Image only for representation
President His Highness Sheikh Khalifa Bin Zayed Al Nahyan has issued a Federal Decree restructuring the Board of Directors of the Central Bank of the UAE, CBUAE, under the chairmanship of Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.
Pursuant to the Decree, the Board of Directors of the CBUAE shall be reconstituted by the following members; Abdulrahman Saleh Al Saleh as the Vice Chairman; Abdulhamid Mohammed Saeed as the Governor; Younis Haji Al Khoori; Khalid Mohammed Salem Balama; Khalid Ahmad Humaid Al Tayer; and Dr. Ali Mohammed Bakheet Al Rumaithi.
Established under the Federal Law No. 10 of 1980 as a public institution, the 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.
The CBUAE’s official mandate includes the following: preparing and implementing monetary policy in line with the National Agenda; exercising the privilege of currency issuance; organising Licensed Financial Activities, establishing the foundations for carrying them out, and determining the standards required for developing and promoting prudential practices; setting up appropriate regulations and standards for protection of customers of Licensed Financial Institutions; monitoring the credit condition in the state, in order to contribute to the achievement of balanced growth in the national economy; managing foreign reserves to maintain, at all times, sufficient foreign currency assets to cover the monetary base; and regulating, developing, overseeing and maintaining soundness of the Financial Infrastructure Systems in the State, including electronic payment systems, digital currency, and stored value facilities.
Commenting on the contribution, Jawaan Awaidha Suhail Al Khaili, Chairman of ADIB, expressed his appreciation on behalf of everyone at ADIB for the efforts made by the Government of the UAE and the Executive Council of Abu Dhabi, and other national bodies and institutions, to address the current situation.
Abu Dhabi’s main stocks index was up 7.23 per cent to 3,915 points on Wednesday, driven by gains at some of the blue chips, specially powerhouse banking stocks, with DFM’s General Index following suit, and closing 6.42 per cent high at 1,823.
First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, is implementing a series of additional financial relief measures to support customers during the current COVID-19
Dr Sultan Bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President, said that ALTÉRRA, the catalytic climate vehicle announced on Friday, reflects the COP Presidency’s Action Agenda and the UAE’s efforts to make climate finance available, accessible and affordable.
India’s Nifty reached historic highs on Friday, with the mid-small cap segment also on the rise, fuelled by faster-than-expected economic growth in the September quarter and increased optimism regarding the global interest rate outlook, Shrey Jain, Founder and CEO SAS Online, said.
Abu Dhabi Future Energy Company – Masdar, the UAE’s clean energy powerhouse, is part of an £11billion investment into the UK’s renewable energy sector and is purchasing a 49 per cent stake in RWE’s 3 gigawatt (GW) Dogger Bank South (DBS) projects - which form one of the world’s largest planned
Scotland kicked off its COP28 activity with a St Andrew’s Day Reception following the first day of the conference. The First Minister, Humza Yousaf, joined 21 Scottish businesses and organisations in the food and beverage sector at the VIP business event, who showcased their products, with support from