The Council of Ministers headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, approved the issuance of a federal law decree amending some of the central bank’s functions and merging the insurance authority with the bank, and a federal law decree on the distribution of specializations and powers Between the Securities and Commodities Authority, the securities and commodity markets licensed in the country, so that the powers of the operational and executive authority of these markets are transferred.
His Highness said, via Twitter: “The new economic regulation in the country aims to raise the efficiency of the insurance sector, raise the efficiency and competitiveness of our local financial markets and give them greater flexibility in their work .. Our goal in all of this is to enhance the competitiveness of our national economy. Our government will remain flexible, supportive and fast in taking Appropriate economic decisions ».
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