His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, chaired the remote meeting today, the seventh meeting of the Board of Directors of the Central Bank this year, in the presence of the members of the Council.
His Highness conveyed to the attendees, at the beginning of the meeting, the rational leadership's keenness and follow-up on the work of the Council, valuing his highness the important accomplishments of the Central Bank to develop the banking and financial sector and ensuring its stability in the state.
His Highness indicated that the current stage is pivotal in the path of the central bank, as it will work to support the monetary and financial stability of the state, in a way that contributes to supporting the economy, developing gross domestic product, combating inflation, and raising foreign currency reserves, stressing his highness on setting policies, systems and mechanisms that keep pace with the developments of the sector Banking and finance globally.
His Highness Sheikh Mansour bin Zayed Al Nahyan said that the coming period will witness the full support of the Council for the management of the Central Bank, with the aim of adopting the latest technological and digital technologies, to conduct the work with the necessary speed and the required efficiency, stressing that the Central Bank, with its elite distinguished competencies, and through the procedures and policies that It will be approved, capable of becoming one of the best central banks regionally and globally in the next five years.
The Central Bank intends to enhance its cooperation and consultation with all concerned authorities in the country to issue regulations, systems and policies that are in line with the guidance of good leadership, to achieve economic growth and desired monetary stability, and to provide full support to banks, while providing the best financial solutions for institutions, companies and individuals.
Central Bank Governor Abdel Hamid Mohamed Saeed said that the presidency of His Highness Sheikh Mansour bin Zayed Al Nahyan, for the Board of Directors of the Central Bank, represents a great and continuous support in view of his distinguished vision, outlook and extensive know-how and experience.
He stressed that His Highness’s directives to the members of the Board and the Executive Management of the Central Bank included accelerating efforts to digitize the economy, and providing digital financial services through developing policies, procedures, and legislative and regulatory frameworks, especially with regard to digitally adding customers to the financial sector, digital identity, enhancing electronic safety and assessing operational risks, Besides setting the framework for open banking operations and their applications.
The meeting touched on the importance of focusing on the issues of modern financial technologies, most notably the digital currencies of central banks, improving the effectiveness of financial infrastructure systems, and facilitating the adoption of technical solutions and innovations that enhance the financing of small and medium enterprises, as the growing need for such solutions emerged during the "Covid 19" pandemic. .
His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the State, issued a decree restructuring the Board of Directors of the Central Bank headed by His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and the membership of each of Abdul Rahman Saleh Al Saleh, Vice-Chairman of the Council, and Abdul Hamid Muhammad Saeed, Governor The central bank, Younis Haji al-Khury, Khalid Muhammad Salim al-Ama, Khalid Ahmed Hamid al-Tayer, and Dr. Ali Muhammad Bakhit al-Rumaithi.