CBUAE Becomes First Arab Central Bank to Adopt FX Global Code

UAE, 6 March, 2025 : The Central Bank of the UAE (CBUAE) has signed a Statement of Commitment to the FX Global Code, becoming the first central bank in the Arab world to adopt it.

The FX Global Code sets ethical and professional standards in the wholesale foreign exchange market, promoting integrity, transparency, and fairness. By adhering to the Code, CBUAE reinforces its commitment to maintaining a well-regulated and efficient financial market.

H.E. Khaled Mohamed Balama, Governor of CBUAE, stated: "Our adoption of the FX Global Code underscores our dedication to strengthening the UAE’s foreign exchange market and ensuring ethical practices. We look forward to collaborating with international regulators to uphold global best practices.”

CBUAE urges licensed financial institutions in the UAE to review their practices in line with the Code and implement adequate controls to ensure compliance. The move aligns with CBUAE’s broader mission to safeguard financial stability and promote integrity in the market.