Dubai, UAE, July 23, 2018: The Board of Directors of the Central Bank of the UAE held its 6th meeting for 2018 at 9:00am on Sunday, 22nd July 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalid Juma Al Majid, Deputy Chairman of the Board. The meeting was attended by 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, 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 a memo regarding CBUAE Governance and some Committees’ Terms of Reference & Secretariats, Delegation of Authority Matrix for Business Units and instructed to take the necessary action.
The Board also reviewed a memo regarding Risk Based Supervision (RBS), and instructed to finalise the project and circulate it to the Banks.
The Board reviewed memos regarding Banking Supervision related to financial institutions operating in the UAE, and instructed to take the necessary action.
The Board also reviewed applications submitted by banks 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 completed the discussion of the remaining topics listed on its agenda, as well as other topics, and took appropriate decisions.