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Home›Media›UAE Central Bank to merge with Insurance Authority

UAE Central Bank to merge with Insurance Authority

By Money Exchange News
October 26, 2020
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UAE Central Bank

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 the Central Bank of UAE … and transfer all the powers of the Securities and Commodities Authority, operational and executive, to the local stock markets, while the Authority maintains regulation and oversight of local financial markets.

“The new economic organization in the country aims to raise the efficiency of the insurance sector … and raise the efficiency and competitiveness of our local financial markets and give them greater flexibility in their work … and our goal in all of this is to enhance the competitiveness of our national economy … Our government will remain flexible, supportive and fast in making appropriate economic decisions.

These were the details of the news UAE announces merging of the Insurance Authority into the Central Bank… for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

Tagsuae central bank announcementuae central bank careersuae central bank complaintuae central bank exchange ratesuae central bank governoruae central bank news
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