Abu Dhabi, UAE – 06 May 2018:  The Board of Directors of the Central Bank of the UAE held its 3rd meeting for 2018 at 9:30am on Tuesday, 1st May 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman, H.E. Mubarak Rashed Al Mansoori, the Governor, and Board members; Their Excellencies Younis Haji Al Khoori, Khalid  Mohammed  Salem Balama, Khalid Ahmad Al Tayer, Hamad Mubarak Buamim, as well as by Their Excellencies Mohamad Ali Bin Zayed Al Falasi, Deputy Governor, Saif Hadef Al Shamsi, Assistant Governor and a group of senior Central Bank staff. 

 

The Board reviewed the following reports submitted by Monetary and Reserve Management Department:

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

 

The Board also reviewed a number of reports presented by the Banking Supervision Department, and instructed them to take necessary measures to protect banking system and promote its strength and stability including a suggestion for downgrading the activities of some exchange houses for non-compliance with CBUAE requirements. 

 

The Board also reviewed the topic presented by the Department of Banking Operations and Payment Systems regarding reprinting new amounts of some bank notes denominations to cover CBUAE needs of cash for the coming two years 2019-2020.

 

The Board completed the discussion of the remaining topics listed on its agenda, as well as other topics, and took appropriate decisions in this regard.