Regulatory Alerts2021-02-26
Small to Medium Sized Enterprises (SME) - Market Conduct Regulation
The Central Bank of the UAE issued Circular No. 1/2021 to establish market conduct standards for Licensed Financial Institutions interacting with Small to Medium Sized Enterprises. The regulation mandates proactive disclosure, plain language communication, and responsible financing practices to ensure SMEs receive timely information for informed decision-making. It further requires institutions to implement clear complaint resolution mechanisms and appropriate debt counseling to enhance access to financial products and services.
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