UAE Cen­tral Bank board holds re­view meet­ing

The Pak Banker - - FRONT PAGE -

The board of di­rec­tors of the Cen­tral Bank of the UAE held its first meet­ing for 2016 last week un­der the chair­man­ship of Khal­ifa Mo­hammed Al Kindi, chair­man of the board.

The meet­ing was at­tended by Khalid Juma Al Ma­jid, deputy chair­man, Mubarak Rashed Al Man­soori, gov­er­nor, and board mem­bers You­nis Haji Al Khoori, Khalid Mo­ham­mad Salem Al Balama, Khalid Ah­mad Al Tayer, Ha­mad Mubarak Buamim.

Deputy gov­er­nor Mo­hamad Ali Bin Zayed Al Falasi, as­sis­tant gov­er­nor for bank­ing su­per­vi­sion Saeed Ab­dul­lah Al Hamiz, as­sis­tant gov­er­nor for mon­e­tary pol­icy and fi­nan­cial sta­bil­ity Saif Hadef Al Shamsi also at­tended.

The board re­viewed lat­est de­vel­op­ments re­lat­ing to the amend­ment of the Cen­tral Bank's law. It also stud­ied a pre­sen­ta­tion by the risk unit re­gard­ing the Cen­tral Bank's ap­proach to coun­ter­party risk and the an­nual re­view of lim­its of such risks.

The board re­viewed ap­pli­ca­tions sub­mit­ted by banks and other fi­nan­cial in­sti­tu­tions op­er­at­ing in the UAE for ex­pan­sion of their ac­tiv­i­ties and open­ing new branches. The board ap­proved ap­pli­ca­tions that ful­filled con­di­tions as per ap­pli­ca­ble law.

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