Abu Dhabi: The Central Bank of the United Arab Emirates (CBUAE) has introduced its “Zero Bureaucracy” initiative in the financial sector, in line with the UAE Government’s broader “Zero Government Bureaucracy” program.
With the goal of streamlining people’s lives and removing needless time, energy, and resource constraints on businesses and individuals, the program seeks to significantly advance government procedures.
A workshop was arranged by the CBUAE and the Prime Minister’s Office to talk about the procedures for carrying out the Zero Government Bureaucracy initiative. The program’s objectives are to do away with at least 2,000 government procedures, cut down on procedure durations by at least half, and get rid of all pointless mandates and processes.
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Participants in the workshop talked about several projects and strategies meant to do away with bureaucracy through streamlining and cutting down on processes, accelerating the provision of services, and creating new, innovative patterns for government operations.
Improving operational effectiveness and the caliber of services offered to partners and clients in the financial industry are the goals of these programs and practices.
In keeping with the organization’s mission and core values, the CBUAE Youth Council and Happiness Committee are also actively promoting communication between staff members and departments so that they can submit workable ideas and proposals to the internal committee in charge of the Zero Government Bureaucracy program.
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In addition, the CBUAE sent out a notice to all licensed financial institutions urging them to take part in the program by attending and debating actions at a workshop that the CBUAE will host. The goal of the workshop is to streamline and expedite processes of services rendered to clients and the business sector in the financial industry.
Khaled Mohammed Balama, Governor of the CBUAE, said that, “The Zero Government Bureaucracy program captures our leadership’s vision of developing an integrated, innovative, and forward-looking government ecosystem. Eliminating bureaucracy within the CBUAE is a continuous process aimed at fostering development and success in the financial sector,”
“This initiative will drive a positive impact for consumers, customers, and businesses alike, and support the achievement of the “We the UAE 2031” vision which aims to make the UAE government a forward ecosystem globally,” Balama added.