A financial free zone shall be established by federal decree. It shall have a corporate body and shall be duly represented by the president of its board. The free zone and no one else shall be responsible for the obligations arising from the conduct of its activities. The financial free zone and all the operations conducted therein shall be subject to the Federal Law regarding the Criminalisation of Money Laundering. These zones and financial activities shall also be subject to all federal laws with the exception of federal civil and commercial laws.
The financial free zone shall abide by several obligations with regard to financial banking activities, the licensing standards of companies, and other obligations set forth herein.
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