UAE merges insurance authority with central bank - Dubai ruler tweet
24 Oct 2020 / 16:16 H.
DUBAI, Oct 24 (Reuters) - The United Arab Emirates has taken a decision to merge the Insurance Authority with the central bank, Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum said on Saturday.
The decision also transfers all operational and executive powers of the Securities and Commodities Authority to the local stock markets, while the SCA maintains regulation and oversight of the local financial markets, Sheikh Mohammed said in a tweet. (Reporting by Yousef Saba Editing by Mark Heinrich)
Did you like this article?
