Merger between the Emirati Insurance Authority and the Central Bank

The Emirati government has taken a decision to merge the Insurance Authority with the Central Bank. This involves transferring all the powers of the Securities and Commodities Authority (SCA) to the local stock markets.

The purpose of this transaction is to increase the efficiency of the insurance sector and the competitiveness of the Emirati financial markets.

It should be recalled that in July 2020, the government merged the insurance regulatory authority with the Securities and Commodities Authority (SCA).

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