Regulatory Overview
Numu Financial Technology LLC operates under the supervision of the Dubai International Financial Centre (DIFC) Authority. We are committed to maintaining the highest standards of regulatory compliance, transparency, and ethical business practices.
DIFC License Information
Company Name: Numu Financial Technology LLC
License Number: [License Number]
Regulated Activities: Financial Technology Services, Invoice Financing
Regulator: Dubai Financial Services Authority (DFSA)
Regulatory Framework
DIFC Regulations
As a DIFC-licensed entity, we adhere to comprehensive regulations covering:
- Financial Services: Conduct of business rules and client protection standards
- Anti-Money Laundering (AML): Comprehensive AML policies and transaction monitoring
- Know Your Customer (KYC): Robust identity verification and due diligence procedures
- Data Protection: DIFC Data Protection Law No. 5 of 2020 compliance
- Corporate Governance: Board oversight and management accountability
UAE Federal Regulations
We comply with applicable UAE federal laws including:
- UAE Federal Law No. 45 of 2021 on the Protection of Personal Data (UAE PDPL)
- UAE Commercial Companies Law
- UAE Anti-Money Laundering and Counter-Terrorism Financing regulations
- UAE Cybercrime Prevention Law
Compliance Programs
Anti-Money Laundering (AML)
- Designated AML Compliance Officer
- Risk-based customer due diligence
- Ongoing transaction monitoring
- Suspicious activity reporting (SAR)
- Annual AML training for all staff
Know Your Customer (KYC)
- Identity verification for all clients
- Business ownership verification
- Enhanced due diligence for high-risk clients
- Periodic KYC reviews and updates
- Source of funds verification
Data Protection
- Data Protection Officer appointed
- Privacy by design principles
- Regular data protection audits
- Data breach response procedures
- Customer privacy rights management
Information Security
- ISO 27001 certified practices
- Regular security assessments
- Incident response procedures
- Business continuity planning
- Vendor security due diligence
Client Protection
Fair Treatment of Customers
We are committed to treating all customers fairly and ethically:
- Transparent Pricing: Clear disclosure of all fees and charges before you commit
- Responsible Lending: Credit decisions based on affordability and sustainability
- Clear Communication: Plain language in all agreements and communications
- Fair Terms: Balanced contractual terms without hidden conditions
- Accessible Support: Responsive customer service in Arabic and English
Complaint Handling
We maintain a formal complaint handling process in accordance with DIFC requirements:
- Submit: Contact us via email at complaints@numufinance.com
- Acknowledgment: We acknowledge receipt within 48 hours
- Investigation: Thorough review by our compliance team
- Resolution: Response provided within 15 business days
- Escalation: If unresolved, refer to DIFC authorities
Risk Management
We maintain a comprehensive risk management framework covering:
Credit Risk
- Automated credit scoring and risk assessment
- AECB credit bureau checks for all applicants
- Portfolio monitoring and early warning systems
- Concentration risk limits and diversification
Operational Risk
- Business continuity and disaster recovery plans
- Regular operational risk assessments
- Technology risk management and cybersecurity
- Third-party vendor risk management
Fraud Prevention
- Multi-layered fraud detection systems
- Real-time transaction monitoring
- Document verification and authenticity checks
- Suspicious activity investigation procedures
Governance & Oversight
Board of Directors
Our Board of Directors provides strategic oversight and ensures compliance with all regulatory obligations. The Board meets regularly to review risk, compliance, and business performance.
Compliance Function
Our dedicated compliance team monitors adherence to regulations and internal policies:
- Independent compliance officer reporting to the Board
- Regular compliance monitoring and testing
- Regulatory relationship management
- Policy development and maintenance
- Staff compliance training and awareness
Internal Audit
Independent internal audit function provides assurance on the effectiveness of our controls and compliance programs.
Disclosure & Transparency
Financial Disclosures
We provide clear disclosure of:
- Interest rates, fees, and charges before you commit
- Total cost of financing including all charges
- Payment schedules and obligations
- Consequences of late payment or default
Terms & Conditions
All agreements are provided in clear language with:
- Complete terms and conditions before acceptance
- Explanation of key terms and obligations
- Right to review and ask questions
- Copy of signed agreement for your records
Responsible Business Practices
Ethical Standards
All employees adhere to a comprehensive Code of Conduct covering:
- Conflicts of interest management
- Anti-bribery and corruption
- Confidentiality and data protection
- Professional integrity and competence
Financial Crime Prevention
We maintain zero tolerance for financial crime:
- Comprehensive sanctions screening
- Politically exposed persons (PEP) identification
- Counter-terrorism financing measures
- Whistleblower protection policy
Regulatory Reporting
We submit regular reports to regulatory authorities including:
- Financial statements and prudential returns
- Compliance monitoring reports
- Suspicious activity reports (SARs)
- Material incident notifications
- Regulatory capital and liquidity reports
Contact Our Compliance Team
Important Notice: Numu Financial Technology LLC is licensed and regulated by the Dubai Financial Services Authority (DFSA) under license number [License Number]. Numu is not a bank. Financing subject to credit approval and invoice verification. Fees apply. For more information about our regulatory status, please visit the DFSA website or contact us directly.