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Central Bank approves expansion of financial activities of banks and financial institutions

posted on 18/10/2016: 1494 views

The Board of Directors of the Central Bank of the UAE has approved applications of banks and other financial institutions operating in the UAE for the expansion of their activities and opening new branches.

The approval was granted as per applicable law and regulations concerning each individual activity at the board's 9th meeting for 2016 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, the Governor, and Board members, Younis Haji Al Khoori, Khalid Mohammad Salem Al Balama, Khalid Ahmad Al Tayer, Hamad Mubarak Buamim, as well as Mohamad Ali Bin Zayed Al Falasi, Deputy Governor, and a group of senior Central Bank staff.

The board reviewed the Monetary Operations and Reserves Management Department's report, which includes the macro-prudential ratios of the banking sector, and liquidity indicators in the banking sector.

The meeting also reviewed a report presented by the Banking Supervision Department on exchange houses operating in the UAE.

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. – Emirates News Agency, WAM -


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