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Sheikh Khalifa Bin Zayed Al Nahyan (Photo: WAM)

UAE President 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 with Abdulrahman Saleh Al Saleh as the Vice Chairman, Abdulhamid Mohammed Saeed as the Governor and Younis Haji Al Khoori, Khalid Mohammed Salem Balama, Khalid Ahmad Humaid Al Tayer, and Dr. Ali Mohammed Bakheet Al Rumaithi as members.

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 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.

Also Read: UAE Central Bank Releases Stability Report

Also Read: UAE Central Bank expects recovery from second half of 2020

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