MEDGULF Group has established an effective Compliance Program that meets all legal and regulatory
Contractual and ethical requirements of the organization in line with the different regulatory bodies in the different countries of operation. Compliance with laws, rules and regulations is a strategic directive from the Board of Directors with a primary mission to protect the reputation and credibility of the Company; protects shareholders and policyholders, and provides safeguards against legal sanctions.
- Compliance of regulatory obligations and MEDGULF policies are applicable to all the employees and third parties.
- MEDGULF will not cooperate or establish business relationship with non-compliant organization.
- Considering the Anti Money Laundering requirement, MEDGULF will not establish any business relationship with sanctioned entities.
- Regulatory Compliance is a responsibility that each employee shares, regardless of their position within MEDGULF.
- Compliance is an independent function that identifies, assesses and provides advice, monitors and reports risks of non-compliance related exposure to legal and administrative penalties, financial loss, or what may undermine the Company’s reputation due to its failure to abide by regulations and controls or sound standards of conduct and professional practice.
- Management has taken measures to ensure that all employees conduct their business activities in an ethical manner, consistent with fiduciary and legal/regulatory obligations, compliance policies and procedures, and the Company’s Code of Conduct. Accordingly, management, in coordination with the Compliance Officer, is overseeing the Company’s compliance program.
The main regulatory authorities in UAE
- Central Bank of the UAE (CBUAE)
- Insurance Authority (IA)
- Dubai Health Authority (DHA)
- Health Authority Abu Dhabi (HAAD)