The Central Bank of the UAE has won the 'Best Risk Management 2026' award at the Central Banking Awards, organized by the British specialist magazine 'Central Banking'. The award is given to central banks that achieve exceptional excellence in adopting systematic global risk management practices. According to a press release issued by the Central Bank today, this award is a culmination of the bank's efforts and recognition of its leading role in advancing operational risk management and the transformative shift from traditional assessment models to a proactive system supported by artificial intelligence technologies. The bank has successfully established a comprehensive risk management vision that ensures full coverage of all stages of the value chain through the strategic integration of AI technologies and a comprehensive governance, risk, and compliance framework. A key milestone in this transformation was the development of an in-house 'Risk Agent' powered by AI, which contributed to reducing the time required for risk identification and decreasing reliance on manual procedures, enabling the proactive monitoring of composite risks in critical operational stages. These innovations have been formally incorporated into the Central Bank's five-year strategy based on the principle of 'Resilience by Design' to cement the maturity of risk management as a fundamental pillar of the bank's work and innovation system. The award's judging committee praised the Central Bank's unified and holistic approach to risk management, describing it as an inspiring model for its peers among central banks worldwide. The committee clarified that while many institutions make incremental improvements, the Central Bank of the UAE has adopted a more transformative and comprehensive approach, embodied by establishing a comprehensive and unified risk vision across the entire institution, which helped achieve tangible results by eliminating process duplication. The official awards ceremony will take place during the 'Central Banking' meetings in London in June 2026. This global recognition reflects the Central Bank of the UAE's commitment to integrating modern technologies with sound methodologies, ensuring a proactive response to evolving and complex threats and enhancing decision-making precision, thereby strengthening the Central Bank's global leadership position in supporting monetary and financial stability. Governor of the Central Bank of the UAE, Khaled Mohamed Balushi, stated that this international achievement reflects the great support from the wise leadership, and also translates the aspirations, directives, and constant follow-up from His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Presidential Court, and Chairman of the Board of Directors of the Central Bank of the UAE, in cementing the bank's status as a global reference for excellence and leadership in financial and supervisory work. He added: 'We have succeeded in building a sophisticated supervisory system that integrates digital innovation with the methodological foundations of risk management. Embedding the pillars of artificial intelligence at the core of our operational risk management has enabled us to enhance our capabilities and transition to proactive supervision in the face of global financial transformations and emerging risks. And at the Central Bank of the UAE, we do not just adopt the highest international standards, but we also strive earnestly to contribute to shaping the future of global supervisory practices, ensuring the sustainability of monetary and financial stability.'
