Over the past few years, key regulators in the UAE have enhanced the regulatory scene with further laws, guidelines and decrees. We have seen the following recent developments in the regulatory landscape:
In addition to the above regulations/laws, each industry and type of entity is governed by regulations/ standards aimed at establishing minimum standards to ensure effective Corporate Governance. All of these standards are geared towards providing key stakeholders and regulators the level of confidence and assurance on the stability and long term sustainability of the entity.
Macroeconomic challenges, whether unforeseen or expected, have resulted in liquidity constraints in both private and public entities, requiring organizations to secure alternate funding sources. Financial institutions view an entity’s governance maturity as a critical indicator of an entity’s going concern, business continuity and long term sustainability, all of which are assessed prior to deciding on providing funding facilities, restructuring existing credit facilities, etc.
Throughout this publication we highlight: