The Central Bank of the UAE has announced that it has received the global standard certification for effective governance systems (BS 13500) from the British Standards Institute. This achievement reflects its strong commitment to adopting the highest international standards for sound governance, marking a pivotal step that underscores the maturity of its institutional framework and solidifies its position as a leading regulatory authority.
According to His Excellency Khaled Mohamed Balama, Governor of the Central Bank of the UAE, “The Central Bank’s receipt of the BS 13500 certification from the British Standards Institute reaffirms our dedication to implementing the highest standards of corporate governance, bolstering our status as a trusted and transparent regulatory institution.”
The certificate was presented to Ibrahim Al Hashemi, Assistant Governor for the Executive Office Sector and Secretary-General of the Board of Directors, by representatives of the British Standards Institute as part of this institutional milestone. In this context, Al Hashemi stated, “The development of an effective corporate governance framework is no longer an organizational option; it has become a fundamental pillar to ensure the efficacy of institutional work, enhance regulatory frameworks, and foster a culture of accountability and commitment, which positively impacts the stability of the financial system and the trust of the community and banking sector.”
This esteemed international accreditation affirms the Central Bank’s adoption of a comprehensive governance framework founded on fairness, equity, transparency, and accountability, enhancing institutional performance and supporting quality decision-making, while contributing to strengthening confidence among key stakeholders.
This accomplishment reflects an institutional approach that centers around building trust and serves as a catalyst for sustainability, forming a foundation for leading the future of the financial sector with efficiency and effectiveness, aligning with the aspirations of the forthcoming phase and the continued adoption of best international practices.