UAE to improve banks' corporate governance

The Central Bank of the United Arab Emirates published new draft corporate governance guidelines for the banking sector on Thursday, saying that, as leading contributors to the economy, commercial banks had to have high management and corporate governance standards.

"Directors will need to embark on a journey and central bank supervisors will help you, and they will be monitoring your progress towards full compliance as part of their risk-based supervision," said Sultan Bin Nasser Al Suwaidi,

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