Central Bank of UAE issues SME Market Conduct Regulation | Banking – Gulf News
The Central Bank of the UAE (CBUAE) on Sunday issued Small to Medium Sized Enterprises (SME) Market Conduct Regulation to promote best practices among licensed financial institutions (LFIs) when engaging with SMEs.
The objective of the regulation is to enhance SMEs’ access to financial products and services. CBUAE’s introduction of this regulation follows the launch of its new Financial Consumer Protection Regulatory Framework.
“SMEs play a vital role in the UAE’s economy. The UAE government has placed considerable emphasis on developing the SME ecosystem and removing obstacles for a transparent, entrepreneurial, and innovative SME sector in the UAE, which has good access to various financial sources,” said Abdulhamid M. Saeed Alahmadi, Governor of the Central Bank of the UAE.
No comments:
Post a Comment