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“Giving the Central Bank a broader mandate will ensure that high standards of supervision and regulation apply to all the sectors which we regulate including banking, insurance, money exchangers and payment services providers, the governor of the central bank, Abdulhamid Saeed Al Ahmadi, said. Our vision to build a prosperous insurance sector protects the interests of the policyholders and ensures adequate supervision and regulation, characterised by financially strong and properly managed insurance market participants who follow the highest standards of market conduct.
The supervisory duties being undertaken by the central bank include monitoring the financial solvency of insurance companies, ensuring businesses in the sector act ethically and protecting the rights of the insured, the statement said.
CBUAE commences operational procedures to execute Insurance Authority merger Wed 27th January 2021 | 01:00 PM
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 27th Jan, 2021) The Central Bank of the UAE (CBUAE) has announced the commencement of operational procedures aimed at assuming the supervisory and regulatory responsibility of the insurance sector pursuant to Decretal Federal Law No. (25) of 2020 whereby the merger of the Insurance Authority into the Central Bank was decided.
H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the CBUAE, said, The wise leadership is keen on taking the appropriate decisions to enhance the performance and indicators of federal entities through the unification of efforts to achieve the desired results with a forward-looking vision, specifically given that the banking sector, is a key pillar to the UAE economy.
CBUAE commences procedures for Insurance Authority merger
27 Jan 2021 The CBUAE has recently formed several committees and working groups, chaired by the Governor of the CBUAE, to complete the merger process. The Central Bank of the UAE (CBUAE) has announced the commencement of operational procedures aimed at assuming the supervisory and regulatory responsibility of the insurance sector pursuant to Decretal Federal Law No. (25) of 2020 whereby the merger of the Insurance Authority into the Central Bank was decided.
Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the CBUAE, said, “The wise leadership is keen on taking the appropriate decisions to enhance the performance and indicators of federal entities through the unification of efforts to achieve the desired results with a forward-looking vision, specifically given that the banking sector, is a key pillar to the UAE economy.”
Liberia: Pres. Weah’s “No Room for Errors Rants”, How Serious Can It Be Taken amid Several Downplayed Public Outcry?
Liberia: Pres. Weah’s “No Room for Errors Rants”, How Serious Can It Be Taken amid Several Downplayed Public Outcry?
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Monrovia – As he sails past midway in his six-year tenure, President George Weah has warned his cabinet and members of the Executive branch that it is no time to play if they are to stay on board.
Addressing the 54
th Legislature in his fourth annual message on Monday at an event attended by officials of government and the diplomatic corps, President Weah, at the end of his speech warned his lieutenants that there will be “no room for error.”