Resolution Concerning the Dubai Government Accounts

We, Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, do hereby issue this Resolution.

Article (1)

The Director of His Highness the Ruler's Court (the "HHRC") will manage all the Dubai Government accounts, including Emiri accounts, with all the banks with which the Government of Dubai deals or has dealt. This includes the deposit into, or withdrawal from, these accounts, including the Emiri accounts; and the receipt or collection of any amounts owed to the Government from these banks.

Article (2)

The Director of the HHRC may delegate, in writing, any of the powers mentioned in the preceding Article to any of the employees of the HHRC. This includes the power to sign on his behalf on the receipt of any amounts owed to the Government from any bank within or outside of the United Arab Emirates.

Article (3)

The Director of the HHRC must implement this Resolution. This Resolution will be published in the Official Gazette.

Hamdan bin Rashid Al Maktoum Deputy Ruler of Dubai

Issued in Dubai on 28 October 1998 Corresponding to 8 Rajab 1419 A.H.