be offered to residents for hedging29. it is expected that marketmakers and banks exercise due caution and diligence while interest rate derivatives ( 2019 ) - rupee interest rate derivatives ( reserve bank ) directions, 2019 dated june 26, 2019, fx derivatives ( 2020 ) - risk management and inter - bank dealings – hedging of foreign exchange risk dated april 7, 2020, fx derivatives ( 2024 ) - risk management and inter - bank dealings – hedging of foreign exchange risk dated january 5, 2024, credit derivatives ( 2022 ) – reserve bank of india ( credit derivatives ) directions, 2022 dated february 10, 2022 authorised dealers can offer fx deliverable derivative products to non - residents for hedging their risks and on non - deliverable fx derivatives to non - residents without restrictions in terms of purposes. market makers can offer rupee and foreign currency settled mibor - based oiss to non - residents without restrictions in terms of purposes, subject to a risk limit. risk management and inter - bank dealings - non - deliverable derivative contracts ( nddcs ) dated june 6, 2023 designing and offering such products to customers, keeping in mind the profile of customers. 17. a significant policy initiative has been to permit the banks to access offshore inr markets for ( i ) fx derivatives ( in 2020 ) 30, subject to the presence of an operating ifsc banking unit ( ibu ) ; and ( ii ) for interest rate derivatives ( in 2022 ) 31 with a view to improve the efficiency of price discovery and provide greater opportunities to domestic participants. market - makers have been permitted to deal in such products beyond domestic markets hours. rupee derivatives settled in foreign currency have also been permitted in gift city, both through otc markets and on the exchanges. integrity of markets and market infrastructure 18. ensuring the integrity of financial markets and market infrastructure has underpinned many reform initiatives of the reserve bank. 19. a framework for authorisation of electronic trading platforms was put to place in 201832 to ensure that only entities adhering to a robust set of conditions function in rbi - regulated financial markets. this framework is being updated in view of the recent developments in technology that have accelerated the electronification of financial markets. considering the complaints of cheating and fraud by risk management and inter - bank dealings - participation of banks in offshore non - deliverable rupee derivative markets rupee interest rate derivatives ( reserve bank ) directions – review dated february 10, 202

sultan bin nasser al - suwaidi : uae efforts in encountering money laundering and combating terrorism financing speech by his excellency sultan bin nasser al - suwaidi, governor of the central bank of the united arab emirates and chairman of the national anti - money laundering committee, at the fourth annual conference of the national anti - money laundering committee, ras al khaimah, 20 - 21 december 2006. * * * your highness, sheikh saoud bin saqer al qasimi, crown prince and deputy ruler of ras al khaimah ( may allah protect him ) your highnesses ladies & gentlemen, i would like personally and on behalf of my brothers namlc members, to first express my gratitude to h. h. sheikh saqer bin mohamed al qasimi, member of the higher council of the federal, ruler of rak ( may allah protect him ), for his continuous support to federal institutions, including our committee. i would also like, on behalf of all of you, to thank h. h. sheikh saoud bin saqer al qasimi for his presence and patronage of this conference. your highnesses ladies & gentlemen, i warmly welcome you to namlc fourth annual conference which is held this year in ras al khaimah emirate under the title : “ role of economic development departments, free trade zone authorities and customs departments in implementing laws and regulations regarding encountering money laundering and combating terrorism financing ”. the presence of h. h. sheikh saoud bin saqer al qasimi with us today is considered a support to uae efforts in encountering money laundering and combating terrorism financing and an incentive to develop our procedures and regulations applied with regard to encountering money laundering and combating terrorism financing, in a way that enhances economic development and ensures a suitable environment for investment, characterized by transparency and stability in the country. your highnesses, ladies & gentlemen, the uae confirmed, since its establishment, a strategy to continuously combat all types of crime and to confront criminals through establishing strict laws, approving preventive penalties as well as setting the appropriate legal rules in all areas. and with the obvious increase in money laundering activities and terrorism crimes around the globe, uae set as a priority a clearly defined strategy to encounter such dangers. the strategy comprises the following : 1. joining international and regional efforts in encountering money laundering and combating terrorism financing. this is manifest in joining and authenticating international and regional conventions and initiatives