# Financial Services Permission for Accepting Deposits or Providing Credit (Category 1 Commercial Bank) (Dubai International Financial Centre (DIFC))

Source page: https://protegra.io/licensing/licences/bank/difc/

The Financial Services Permission for Accepting Deposits or Providing Credit (Category 1 Commercial Bank) is issued by Dubai Financial Services Authority (DFSA) under DFSA Rulebook: Prudential Investment, Insurance Intermediation and Banking Module (PIB). The legal decision period is No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay. The application fee is USD 70,000.

## At a glance

| Official name | Financial Services Permission for Accepting Deposits or Providing Credit (Category 1 Commercial Bank) [1] |
| --- | --- |
| Issued by | [Dubai Financial Services Authority](https://protegra.io/licensing/regulators/dfsa-difc/) |
| Jurisdiction | [Dubai International Financial Centre (DIFC)](https://protegra.io/licensing/jurisdictions/difc/) |
| Licence family | [Bank / credit institution](https://protegra.io/licensing/licences/bank/) |
| Legal basis | DFSA Rulebook: Prudential Investment, Insurance Intermediation and Banking Module (PIB) [1] |
| Passporting | Domestic only |
| Application fee | USD 70,000 [2] |
| Annual fee | USD 100,000 [2] |
| Statutory decision time | No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay [3] |

## What it lets you do

- [Taking deposits from the public](https://protegra.io/licensing/activities/deposit-taking/)
- [Lending](https://protegra.io/licensing/activities/credit-granting/)
- [Execution of payment transactions](https://protegra.io/licensing/activities/payment-execution/)

- **Taking deposits from the public.** Accepting deposits or other repayable funds from the public, the activity reserved to credit institutions.
- **Lending.** Granting loans, including consumer credit, mortgage credit, factoring and financing of commercial transactions.
- **Execution of payment transactions.** Executing direct debits, card payments and credit transfers, including standing orders, from a payment account.

## Where it is valid

_Valid in Dubai International Financial Centre (DIFC)._

## Cost

_Regulatory costs from the official sources above. Professional fees, staff, office and audit come on top and depend on the business model._

## Buying a company that already holds it

**Prior approval required.** Under Regulatory Law 2004 Article 59 and DFSA Rulebook General Module (GEN) Section 11.8, prior written approval from the DFSA is required before any person becomes a Controller, or increases their holding across 30% or 50% thresholds. A Controller is defined as someone holding 10% or more of shares or voting rights, or exercising significant influence over management. Under GEN 11.8.6, the DFSA must determine an application for approval of a change of control within 90 days of receipt of a duly completed application. [4]

## Sources

1. [dfsaen.thomsonreuters.com: prudential investment insurance intermediation and banking m](https://dfsaen.thomsonreuters.com/rulebook/prudential-investment-insurance-intermediation-and-banking-module-pib-ver5307-26): retrieved 2026-09-24
2. [dfsaen.thomsonreuters.com: fees module fer ver3504 26](https://dfsaen.thomsonreuters.com/rulebook/fees-module-fer-ver3504-26): retrieved 2026-09-24
3. [dfsaen.thomsonreuters.com: regulatory law 1](https://dfsaen.thomsonreuters.com/rulebook/regulatory-law-1): retrieved 2026-09-24
4. [dfsaen.thomsonreuters.com: general module gen ver7207 26](https://dfsaen.thomsonreuters.com/rulebook/general-module-gen-ver7207-26): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.