Regulatory Alerts2019-07-18
Corporate Governance Standards for Banks
The Central Bank of the United Arab Emirates issued Circular No. 83/2019 to establish mandatory Corporate Governance Standards for all licensed banks. The document requires boards to uphold strict duties of care, loyalty, and confidentiality while ensuring depositor interests take precedence over shareholders. It mandates robust risk governance frameworks, diverse board composition including female representation, and comprehensive oversight of senior management and related party transactions.
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