The SGU of CBUAE shall be a fully functional unit reporting to the governor of CBUAE and shall comprise of a team, which shall be responsible for some aspects as: shariah governance /Compliance, legal policy, product development, research and training and accounting and reporting
Effective supervision and governance of IFIs in the UAE thereby ensuring a conductive regulatory environment for the growth of the Islamic banking and finance industry in the UAE
In 2013, The Islamic Banking Committee of the Federation has launched initiatives to develop the regulatory environment for Islamic banking in the UAE. The Committee has put forward a proposal to establish a Sharia-compliant Governance Unit at the Central Bank. The main objective of this initiative is to create guidelines and policies that are applicable to all types of Islamic financial institutions.