Arab Today, arab today central bank of the uae holds second meeting for 2016
Last Updated : GMT 21:17:01
Arab Today, arab today
Arab Today, arab today

Central Bank of the UAE holds second meeting for 2016

Arab Today, arab today

Arab Today, arab today Central Bank of the UAE holds second meeting for 2016

Central Bank of the UAE
Abu Dhabi - WAM

The Board of Directors of the Central Bank of the UAE held its 2nd meeting for 2016 on Sunday, 10 April 2016, to reviewed a memorandum regarding formation of the Higher Sharia Authority, along with draft of proposed charter of the authority, which will be established over the coming period, and shall comprise Sharia scholars, legal and banking experts. The authority shall lay down rules, criteria and general principles for Sharia compliant financial and banking activities, and shall also undertake oversight and supervision of internal Sharia control committees at licensed banks and other financial institutions which carry on all or part of their activities in accordance with Islamic Sharia.

Held at the Central Bank – Abu Dhabi, under the chairmanship of Khalifa Mohammed Al Kindi, Chairman of the Board, and attended by other members of the board and a group of senior Central Bank staff, the meeting also reviewed a presentation on implementation of the human resources strategy, procedures and regulations and the Central Bank’s organizational structure. The Board instructed expedition of execution of the proposed initiatives as per established plan. The Board then reviewed a presentation by the Monetary Operations & Reserves Management Department, on Emirates Inter-bank Offer Rate (EIBOR) and instructed necessary action be taken in this regard.

The Board also reviewed Central Bank’s Annual Report for the year 2015, presented by the Research & Statistics Department. The report covered international economic developments, domestic economic development, financial stability indicators, banking liquidity, monetary reserves management, and payment systems developments, in addition to Central Bank’s policy priorities in 2015. After taking note of the report, the board instructed publication of the report on the Central Bank’s Website.

The Board also reviewed a presentation, submitted by the Digital Payments Project team; regarding latest developments and a follow-up of what has been achieved in relation to preparation and issuance of rules and procedures for stored-value, electronic payment systems, and payment, clearing and settlement in the UAE. The board instructed to proceed with the necessary steps.

On the other hand the Board reviewed applications submitted by banks & other financial institutions operating in the UAE for the expansion of their activities and opening new branches. The Board approved the applications that fulfilled the conditions as per applicable law and regulations concerning each individual activity.

The board also reviewed some reports presented by the Banking Supervision Department, showing status of compliance of banks and other financial institutions with Central Bank’s regulatory rules. The board instructed necessary actions be taken to ensure protection of the banking sector and enhance its soundness and stability.

The board reviewed an issue presented by the Financial Control Division, regarding the financial and accounting system, and provided its remarks and comments thereon.

The Board also reviewed the following reports: - Internal Audit Department’s Quarterly Report (Dec. 2015).

- The External Auditor’s Report on the Financial Statements as at 31 December 2015.

The Board then endorsed the Central Bank’s Audited Annual Accounts for the financial year ending on 31/12/2015.

The board also reviewed issues presented by the Internal Audit Department regarding: - Appointment of an External Auditor for Central Bank’s accounts for the financial year 2016.

- The revised Internal Audit Manual.

The board took appropriate decisions in respect of these topics.

The Board then discussed a memorandum submitted by the Banking Operations Department regarding re-minting new quantities of currency coins of denominations 50 fills, 25 fills and 10 fills, using multi-ply technology.

The board also reviewed a report on latest developments in implementation of the Central Bank’s IT Strategy Program and instructed commencement of execution of the program and completion thereof according to established schedule.

The Board then reviewed developments of the Disaster Recovery Center and provided feedback and remarks.

The Board also reviewed some issues presented by the Human Resources Division, regarding development of some internal regulations, and took appropriate decisions in respect thereof.

The Board completed the discussion of the remaining topics listed on its agenda, as well as other topics and took appropriate decisions in this regard.

Source:WAM

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today central bank of the uae holds second meeting for 2016 Arab Today, arab today central bank of the uae holds second meeting for 2016

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today central bank of the uae holds second meeting for 2016 Arab Today, arab today central bank of the uae holds second meeting for 2016

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday