This Resolution implements the FATCA agreement between the UAE and USA to enhance international tax compliance. It defines the roles of Regulatory Authorities, including the Central Bank and Securities & Commodities Authority, in supervising financial institutions. The Decision mandates Reporting UAE Financial Institutions to apply due diligence procedures under Annex I of the Agreement and file Annual Reports or Nil Reports. It establishes a robust enforcement framework, specifying administrative penalties for non-compliance, such as failure to collect self-certification forms or submit accurate data. Furthermore, it outlines grievance procedures and information exchange protocols between competent authorities.