting of annuities, life insurance policies, disability income insurance, and accidental death and dismemberment insurance policies, with or without a savings element.

Non-Life Insurance

This class covers insurance services other than life insurance, including accident and fire insurance, health insurance, travel insurance, property insurance, motor insurance, marine, aviation and transport insurance, and pecuniary loss and liability insurance.

Reinsurance

This class covers the assumption of all or part of the risk associated with existing insurance policies originally underwritten by other insurance carriers, across both life and non-life lines.

Administration of Financial Markets

This class covers the operation and supervision of financial markets other than by public authorities, including commodity contracts exchanges, futures commodity contracts exchanges, securities exchanges, stock exchanges, and stock or commodity options exchanges.

Security and Commodity Contracts Brokerage

This class covers dealing in financial markets on behalf of others, including securities brokerage, commodity contracts brokerage, stock broking, and bureaux de change. Does not include dealing on own account or portfolio management on a fee or contract basis.

Other Activities Auxiliary to Financial Service Activities

This class covers activities supporting financial services not classified elsewhere, including financial transaction processing and settlement (including for credit card transactions), investment advisory services, mortgage advisory and brokerage, and trustee, fiduciary and custody services on a fee or contract basis. Does not include activities of insurance agents and brokers or fund management.

Risk and Damage Evaluation

This class covers the provision of administration services for insurance, including assessing and settling insurance claims, claims adjusting, risk assessment, risk and damage evaluation, and average and loss adjusting. Does not include appraisal of real estate, other general appraisal purposes, or investigation activities.

Activities of Insurance
Agents and Brokers

This class covers the activities of insurance agents and brokers acting as intermediaries in selling, negotiating or soliciting annuities, insurance policies and reinsurance policies on behalf of insurers.

Other Activities Auxiliary to Insurance and Pension Funding

This class covers activities closely related to insurance and pension funding other than claims adjusting and insurance agency, including salvage administration and actuarial services. Does not include marine salvage activities.