New risk management, governance rules for UAE banks by year-end | Reuters:
"The United Arab Emirates plans to release new risk management and corporate governance rules for banks by the end of this year, a senior central bank official said on Wednesday, as a looming economic slowdown threatens to pressure credit quality.
"We are changing the UAE regulatory framework that will be consistent and transparent as per international standards," James O'Brien, head of regulatory development at the central bank, told a conference of regional regulators.
"There will be a clear emphasis on board and management responsibility and accountability," he said, adding that financial institutions would have prior notice and time to implement the new regulations."
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