ABU DHABI, The Central Bank of the UAE (CBUAE) supports the steps taken by the Board of Investbank, under the direction of the shareholders, which initiate the relevant legal proceedings with respect to those responsible for the financial violations.
The disclosure by the bank issued today holding violators accountable and take legal action accordingly, aligns with the requirements of CBUAE’s Corporate Governance Regulation for Banks.
The CBUAE recognises and highlights that the legal action announced by the bank relates to financial violations before 2019, following its extensive review that concluded recently.
Khaled Mohamed Balama, Governor of the CBUAE, said, “We welcome the steps taken by Investbank, which reflect proper Corporate Governance and the bank’s tangible efforts to hold violators accountable.”
Source: Emirates News Agency