The applications according to which banks and other financial institutions, which operate in the UAE, will be able to expand their activities and to open new branches, have finally been approved.
The approval was given during the 9
th meeting for 2016 of the UAE Central Bank’s Board of Directors, attended by Khalid Juma Al Majid, Deputy Chairman, Mubarak Rashed Al Mansoori, the Governor, and Board members, Younis Haji Al Khoori, Khalid Mohammad Salem Al Balama, Khalid Ahmad Al Tayer, Hamad Mubarak Buamim, as well as Mohamad Ali Bin Zayed Al Falasi, Deputy Governor, and a group of senior Central Bank staff.
The Board specifically examined the Monetary Operations and the report of Reserves Management Department relating to the macro-prudential ratios of the banking sector as well as to liquidity indicators in the same sector. At the same meeting the Board also examined Banking Supervision Department’s report on exchange houses which operate in the UAE and made the appropriate decisions.