He directed the Central Bank to adopt the “Fifty Principles” in the financial sector
Mansour bin Zayed: The wise leadership is keen to advance national competencies
Mansour bin Zayed while presiding over the meeting of the Board of Directors of the Central Bank.
H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, stressed the importance of the "fifty projects" package, which reflects the wise leadership's keenness on the future of its children, believing in the necessity of providing them with the best opportunities and enabling them to take their job positions in the labor market, including In line with the vision of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the State, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces .
His Highness said, while presiding over the meeting of the Board of Directors of the Central Bank, yesterday, that "these decisions will positively reflect on attracting citizens to work in the banking sector and integrating them within it, to have a role in strengthening the national economy and achieving a qualitative developmental shift in the UAE, in order to achieve the 10 principles that upon which the state’s vision for the next 50 years is based,” directing His Highness the “Central” to adopt these principles, through the financial and banking sector.
His Highness added that "these projects aim to advance national competencies in development, to contribute to increasing the state's gains, in addition to nurturing a generation of national expertise capable of leading business sectors in the future."
The Council discussed a topic submitted by the Enforcement Department of the Banking and Insurance Supervision Sector, about the measures taken against financial institutions that violate the Central Bank's instructions and regulations, and approved those measures.
The measures included imposing fines against six exchange companies, with a total amount of 17.311 million dirhams. The Council also agreed to cancel the license of “Arab Exchange” and to delete its name from the licensing register.
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