UAE merges Insurance Authority with Central Bank
UAE merges Insurance Authority with Central Bank
Sat, 2020-10-24 11:21
DUBAI: The UAE's Insurance Authority has been has merged with the country's central bank, Dubai Ruler Sheikh Mohammed bin Rashed Al-Maktoum announced on Twitter.
"Today we issued a decision to merge the Insurance Authority with the Central Bank 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 the local financial markets,“ he said.
أصدرنا اليوم قراراً بدمج هيئة التأمين مع المصر٠المركزي .. ونقل كاÙØ© صلاØيات هيئة الأوراق المالية والسلع التشغيلية والتنÙيذية لأسواق الأوراق المالية المØلية مع اØتÙاظ الهيئة بالتنظيم والرقابة على الأسواق المالية المØلية ..
“” HH Sheikh Mohammed (@HHShkMohd) October 24, 2020
The restructuring aims to raise the efficiency of the insurance sector and the competitiveness of the local financial markets, Al-Maktoum
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