Central Bank discusses criteria for exchange activities licensing

The Board of Directors of the UAE Central Bank held its 6th meeting for 2017 on Wednesday at its HQ in Abu Dhabi, under the chairmanship of Khalifa Mohammed Al Kindi, Chairman of the Board of the UAE Central Bank.

The Board reviewed applications submitted by banks and other financial institutions operating in the UAE and approved the applications that fulfilled the conditions as per applicable laws and regulations for each individual activity.

The meeting discussed the criteria for exchange activities licensing and control system and took necessary decisions in this regard, in preparation for sending those decisions to exchange houses operating in U.A.E for implementation.

The Board also reviewed other topics presented by different CB Departments, including the Monetary and Reserve Management Department, Administrative Affairs division, and Human Resources, and took necessary decisions.

The meeting was attended by Khalid Juma Al Majid, Deputy Chairman, Mubarak Rashed Al Mansouri, Governor, and Board members: Younis Haji Al Khoori; Khalid Ahmad Al Tayer; Hamad Mubarak Buamim; Mohamad Ali Bin Zayed Al Falasi, Deputy Governor; Saif Hadef Al Shamsi, Assistant Governor and a group of senior Central Bank staff.