Sandeep Puri


The UAE has enhanced the authority of the Central Bank over the licensing and regulation of all financial institutions and their activities in the UAE, with the issuance by Decree of Federal Law No. (14) of 2018 (the Central Bank Law). This effectively repeals and replaces the Central Bank Law of 1980 (the 1980 Law), which has become out of date and no longer adequately caters to the needs of the highly complex financial industry, which has developed tremendously over the last 40 years.