UAE may give Central Bank role in setting monetary policy

Authorities in the UAE are discussing changes to the country’s banking law which would give the country’s Central Bank a role in determining monetary policy, the Central Bank governor told Reuters on Monday.

The Government currently takes most decisions in the UAE.

Mubarak Al Mansouri also said in emailed comments that he expected UAE credit growth to remain robust and that there was excess liquidity in the country’s banking system.

More to follow.

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