The Central Bank of the United Arab Emirates (CBUAE) and the UAE Internal Auditors Association (UAE IAA) have signed a Memorandum of Understanding (MoU), in a strategic move aimed at developing the business environment and modernizing regulatory frameworks in the financial sector.
The MoU was signed by HE Ibraheem Al Sayed Mohamed Al Hashemi, Assistant Governor for Executive Office and Secretary General of the Board of Directors at CBUAE, and HE Abdulqader Obaid Ali, Chairman of the UAE IAA.
The signing ceremony took place at the CBUAE headquarters in Abu Dhabi, in the presence of senior officials and key representatives from both organizations, highlighting the importance of the partnership and their shared commitment to advancing financial supervision and governance.
The MoU aims to strengthen bilateral ties and deepen strategic cooperation between the two entities to elevate the level of financial oversight in the UAE by adopting the highest international internal auditing standards and best-in-class regulatory practices.
The collaboration will introduce innovative initiatives to modernize oversight systems, strengthen supervisory tools, and enhance corporate governance in line with global standards. The partnership also prioritizes developing UAE talent through specialized programs that build expertise and accelerate Emiratization within the internal auditing profession.
Furthermore, both entities will exchange expertise, research, and industry insights, organize joint workshops and conferences, and implement awareness initiatives aimed at fostering a strong culture of internal oversight, transparency, and accountability across companies and institutions nationwide.
HE Ibraheem Al Sayed Mohamed Al Hashemi Assistant Governor for Executive Office Secretary General of the Board of Directors – CBUAE
“This MoU embodies CBUAE’s commitment to the vision of our wise leadership towards pioneering the UAE financial sector. At the CBUAE, we are keen on integrating efforts with all partners to develop professional institutions, modernize work mechanisms, and build specialized national capabilities. Strengthening the culture of financial supervision is a fundamental pillar in making our financial institutions active partners in the sustainable growth and economic prosperity in the UAE.”
HE Abdulqader Obaid Ali, Chairman of the UAE IAA commented that, “Through this collaboration, we aim to empower Emirati auditors and provide them with the latest tools and knowledge that match global standards. This synergy ensures the enhancement of national institutions’ capabilities, enabling them to anticipate future challenges with confidence and efficiency.”
