UAE’s Insurance Authority merges with central bank

UAE’s Insurance Authority merges with central bank

Admin 18 hours ago Local News

Abu Dhabi / WAM

The cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the issuance of a federal decree-law regarding the amendments of some functions of the Central Bank of the UAE (CBUAE) and merging the Insurance Authority (IA) with the central bank. The cabinet also issued a federal law by decree regarding the distribution of competencies and authorities between the Securities and Commodities Authority (SCA) and the licenced securities and commodities markets in the country, so that the operational and executive authorities of the SCA are transferred to these markets. The two resolutions come in the light of the government's efforts to enhance the performance of financial