UAE c.bank says monitoring job cuts in financial industry - Reuters:
United Arab Emirates’ (UAE) central bank said on Saturday it is closely following recent job cuts in the financial sector, after banks in the country shed hundreds of jobs in the last few months.
“We are closely following the recent occurrences of downsizing amongst financial institutions in the country to ensure that downsizing is not adversely affecting regulatory compliance and market conduct,” the Central Bank of the UAE said in a statement.
The statement came as banks accelerate job cuts due to mergers, a sluggish economic environment and a reduction in branches as banks encourage more online banking.
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