1 Activities

Activities

Finance House P.J.S.C. (the “Company”) is a Public Joint Stock Company incorporated in Abu Dhabi, United Arab Emirates (U.A.E.) in accordance with the provisions of the U.A.E. Federal Commercial Companies Law No. (2) of 2015, the U.A.E. Central Bank, the Monetary System and Organization of Banking Law No. (10) of 1980 and under authority of resolutions of the Board of Directors of the U.A.E. Central Bank relating to Finance Companies.

UAE Federal Law No. 2 of 2015 (“Companies Law”) which is applicable to the Group has come into effect on 1 July 2016. The Group is currently assessing and evaluating the relevant provisions of the Companies Law. It has twenty four months from the effective date of the Companies Law to fully comply with the Companies Law under the transitional provisions set out therein.

The Company was established on 13 March 2004 and commenced its operations on 18 July 2004.  The Company performs its activities through its head office in Abu Dhabi and its Abu Dhabi, Dubai, Sharjah and Alain branches. The principal activities of the Company consist of investments, consumer and commercial financing and other related services.

The registered head office of the Company is at P.O. Box 7878, Abu Dhabi, U.A.E.

The consolidated financial statements of the Group were authorised for issue by the Board of Directors on 12 February 2018.

The Group has not made any social contributions during the financial year ended 31 December 2017.