UAE Central Bank to issue risk management, governance regulations

Risk management is a “key focus” in 2016, said James O’Brien, head of Regulatory Development at the Central Bank. The bank currently reviewing regulations in that area having a “significant agenda on the regulatory framework front” for non-bank financial institutions, with the regulations also currently under review. Additionally Central Bank “plans to embark on new corporate governance regulations for banks in the UAE,” which will include clear emphasis on board and management accountability.