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 7113 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
Meet the FOREO family as they share their top tips for radiant skin during the ...
LOOTAH Perfumes launches four new springtime fragrances for Him and Her
Amani Glam Collection
Three Trends to Try with Palladio Beauty
LOOTAH Perfumes launches fragrant oud ‘Ambwood'
Experience 5 Seconds to New Skin with OXYGEN-PEEL from Filorga
Lip Stick to my Heart - GOSH New Collections
bebe Launches First Ever Ramadan Capsule Collection
Carrera UAE Exhibition
Lexus sweeps two podium finishes at round two of 2018 AUTOBACS SUPER GT 500 series
Max Fashion Reveals Latest 2018 Fashion Trends at Exclusive Trunk Show
Care for your baby's sensitive skin with Corine de Farme
Ramadan-Inspired Sandro SS18 Pieces
New Master Maserati Driving Courses for 2018
Spinneys Puts Local Food Heroes in the Spotlight this Ramadan
Toyota Rush makes a new beginning in the UAE
‘Tree of Life' Continues to Change Lives at Arabian Center, This Ramadan
Ethereum - Second In A Series Of Exclusive Cryptocurrency Watches Launched
Enhance your natural beauty while staying active with The Body Shop's Sportify M...
Beautiful Kaftans for Ramadan from GUESS
RAK Diabetes Center in Jumeirah offering Free Lifestyle wellness checks and Diet...
Global Light and Power Celebrates 10 Years with the Opening of their New Showroo...
Mads Mikkelsen Spotted on Red Carpet at Cannes Wearing Ulysse Nardin Masterpiece
Get Voluminous Eyelashes and Eyebrows with Rodial's Lash and Brow Booster Serum
Dubai Holy Quran Radio launches new special programmes for Ramadan
Pottery Barn Kids Launches Baby Registry Service to Welcome Newborns
HydroPeptide Launches Solar Defense Products in UAE
Diabetes & Ramadan (DAR) Alliance and Sanofi introduce new integrated digital hu...
Make Ramadan Better With the Gift of Sharing
Marchon Eyewear New Collections
Aru Impressed with Team Spirit as Italian Champion Secures Top Ten Finish
The Balmain de Balmain II Mini is a true win-win
Ikea Yas Island Recognised as One of the Brand's Best Stores in the World
Facebook Launches Youth Portal, a Central Place for Teens
Hour Choice Presents Coach Perry Collections – Ramadan Exclusive
Celebrate The Holy Month Of Ramadan With The Night Picnic At Tub Of Butter
Karl Lagerfeld Celebrates Fall / Winter 2018 Collection
Stay connected with your loved ones this Ramadan season with the Nokia smartphones
Breitling's Navitimer 8 Collection Arrives in The Middle East
Charlotte Tilbury, the World's #1 Celebrity Makeup Artist, Announces the Opening...
CND™ Boho Spirit: The Collection Summer 2018 Shades
Global Rollout of LGG7 Thinq Gets Underway
LG G7 Thinq Offers Deep AI Integration for Maximum User Convenience
Google launches new feature on Search to mark Ramadan
Do Explore More with Pandora
Elvis Presley's OMEGA Sells for a World Record CHF 1,500,000 at Auction
Celebrate Father's Day in 'Swiss Style' with Raymond Weil.
Etihad Airways Introduces Ai Robot Sophia to Abu Dhabi
Caudalie The Cleansing Collection
Pick what suits you from essence Spring/Summer 2018 nail polish collection