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SHARE The Central Bank of the UAE (CBUAE) issued a new regulation to promote best practice among licensed financial institutions (LFIs) when dealing with small and medium enterprises. The objective of the new rule is to improve SMEs access to financial products and services, the regulator said in a statement on Sunday. “The UAE Government has placed considerable emphasis on developing the SME ecosystem and removing obstacles for a transparent, entrepreneurial, and innovative SME sector in the UAE, which has good access to various financial sources,” Abdulhamid Saeed Alahmadi, governor of the Central Bank of the UAE, said. “To sustain this momentum, the CBUAE aims to ensure that SMEs enjoy the highest business standard when interacting with licensed financial institutions, in line with our new consumer protection mandate.” ....
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