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UAE central bank hold latest meeting

The Board of Directors of the Central Bank of the UAE (CBUAE), held their fourth meeting for 2019.

The meeting hosted at CBUAE Head Office, took place under the chairmanship of Hareb Masood Al Darmaki, the Chairman of the Board, and attended by Abdulrahman Saleh Al Saleh, Deputy Chairman of the Board, Mubarak Rashed Al Mansoori, the Governor, and other members.

The Board reviewed reports on some of the regulations related to Basel III and took appropriate decisions related to Leverage Ratio, Counterparty Credit Risk, Credit Risk, Credit Value Adjustment, Securitisation, Equity Investment in Funds, Market Risk, Operational Risk, Pillar 3, Credit Risk, Pillar 2 and solo capital requirements.

The Board also reviewed several memos received from Banking Supervision Department including processes related to Anti- Money Laundering and Combating of the Financing of Terrorism and Illicit Organisations, Registration of Licensed Financial Institutions and latest updates related to real estate financing.

Applications submitted by banks and other financial institutions operating in the UAE were reviewed and approvals were granted to applications that met their respective requirements.

CBUAE’s 2018 Financial Stability Report was presented by the Financial Stability Department. The report covered macro-financial developments, financial and banking system assessment, regulatory developments as well as an assessment of payment systems, capital markets and the insurance sector.

The Board reviewed Central Bank’s Annual Report for the year 2018, presented by the Research & Statistics Department. The report covered domestic and international economic developments, financial stability indicators, banking liquidity, monetary reserves management, and payment systems developments, in addition to Central Bank’s policy priorities in 2018.

The CBUAE 2018 Financial Stability report and Annual Report will be available on the CBUAE website as instructed by the board.

Source: WAM

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One comment

  1. Angel NicGillicuddy

    The simplest way to combat financing
    of terrorism and
    To simplify the problem
    Of money laundering
    Is to place Demurrage on money,
    In particular The US dollar,
    Since it is the most powerful and plentiful
    Of all the money hidden and feeding
    The Dark Forces.
    This does NOT mean that the present US administration has anything to do with all that money however.
    Placing Demurrage on The US dollar would also
    help to assure reciprocal trade.
    As soon as this means of combating
    The Dark Forces;
    placing Demurrage on money,
    begins to be discussed, again,
    We will SEE much better
    How money functions.
    Yours Truly,
    Angel NicGillicuddy ???
    and India

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