Board of Directors of Central Bank holds meeting in Dubai

DUBAI: The Board of Directors of Central Bank of the UAE in its 4th meeting for 2015 discussed a report on the most important issues in the Federal Law No 10 of 1980 regarding the Central Bank, monetary system and organisation of banking that are proposed to be amended and reasons for such amendment.

The board also reviewed the Central Bank’s report concerning financial stability to be issued in June 2015. The report includes the major developments concerning financial and monetary stability in the UAE during 2014.

In addition, the board discussed a report on financial and administrative status of some banks and other financial institutions.

The board reviewed a report on the latest developments regarding the execution phase of ITD Strategy Development Project and the selection of a consultancy firm for managing the project.