CBUAE Governor Reviews Key Developments with UAE Exchange Houses

UAE, 27 September, 2024 : His Excellency Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE), held a roundtable with the Foreign Exchange and Remittance Group to discuss key developments in the UAE's exchange business sector. CBUAE Assistant Governors also participated.

The discussion focused on the sector’s contribution to the UAE's financial services, with over 1,000 exchange house branches operating nationwide. The meeting covered prudential supervision, market conduct, AML/CFT priorities, and regulatory updates. 

The Governor emphasized the importance of improving the regulatory framework and digitalization of financial services while supporting Emiratisation efforts in the sector. He reiterated CBUAE’s commitment to fostering dialogue with financial institutions to strengthen the UAE’s financial landscape.

Source : www.centralbank.ae