The Central Bank of the UAE has won a top federal entity award for best performance improvement in the sixth cycle of the Mohammed bin Rashid Government Excellence Award, under the umbrella of the Sheikh Khalifa Government Excellence Programme.
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, honoured the winners at a ceremony at Expo 2020 Dubai, the banking regulator said on Friday.
“Obtaining this award reflects firm evidence of the CBUAE role and efforts in developing its business and services in line with best practices, raising performance levels and strengthening systems that serve the interest of the public in the financial and insurance sector,” the CBUAE said.
The banking regulator has unveiled a number of new initiatives in the past few months to support the country’s financial sector.
These include rolling out an enhanced regulatory framework to supervise banks’ exposure to the real estate sector and issuing guidelines to help licensed exchange houses combat money laundering and the financing of terrorism.
It also signed a bilateral currency swap agreement with the Central Bank of Turkey to strengthen economic ties between the UAE and Turkey.
The CBUAE also extended support measures aimed at helping lenders mitigate the effects of the Covid-19 pandemic by six months until mid-2022, to back the country's continued economic recovery.
Relief measures related to banks' capital buffers, liquidity and stable funding requirements will be extended until June 30 for all lenders operating in the UAE, the banking regulator said in December. The measures are part of the targeted economic support scheme programme it introduced at the start of the pandemic in 2020.
“The Mohammed bin Rashid Government Excellence Award represents a catalyst for the development of government entities in numerous fields,” Khaled Balama, governor of the CBUAE, said.
“Obtaining this award is a great achievement, which will enhance our role in advancing excellence and commitment to continue the transformation journey for further successes in line with the leadership aspirations to be among the leading central banks globally.”
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Asia Cup 2018 final
Who: India v Bangladesh
When: Friday, 3.30pm, Dubai International Stadium
Watch: Live on OSN Cricket HD
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Red Joan
Director: Trevor Nunn
Starring: Judi Dench, Sophie Cookson, Tereza Srbova
Rating: 3/5 stars
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
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Fringe@Four Line-up
October 1 - Phil Nichol (stand-up comedy)
October 29 - Mandy Knight (stand-up comedy)
November 5 - Sinatra Raw (Fringe theatre)
November 8 - Imah Dumagay & Sundeep Fernandes (stand-up comedy)
November 13 - Gordon Southern (stand-up comedy)
November 22 - In Loyal Company (Fringe theatre)
November 29 - Peter Searles (comedy / theatre)
December 5 - Sinatra’s Christmas Under The Stars (music / dinner show)
Company profile
Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
Based: India, UAE and the UK
Industry: EdTech
Initial investment: More than $200,000 in seed funding
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
