Banking & Finance UAE to axe 2,000 procedures in ‘Zero Bureaucracy’ drive By Megha Merani July 2, 2024, 10:15 AM Pexels/Kampus Production The Zero Bureaucracy initative aims to streamline processes and reduce administrive burdens on companies and individuals The Central Bank of the UAE has announced plans to eliminate at least 2,000 bureaucratic procedures as part of a sweeping “Zero Bureaucracy” plan to enhance efficiency in the country’s financial sector. The change is aimed at reducing administrative burdens on businesses and individuals, according to state news agency Wam. NewsletterGet the Best of AGBI delivered straight to your inbox every week The bank, in collaboration with the prime minister’s office, seeks to cut procedure times by 50 percent and remove unnecessary processes and requirements. It is hosting workshops to engage licensed financial institutions in streamlining and speeding up service delivery processes. UAE releases details of new PPP regime Overseas real estate talent takes on Omani bureaucracy UAE’s budget to remain in surplus in 2024 Khaled Mohammed Balama, governor of the Central Bank, said the bureaucracy initiative will foster a more efficient and innovative financial ecosystem, in line with the UAE’s ambition to be a global leader in government efficiency by 2031.