ADGM FSRA’s 2024 Business Plan outlines regulatory priorities, emphasizing its role in UAE’s anti-financial crime efforts.
The Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA) has released a detailed roadmap detailing its regulatory priorities for 2024.
This plan, known as the Business Plan, covers every facet of the FSRA’s activities. It covers everything from oversight and authorization to implementation and emphasizes how its legislative agenda is evolving. It also emphasizes the functions of the ADGM and FSRA in the UAE’s initiatives to identify, deter, and prevent financial crime.
The FSRA’s chief executive officer, Emmanuel Givanakis, stated: “Our strategy and priorities for 2024 are outlined in the Business Plan. Our goal is to support both established and new financial services industry initiatives. Additionally, we wish to concentrate on creating our regulatory framework in the fields of digital assets and sustainable finance.
The Business Plan heavily relies on the FSRA’s promotion of ongoing interaction with both domestic and global stakeholders. This dedication entails promoting major events like Abu Dhabi Finance Week and working closely with both domestic and foreign organizations. The initiative also exemplifies the FSRA’s proactive commitment to employee training and financial literacy promotion in the UAE and the surrounding area.
“Innovation is a cornerstone of our ongoing and plans,” Givanakis continued. This is to improve financial services regulation and oversight. As a result, it will become more successful and efficient for our own operations as well as for the benefit of other businesses in the industry and their clients.
Our constructive interactions with stakeholders have enabled this innovation. This guarantees that our regulatory structure is broad and forward-thinking. Additionally, it offers a strategic strategy that is pertinent to the financial services industry now and in the future. while upholding global norms at all times.
