The Central Bank of the United Arab Emirates (CBUAE) has recently launched its “Zero Bureaucracy” initiative in the financial sector, in alignment with the UAE Government’s broader program “Zero Government Bureaucracy”. This initiative aims to simplify government procedures, reduce burdens on businesses and individuals, and enhance operational efficiency. The CBUAE, in collaboration with the Prime Minister’s Office, organized a workshop to discuss the implementation of the Zero Government Bureaucracy program. The goal is to eliminate 2,000 government procedures, decrease procedure times by at least 50%, and remove unnecessary processes and requirements.
During the workshop, various initiatives and plans were discussed to eliminate bureaucracy by simplifying procedures, expediting service delivery, and innovating new patterns of government procedures. The objective is to improve the quality of services provided to customers and partners in the financial sector. The CBUAE Youth Council and Happiness Committee are also actively engaging in dialogue to share viable ideas and proposals with the internal committee overseeing the Zero Government Bureaucracy program. This reflects the commitment of the CBUAE to its vision and organizational values.
Additionally, the CBUAE issued a notice to all licensed financial institutions encouraging their participation in the program by taking steps to simplify and expedite procedures related to services provided to customers and the business sector in the financial industry. Khaled Mohmmed Balama, Governor of the CBUAE, emphasized that the Zero Government Bureaucracy program reflects the leadership’s vision of an integrated, innovative, and forward-looking government ecosystem. The continuous effort to eliminate bureaucracy within the CBUAE aims to drive development and success in the financial sector and support the “We the UAE 2031” vision of making the UAE government a global forward ecosystem.
In conclusion, the launch of the “Zero Bureaucracy” initiative by the CBUAE is a significant step towards simplifying government procedures and reducing burdens on businesses and individuals. The aim is to improve operational efficiency, enhance service quality, and support the UAE Government’s vision of creating an innovative and forward-looking government ecosystem. Through collaboration with various departments and stakeholders, the CBUAE is committed to driving positive impact for consumers, customers, and businesses in the financial sector. The focus on eliminating unnecessary processes and bureaucracy demonstrates a proactive approach towards fostering development and success in the financial industry.
