Abu Dhabi: The Board of Directors of the Central Bank of the UAE reviewed several reports related to banking sector at a meeting held in Abu Dhabi on Sunday.
One of the reports reviewed was related to banking supervision and the board instructed banks to take necessary measures to protect banking system and promote its strength and stability including regulations and standards related to internal controls, compliance, internal audit at the banks, financial reporting, among other things.
The Board also reviewed a report regarding the development of the national payment systems strategy in the UAE as well as the central bank’s first quarter report for 2018.
The first quarter report covers international economic developments, domestic economic developments, financial stability indicators, banking liquidity, monetary reserves management and payment system developments.
The Board also reviewed a presentation regarding the Central Bank of the UAE Dashboard that will allow its management to review the performance of the sector continuously as well as the bank’s internal performance.
Reports related to financial sector master plan (2018-2028) and assessment of transformation programme were also reviewed at the meeting which was attended by Khalid Juma Al Majid, Deputy Chairman, Mubarak Rashed Al Mansouri, the Governor, and Board members Younis Haji Al Khoori, Khalid Mohammad Salem Balama, among others.
