Prudential Returns Solutions in the UAE - Waystone

      Prudential Returns Solutions in the UAE

      Stay on top of the numbers you need to know with our UAE Prudential Returns support services.

      Many firms struggle with the completion of their prudential returns because they often need input from a number of stakeholders within the firm. Historically, returns have been predominantly focused on financial information but increasingly, regulators require information to be provided on the firm’s products, client types, jurisdictions etc. Problems may also arise where legacy systems are not nimble enough to provide the information required to be included in the returns.

      Prudential returns are usually submitted more frequently than other regulatory returns and consequently provide the regulator with more up-to-date information. Where discrepancies or inconsistencies arise, the regulator may be concerned that the firm does not understand the requirements of the rules and this could lead to a review of the firm’s systems and controls, which may not be limited to the financial records.

      Our prudential returns services

      Our DIFC & ADGM Compliance advisory team provides the following services to organizations who need to file prudential returns:

      • training on the specific UAE prudential rules and regulatory reporting requirements that apply to your firm
      • providing guidance and interpretation on specific aspects of the rules and regulations
      • seeking, where relevant, waivers and modifications of applicable rules and regulations
      • assisting with the completion of the prudential returns on an ongoing basis
      • performing an independent review of annual and quarterly returns prior to submission to the regulator.

      Why choose Waystone Compliance Solutions?

      We have assisted firms in the preparation of regulatory returns for over 30 years. Our team includes several UAE compliance consultants with financial expertise and a detailed understanding of your regulator’s prudential requirements.

      Prudential Returns FAQs

      What are prudential returns? image/svg+xml Atoms / Icons / plusExpand

      Prudential returns are financial reports are used to assess an institution’s compliance with regulatory requirements and provide regulators with information on the financial health and stability of a financial institution.

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      Who is required to submit prudential returns in the UAE? image/svg+xml Atoms / Icons / plusExpand

      The UAE requires that all banks, finance companies, investment companies, and other financial institutions licensed by the Central Bank of the UAE (CBUAE) to submit prudential returns.

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      How often are prudential returns required to be submitted in the UAE? image/svg+xml Atoms / Icons / plusExpand

      The frequency varies depending on the type of report. Some reports are required monthly while others may be required quarterly.

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