UAE and Saudi central banks to take joint enforcement measures on the insurance sector

Mark Battersby
clock • 1 min read

The Central Bank of the UAE signed a Memorandum of Understanding (MoU) with the Saudi Central Bank (SAMA) on 19 September to establish a general framework for the supervision of the insurance sector in both countries. As part of the agreement, the two countries will exchange supervisory and regulatory information related to solvency rules, the calculation of technical allocations, investment policy rules, and procedures related to supervision, follow-up, and enforcement of regulations on insurance companies, including cross-border companies, the UAE central bank said on Tuesday. The U...

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