GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share
Dubai, UAE, March 05, 2018:  The Board of Directors of the Central Bank of the UAE held its 2nd meeting for 2018 at 9:30am on Sunday, 4th March 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 Central Bank's Annual Report for the year 2017, presented by the Research & Statistics Department. The report covered international economic developments, domestic economic developments, financial stability indicators, banking liquidity, monetary reserves management, and payment systems developments, in addition to Central Bank's policy priorities in 2017.
 
The board instructed publication of the report on the Central Bank's Website.
 
The Board followed-up on the implementation of Transformation Phase III in the Central Bank, and took necessary decisions for achieving institutional transformation that is in line with highest international organizational levels. 
 
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. Some of the suggestions included:
  1. Issuing Basel III Capital Issuance Standard.
  2. Decreasing the activity of some currency exchange companies because they do not comply with Central Bank regulations.
The Banking Supervision Department also submitted a report on approvals for banks and financial institutions according to the delegation of authority for Q3 and Q4 of 2017. The Board reviewed the report and clarified what has been implemented by the Department in this regard.
 
A team from Banking Supervision Department also presented:
 
Issuance of IFRS 9 Guidance  Note
 
The Board discussed all the details related to the Issuance of IFRS 9 Guidance Note and took a decision regarding its issuance.
 
The Board also reviewed the following topics relating to the Department of Banking Operations and Payment Systems:
  1. The foreign exchange reserves at the Central Bank. 
  2. The Central Bank's stock of coins, the Board was notified of the movement of withdrawals and deposits of the currency in the country during 2017.
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. 



Posted by : GoDubai Editorial Team
Viewed 13139 times
Posted on : Monday, March 5, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Mashreq to participate in Careers UAE for the 18th consecutive year
Next Story : Ithmaar Bank reports 2017 profits
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Childrenswear That Speaks With a Conscience
Versace – Spring/Summer 2019 Collection
Dubai Jewellers Come Together to Celebrate UAE Mothers
Put your best skin forward for Spring/Summer 19' with Kocostar's Camouflage range
The Amphis Ritual
Bentley Centenary Watch Celebrates a Proud Partnership
GROHE Shapes the Future of Water with a record number of innovations at ISH 2019
UL and Saudi Telecom Company announce plans to establish a Center of Excellence ...
Pomsies launch six new Fabulous Friends!
Al-Futtaim Toyota and UAE Government Authorities confiscate 453,456 counterfeit ...
Now United to Perform at World Games' Opening Ceremony Pre-Show
Time to Honour Our Moms with the Best from HONOR: Mother's Day Gift Guide
The Perfect Gift for Mother's Day
Al-Futtaim Honda launches the all-new Honda HR-V
Salvatore Ferragamo Timepieces - Spring/Summer 2019 Collection
Tonda 1950 Stone-set range
Malabar Gold & Diamonds awarded by ‘The Health Education and Promotion Departmen...
Trade-in Your Old Device for a brand new Galaxy S10
Salvatore Ferragamo Timepieces – Spring/Summer 2019 Collection
New in this month at Home and Soul Dubai
Go on, catch the summer moments
Get Kylie Minogue's Youthful Complexation with The Organic Pharmacy's Rose Diamo...
The Balmain Haute Elegance Oval mirrors the brand's soul
Dubai Modest Fashion Week Celebrates a Successful Return for 2019
Giti Tire Celebrates New Beginnings with Opening of First Middle East Flagship S...
World's most expensive perfume ‘SHUMUKH' launched at The Dubai Mall as an exquis...
V-URBAN Versace – Spring/Summer 2019 Collection
Hormann introduces energy saving LPU 67 thermo garage doors for homes
The UAE's Leading Inspirational Home Brand Re-opens in Marina Mall, Abu Dhabi
Ericsson and UNESCO launch new global AI skill development initiative for youth
Desigual ‘Not the Same' Since 1984
LG's Smart Kitchen Appliances Help Families Eat Healthy, Stay Fit and Waste Less
Major Thai paper brand eyes new markets for unique product range at Paperworld M...
Tukish Airlines is moving to its new home, “The Great Move” begins
Visa partners with Starbucks & Hardee's to help promote the use of Apple Pay in ...
Dubai Customs celebrates the Emirati Children's Day
It just keeps getting better: Nokia 3.1 gets a fresh slice of Android 9 Pie
Workspace.ae introduces a range of new office furniture solutions
Speech by HE Abdulrahman bin Mohamed Al Owais, Minister of Health and Prevention...
TREND ALERT: Denim | Marks & Spencer
Sahara Centre Welcomes Customers with the ‘Win Wheels with Meals' Campaign
Etihad Airways Welcomes Ireland's Minister for Transport, Tourism and Sport to I...
Joyalukkas Exchange is now open at Dubai Investment Park 2,UAE
Kronometry 1999-Corum boutique in Paris
All Roads lead to Abu Dhabi for the 26th PIARC World Road Congress 2019
Al Mouj Muscat holds a Fire Evacuation Drill
Dubai Festival City Mall picks the perfect gifts to say thank you to all mums th...
Dubai Cares announces two Education in Emergencies programs in Iraq and Indonesi...
More than 3000 people visit Emirates A380 at first Saudi International Airshow
Continental Technology Powers Jeep® Wrangler's New eTorque Mild-Hybrid System