UAE Central Bank holds 8th meeting for 2016

ABU DHABI, — The Board of Directors of the UAE Central Bank has held its 8th meeting for 2016 under the chairmanship of Khalifa Mohammed Al Kindi, Chairman of the Board.

The board reviewed a presentation on the Financial Sector Blueprint and the Transformation programme, designed to help the bank achieve its objectives, making appropriate decisions in this matter.

The meeting covered the Central Bank’s Q2 Report for 2016, presented by the Research and Statistics Department. The report reviewed international economic developments, domestic economic developments, financial stability indicators, banking liquidity, monetary reserves management and payment systems developments.

The board also reviewed a report from the Monetary and Reserve Management Department on the business conditions survey along with discussing applications submitted by banks and other financial institutions operating in the UAE for the expansion of their activities and opening new branches.

The meeting was attended by Khalid Juma Al Majid, Deputy Chairman, Mubarak Rashed Al Mansoori, Central Bank Governor, and Board members Younis Haji Al Khoori, Khalid Mohammad Salem Al Balama, Khalid Ahmad Al Tayer, Hamad Mubarak Buamim, along with Mohamad Ali bin Zayed Al Falasi, Deputy Governor, Saeed Abdullah Al Hamiz, Assistant Governor for Banking Supervision, and a group of senior Central Bank staff.

Source: Emirates News Agency