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A modern MRM framework needs more than policy statements. It depends on clear roles, a complete view of the model landscape and a validation process that operates across the entire lifecycle. These pillars create the structure that enables banks to demonstrate control, respond quickly to issues, and meet rising supervisory expectations.

This second installment in our three-part series examines the crucial impact of effective complaints handling on Licensed Financial Institutions (LFIs). We aim to provide valuable insights into conduct risk management and how LFIs can strengthen their control frameworks to meet the Central Bank of the UAE (CBUAE)’s Consumer Protection Regulation and Standards. GT UAE offers expertise in navigating the evolving regulatory landscape and the complexities of maintaining ethical standards while addressing consumer protection and market conduct risks.

This second installment in our three-part series examines the crucial impact of effective complaints handling on Licensed Financial Institutions (LFIs). We aim to provide valuable insights into conduct risk management and how LFIs can strengthen their control frameworks to meet the Central Bank of the UAE (CBUAE)’s Consumer Protection Regulation and Standards. GT UAE offers expertise in navigating the evolving regulatory landscape and the complexities of maintaining ethical standards while addressing consumer protection and market conduct risks.

The UAE’s financial sector is evolving with a focus on consumer protection, market conduct, and ethical practices, driven by innovation and sustainability. Key advancements include the rise of digital banking, fostering a cashless society and greater convenience. Retail lending has increased, boosting profitability, while fintech solutions enhance financial inclusion. CBUAE Consumer Protection Regulations & Standards emphasize integrating conduct risk management in financial institutions to ensure fairness, transparency, and accountability. Further, with the launch of the CBUAE’s Ombudsman “Sanadak” highlights the importance of consumer protection, market conduct and the importance of effective complaints handling. Institutions that neglect conduct risk may face regulatory and reputational issues, while those adopting strong market conduct frameworks can build resilience, consumer trust, and competitiveness. Read the full article to learn more.

Understanding the Central Bank of UAE's Fitness and Propriety Regulation and Standards The Regulation and Standards align with international standard setters and global best practices, reflecting the UAE’s commitment to maintaining and growing a globally competitive financial sector. By adhering to these standards, financial institutions in the UAE can enhance their reputation and credibility on the international stage.

This study evaluates banks' procurement practices exploring amongst other: governance practices, automation levels and risk management effectiveness of the procurement function.

Spurred on by government initiatives and the emergence from COVID-19, the GCC IPO markets are now seeing unprecedented levels of activity, captivating institutional and retail investors alike.

After challenging times, we have the fantastic opportunity to experience the world coming together to celebrate Expo 2020 here in the UAE. Together with our global network of over 58,000 passionate professionals, Grant Thornton UAE, shares the UAE’s commitment in providing businesses and individuals alike with opportunities and support to create a better tomorrow.

The UAE’s recent changes to its commercial law allowing 100% ownership to non-UAE nationals for mainland businesses, is a testament to the country’s commitment to encourage foreign funding and economic diversification.

The disappearance of LIBOR will not only impact UK but it is expected to have worldwide repercussions