Mansour bin Zayed praises efforts to maintain financial stability in the banking sectorقطاع
Approval of the implementation of the new organizational structure of the “Central”
Mansour bin Zayed while presiding over the meeting of the Board of Directors of the Central Bank.
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His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the Board of Directors of the Emirates Central Bank, chaired yesterday the third meeting of the Board of Directors, at Qasr Al Watan in Abu Dhabi.
The Central Bank's board of directors reviewed the topics on its agenda, and approved the implementation of the bank's new organizational structure, which is flexible and enables the Central Bank to keep pace with developments in the financial services sector.
As part of the national strategy for payment systems, the council approved the selection and appointment of a consortium of companies, to be the provider of instant payment platform solutions, and responsible for the implementation of the second phase of the project of the national strategy for payment systems.
The Board also approved the proposed enforcement measures against financial institutions that violate the instructions and regulations of the Central Bank.
It discussed the proposed amendments to the draft system for applying financial penalties for violations of strict obligations, and agreed to adopt the system with the proposed amendments.
At the end of the meeting, His Highness Sheikh Mansour bin Zayed Al Nahyan thanked the senior and executive departments of the Central Bank for their efforts in maintaining financial stability in the banking sector, and their continuous work in facing the repercussions of the “Covid-19” pandemic, and ensuring that the monetary and financial system in the country is not affected Directing His Highness to continue the tireless work for the growth of the banking sector.
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