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Bank Deposit Government Guarantee
"I need a Bank Deposit Government Guarantee document for a newly established Islamic bank in Dubai, which will begin operations in March 2025, with coverage for both conventional and Islamic deposits up to AED 500,000 per depositor."
1. Parties: Identifies the Government guarantor, the relevant bank(s), and any other parties to the guarantee
2. Background: Sets out the context of the guarantee, including the regulatory framework and purpose
3. Definitions: Defines key terms used throughout the document, including 'Guaranteed Deposits', 'Triggering Event', and 'Claim Period'
4. Scope of Guarantee: Details the exact nature and extent of the government guarantee, including deposit types covered
5. Amount of Guarantee: Specifies the maximum guarantee amount and any limitations
6. Duration: Specifies the term of the guarantee and any renewal provisions
7. Triggering Events: Defines the circumstances under which the guarantee can be called upon
8. Claims Procedure: Details the process for making and processing claims under the guarantee
9. Payment Mechanics: Specifies how and when payments will be made under the guarantee
10. Bank Obligations: Sets out the ongoing obligations of the bank, including reporting requirements
11. Representations and Warranties: Standard representations and warranties from all parties
12. Governing Law and Jurisdiction: Specifies UAE law as governing law and defines jurisdiction for disputes
13. Notices: Details how formal communications between parties should be made
14. Execution: Signature blocks and execution formalities
1. Islamic Banking Provisions: Required when the guarantee covers Islamic banking deposits or needs to be Shariah-compliant
2. Multiple Currency Provisions: Required when the guarantee covers deposits in multiple currencies
3. Counter-Indemnity: Required when the bank provides counter-indemnity to the government
4. Regulatory Compliance: Additional section for specific regulatory requirements in certain emirates
5. Assignment and Transfer: Required when transfer of rights under the guarantee needs to be addressed
6. Force Majeure: Optional provisions for extraordinary events affecting the guarantee
7. Confidentiality: Required when specific confidentiality provisions are needed beyond standard banking secrecy
1. Schedule 1 - Covered Deposits: Detailed list of deposit types covered by the guarantee
2. Schedule 2 - Claim Forms: Standard forms and procedures for making claims
3. Schedule 3 - Reporting Requirements: Templates and timing for regular reporting by the bank
4. Schedule 4 - Fee Structure: If applicable, details of any fees payable for the guarantee
5. Schedule 5 - Contact Details: Key contact information for all parties
6. Appendix A - Regulatory References: Reference to relevant UAE banking regulations and laws
7. Appendix B - Calculation Methodology: Methodology for calculating guaranteed amounts and any applicable limits
Authors
Eligible Bank
Deposit Protection Scheme
Guarantee Amount
Maximum Coverage Limit
Triggering Event
Claim Period
Settlement Period
Guaranteed Institution
Banking Day
Claim Notice
Deposit Account
Eligible Depositor
Excluded Deposits
Government Guarantee
Islamic Deposit
Conventional Deposit
Payment Date
Protected Account
Regulatory Authority
Scheme Rules
UAE Central Bank
Coverage Period
Default Event
Financial Year
Guarantee Certificate
Guarantee Fee
Implementation Date
Insolvency Event
Material Adverse Effect
Notice of Default
Payment Instruction
Qualifying Deposit
Regulatory Approval
Required Rating
Security Interest
Shariah Board
Subsidiary
Supplemental Guarantee
Termination Date
UAE Dirham
Working Day
Deposit Protection
Payment Obligations
Claims Procedure
Regulatory Compliance
Representations and Warranties
Covenants
Events of Default
Termination
Force Majeure
Assignment
Confidentiality
Notices
Amendments
Governing Law
Dispute Resolution
Islamic Banking Compliance
Reporting Requirements
Indemnification
Counter-Guarantee
Currency Provisions
Record Keeping
Audit Rights
Severability
Entire Agreement
No Waiver
Further Assurance
Costs and Expenses
Time of Essence
Survival
Banking
Financial Services
Government & Public Sector
Regulatory & Compliance
Islamic Banking
Treasury
Public Finance
Legal
Compliance
Treasury
Risk Management
Regulatory Affairs
Government Relations
Islamic Banking
Operations
Finance
Policy & Strategy
Chief Executive Officer
Chief Financial Officer
Head of Treasury
General Counsel
Compliance Officer
Risk Management Director
Banking Operations Director
Regulatory Affairs Manager
Legal Counsel
Treasury Operations Manager
Government Relations Director
Islamic Banking Officer
Deposit Protection Scheme Manager
Financial Controller
Senior Policy Advisor
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