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Frequently Asked Questions
What is CBI?
CBI stands for the Central Bank of Ireland. It is the regulatory authority responsible for overseeing and regulating financial institutions, including banks, insurance companies, and investment firms, in Ireland.
What does CBI regulation require from financial institutions?
CBI regulation requires financial institutions to obtain appropriate licenses, comply with prudential requirements, conduct risk assessments, implement robust governance and risk management frameworks, and report regularly to the Central Bank.
What are the benefits of dealing with a CBI-regulated financial institution?
Dealing with a CBI-regulated financial institution offers several advantages. It provides a level of confidence in the institution’s credibility, stability, and adherence to regulatory standards. CBI-regulated institutions are required to follow prudential regulations, protect customer funds, and comply with investor protection rules, providing enhanced safeguards for customers.
Does CBI provide investor protection?
Yes, CBI aims to provide investor protection by regulating financial institutions and overseeing the financial sector in Ireland. CBI monitors the activities of regulated entities, investigates potential misconduct or violations, and takes appropriate actions to protect the interests of customers and investors.