Tag: uae central bank news
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UAE Central Bank offers ‘Advanced Executive Certificate’ for its Internal Risk Supervisors
Dubai: The UAE Central Bank has introduced a certificate programme for those operating as ‘risk-based supervision professionals’. The Advanced Executive Certificate represents the second level of the regulator’s internal supervisory certification programme. The objective is to enhance the skills of Central Bank supervisors who examine licensed financial institutions in the UAE, within a risk-based supervisory ... -
UAE Money Exchange House fined Dh 600,000 for transporting cash in civilian car
UAE Money Exchange : UAE Central Bank has fined a local exchange house Dh600,000 for transporting money in an ordinary civilian vehicle rather than recruiting a licensed cash transport company. This is part of a stricter compliance requirement the UAE regulator has been imposing on financial institutions, including exchange houses, to ensure transparency and integrity ... -
UAE Central Bank Unveils More Measures To Shore Up Banks
The Board of the Central Bank of the UAE (CBUAE), has decided on additional measures within the Targeted Economic Support Scheme (TESS), launched initially in March 2020 to further enhance the capacity of the banking sector to support the economy. A press statement issued by the Bank said that these measures consist into reviewing the ... -
UAE Central Bank to introduce Monetary Bills
The Central Bank of the UAE (CBUAE) announced on Monday that effective 11th January, 2021, a new securities issuance programme to licensed financial institutions and eligible investors, named Monetary Bills (M-bills) will be introduced. These securities will be auctioned and traded through Bloomberg’s primary and secondary market solutions and settled through a local platform, compliant ... -
UAE Central Bank extends Tess scheme to June next year
Move will provide relief for banks, finance companies enabling them to provide new loans, facilities to customers affected by the pandemic. The UAE Central Bank has extended its Targeted Economic Support Scheme (Tess) for another six months until June 30, 2021 to continue its support for the economy during the Covid-19 pandemic. From January 1, ... -
UAE Central Bank to merge with Insurance Authority
Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the United Arab Emirates, Prime Minister and Ruler of Dubai, announced today, Saturday, that his government has taken a decision to merge the Insurance Authority with the Central Bank. Sheikh Mohammed said in a tweet on Twitter: “Today we issued a decision to merge the Insurance Authority with ... -
UAE Central Bank launches new regulations regarding reserve requirements
The introduction of these regulations represents the second step towards implementation of the new Dirham Monetary Framework announced earlier this year. ABU DHABI – The Central Bank of the UAE, CBUAE, announced today that, effective 28 October 2020, it will introduce new regulations regarding reserve requirements for deposit-taking licensed financial institutions. The introduction of these regulations ...
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