UAE Central Banks reviews Q2 report

Mon 03-09-2018 15:07 PM

ABU DHABI, 3rd September, 2018 (WAM) — The Board of Directors of the UAE Central Bank held its seventh meeting for 2018 on Sunday, under the chairmanship of Khalifa Al Kindi, Chairman of the Board.

During the meeting, which was held at the Central Bank’s premises, the board reviewed a memo regarding the Macro Prudential Policy stance report – Q2 2018, and instructed necessary action be taken in respect thereof. They also reviewed a memo regarding Large Exposures- Credit Concentrations and instructed necessary action be taken in respect thereof.

The board also reviewed applications submitted by banks operating in the UAE and approved the applications that fulfilled the conditions as per the law and / or applicable regulations for each individual activity. They also revised the Central Bank’s Q2 Report for the year 2018 covering international economic developments, domestic economic developments, financial stability indicators, banking liquidity, monetary reserves management, and payment systems developments.

The board instructed publication of the report on the Central Bank’s website, and reviewed a memo regarding contributions to the establishment of Gulf Payments Company, and latest developments in the GCC-Real Time Gross Settlement System, RTGS, project and took appropriate decisions in this regard.

They also completed the discussion of the remaining topics listed on its agenda, as well as other topics, and took appropriate decisions.

WAM/Rola Alghoul/Tariq alfaham

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