Pemo may temporarily restrict your company account when required documents or information are missing. Submit the requested information within the relevant timeframe to avoid disruption.
Expired trade licence
Your business must maintain a valid trade licence as proof of its legal right to operate.
After it expires, you have 90 days to renew and submit the updated licence. If you miss this deadline, your account is temporarily restricted.
Provisional approval
Your account may be activated on the condition that you provide specific documents within a set period. Your account is restricted if the documents are not provided in time.
Missing bank statement or bank letter: You have 30 days to provide a document from the past three months.
Missing Memorandum of Association (MOA): You have 30 days to provide the updated document.
Missing renewed Emirates ID: You have 14 days to submit the renewed Emirates ID for the relevant shareholder or manager. If it is not submitted within that time, the account is temporarily restricted.
Request for information
A request for information (RFI) is sent when additional documentation or clarification is required. The timeframe depends on the type of request:
Transaction RFI: This applies when our financial partner or associated banks need information about specific transactions. You may need to provide invoices or receipts to verify the flow of funds, particularly for cash withdrawals. You have 7 days to respond before your account is restricted.
Individual Screening RFI: This requests information about an individual associated with the account, such as an owner or shareholder. You have 7 days to provide the information before your account is restricted.