A Quote by Abdul Aziz Al Ghurair
Banks are concerned the central bank is imposing too many regulations. If the trend continues, we'll swing to heavy regulation. We need to have balanced regulation to encourage the economy.
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We need sobriety, rationality, and civility in the discussions on the regulation of financial institutions so that the banks can return in a robust manner to their central role in funding the economy.
I would think that to say 'regulations cost jobs' or 'regulations create jobs' is too simple, and we need to look at the regulation.
With less regulation, I think you would see growth come back. Of course, there are situations where you need regulation. Antitrust regulation, for example, is a good idea because you want competition. But beyond that, it gets very difficult.
Well, I like regulation as little as anybody else. It can be intrusive. It can be detailed. It can be bureaucratic. It can be unevenly administered. It can be unfair. But most regulations that we have for mutual funds and for banks are regulations that we earned. We did something wrong and we're paying a price for it.
In the U.A.E. we were the least-regulated environment in the region, and over time we are seeing more and more regulation coming in. On the other hand, a central bank can overregulate and choke the economy, and then we will have a dead banking industry.
We have parts of our system which are overwhelmed by regulation. It wasn't the absence of regulation that was the problem. It was despite the presence of regulation you got huge risks built up.
Regulation has gone astray. . . . Either because they have become captives of regulated industries or captains of outmoded administrative agencies, regulators all too often encourage or approve unreasonably high prices, inadequate service, and anticompetitive behavior. The cost of this regulation is always passed on to the consumer. And that cost is astronomical.
I can't remember one [example of regulation] that's good. Regulation of transport, regulation of agriculture - agriculture is a, zoning is z. You know, you go from a to z, they are all bad. There were so many studies, and the result was quite universal: The effects were bad.
In a mature economy like India's, which is becoming modern and a financially-oriented economy, an independent central bank, responsible central bank, is really central to success.
If we speak about fundamental things, regulation of the rate is actually the function of the main regulator, namely the function of the Central Bank. And it should think of how the economy and industry react, but also of its fundamental tasks in order to ensure the stability of the rate.
As a conservative myself that, you know, generally I would have a point of view that less regulation is better than more regulation, but less regulation shouldn't supersede a tax on the fundamentally important institutions that sustain a democratic republic.
Yet the basic fact remains: every regulation represents a restriction of liberty, every regulation has a cost. That is why, like marriage (in the Prayer Book's words), regulation should not "be enterprised, nor taken in hand, unadvisedly, lightly, or wantonly"
I want regulation. I want to protect our environment. I want regulations for safety. I want all of the regulations that we need, and I want them to be so strong and so tough. But we don't need 75 percent of the repetitive, horrible regulations that hurt companies, hurt jobs, make us noncompetitive overseas with other companies from other countries.
We will reverse course on the heavy hand of regulation, discarding Dodd-Frank and any other regulations that advance a political agenda at the expense of jobs and investment on Main Street.
I think (fantasy football) has become something that needs to be looked at in terms of regulation. Effectively, it's day trading without any regulation at all. When you have insider information, which has apparently been the case, when you have people who use that information, use big data to try and take advantage of it, there has to be some regulation. If they can't regulate themselves, then the NFL needs to look at moving away from them a little bit, and there should be some regulation.
We need financial regulation that allows businesses and the banks they use to have access to the tools that help keep prices of consumer goods - like groceries and home heating oil - steady, while ensuring that the taxpayers are never again on the hook for the types of wild bets that helped crash the economy in 2008.
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