Changing the Settlement Account

The Member can request to move the Settlement Account from the bank they are dealing with to another settlement bank affiliated with the Dubai Clear.

NIL

1. Submit a letter of commitment to pay all dues towards the current settlement bank.

2. Send an official letter addressed to Dubai Clear General manager indicating the following:

• The new settlement account number with the new settlement bank.
• Specify the date on which the settlement with the new settlement bank will start.
• Letter of commitment settling all dues.

3. Dubai Clear reviews submitted documents

4. Submit a copy of the letter of commitment to the new settlement bank (indicating the new settlement account is in US$ and AED) or send a letter of commitment not to trade in US$ (if the member does not have an account in US$).

5. Dubai Clear approves request and applies the change

1. An official Letter addressed to the Dubai Clear General Manger with the request.
2. A copy of the letter of commitment sent to the new settlement bank (A letter of commitment of not trading in US Dollars.)

The request can be submitted through eServices by filling the General Request Form