“Central Bank approves the controls of the work of” Union Credit Information “

Media In – Abu Dhabi 26 June 2018 / WAM /
The Board of Directors of the Central Bank of the UAE, during its fifth meeting of 2018, held recently chaired by Khalifa Mohammed Al-Kindi, Chairman of the Board of Directors, controls the work of the Union of Credit Information and directed to take the necessary steps in this regard after he read the report prepared in this regard.
The Council also reviewed during its meeting on a presentation on the governance of the Central Bank “Committees and their specializations and secretariats and the system of powers of the organizational units” and took the necessary decisions thereon.
The Board reviewed the applications submitted by banks and other financial institutions in the country and approved the completed applications of the conditions according to the law and regulations in force for each activity.
The Council also reviewed a report on the policy of reporting violations, a policy prepared in accordance with the leading practices in this field and in line with the objectives of the Office of the Presidency of the Council of Ministers regarding the adoption of best international practices for the governance of federal institutions in the UAE.
The Council also discussed a report on the overall framework of the risk management policy and the policy of combating corruption and conflict of interest, and took the necessary steps regarding them. He also completed the discussion of the other topics on his agenda and other developments and took the appropriate decisions.