(MENAFN- Emirates News Agency (WAM))
ABU DHABI, 17th June, 2019 (WAM) -- The Board of Directors of the Central Bank of the UAE, CBUAE, held its fifth meeting for 2019 under the chairmanship of Hareb Masood Al Darmaki, the Chairman of the Board at bank's Head Office in Abu Dhabi.
The meeting reviewed Quarterly Financial System Surveillance Report for the Q1 2019, Macroprudential Stance Report for the Q1 2019 and Report on 2019 top-down stress testing results, presented by the Financial Stability Department. The reports covered developments with respect to the stability of the UAE banking and financial system.
The Board also reviewed Basel III- Pillar 2 Standard on the Internal Capital Adequacy Assessment Process carried out by banks, along with the Supervisory Review and Evaluation Process carried out by the Central Bank. The Board also reviewed a report on Corporate Governance in Banks Regulation, and approved the regulations.
Applications submitted by banks and other financial institutions operating in the UAE were reviewed and approvals were granted to applications that met their respective requirements.
The Board reviewed CBUAE Financial Statements for the first quarter ended 31st March. It also tackled the Central Bank's First Quarter Report for the year 2019, presented by the Research and Statistics Department.
The report covered international economic developments, domestic economic developments, financial stability indicators, banking liquidity, the monetary aggregates and the Central Bank Balance sheet as well as developments in the interest rate policy and related interest rates compared to international interest rates.
The meeting was attended by Abdulrahman Saleh Al Saleh, Deputy Chairman of the Board, Mubarak Rashed Al Mansoori, the Governor, and Board members including: Younis Haji Al Khoori, Khaled Mohammed Salem Balama, Khalid Ahmad Al Tayer and Ali Mohammed Al Madawi Al Remeithi, Saif Hadef Al Shamsi, Deputy Governor and a group of senior CBUAE staff.
WAM/Esraa Ismail/MOHD AAMIR
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