In a significant milestone for institutional governance, the Central Bank of the UAE has obtained the prestigious international certification for effective governance systems (BS 13500) from the British Standards Institute. This achievement highlights the bank’s unwavering commitment to adhering to the highest global standards in governance, reinforcing its role as a leading regulatory reference in the financial sector.
Commitment to High Governance Standards
His Excellency Khaled Mohamed Balama, Governor of the Central Bank of the UAE, remarked, “The Central Bank’s attainment of the international certification for effective governance systems (BS 13500) from the British Standards Institute underscores our dedication to implementing the highest standards of corporate governance. It enhances our stature as a regulatory institution built on trust and transparency.”
A Symbol of Institutional Maturity
The certification was presented to Ibrahim Al-Sayed Mohamed Al-Hashimi, Assistant Governor of the Central Bank for the Executive Office Sector and Secretary General of the Board of Directors, by representatives from the British Standards Institute. Al-Hashimi stated, “Developing an institutional governance framework is no longer an organizational option; it has become a fundamental pillar for ensuring the effectiveness of institutional work, enhancing regulatory frameworks, and establishing a culture of commitment and accountability, which positively reflects stability in the financial system and the trust of the community and banking sector.”
International Accreditation as a Cornerstone
This high-level international accreditation confirms the Central Bank’s adoption of a comprehensive framework for corporate governance, based on fairness, equality, transparency, and accountability. Such initiatives not only enhance institutional performance but also support quality decision-making and foster trust among various key stakeholders.
Paving the Way for Sustainable Leadership
The successful attainment of the international certification for effective governance systems (BS 13500) represents a proactive and trust-centered approach within the Central Bank, driving a commitment towards sustainability. This achievement serves as a foundation for leading the future of the financial sector with efficiency and competence, aligning with upcoming aspirations while continuing the adoption of the best international practices.