UAE Central Bank Discusses Operational Plan for 2018

Press release
Published December 13th, 2017 - 09:16 GMT
The UAE Central Bank has held its 8th meeting this week to discuss plans for 2018.
The UAE Central Bank has held its 8th meeting this week to discuss plans for 2018.

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

During the meeting, the Board discussed the Central Bank’s Operational Plan for 2018, HR regulations, policies, procedures and transformation. The Board also discussed and approved the Bank’s budget for the financial year 2018.

It also reviewed Central Bank’s Q3 Report for the year 2017, presented by the Research and Statistics Department, which covered international and domestic economic developments, financial stability indicators, banking liquidity, monetary reserves management, and payment systems developments.

The attendees also discussed some topics presented by Financial Stability Department regarding preparing for and managing financial crises and the results of local banks’ stress tests.

The Board reviewed applications submitted by banks and other financial institutions operating in the UAE, and approved the applications that fulfilled the conditions as per applicable law and regulations for each individual activity.

It also reviewed the following reports; Internal Audit Department’s quarterly report (September 2017) and external auditor’s report on the Central Bank’s financial statements as at 30 September 2017.

The meeting was attended by Khalid Juma Al Majid, Deputy Chairman, Mubarak Rashed Al Mansoori, the Governor, and Board members; Younis Haji Al Khoori, Khalid Mohammed Salem Balama, Khalid Ahmad Al Tayer, as well as by Mohamad Ali bin Zayed Al Falasi, Deputy Governor, Saif Hadef Al Shamsi, Assistant Governor and a group of senior Central Bank staff.

Source: Emirates News Agency

Background Information

Central Bank of United Arab Emirates

The Central Bank of the UAE (CBUAE) promotes financial and monetary stability, efficiency and resilience in the financial system, and the protection of consumers through effective supervision that supports economic growth for the benefit of the UAE and its people.

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