Media ININ Economy We Trust
24-04-2019 Media in\ Abu Dhabi
The Board of Directors of the Central Bank held its third meeting for the year 2019 at its headquarters in Abu Dhabi, under the chairmanship of Harib Masoud Al Darmaki, Chairman of the Board.
The meeting was attended by Abdulrahman Saleh Al Saleh, Vice Chairman, Mubarak Rashid Al Mansoori, Governor of the Central Bank, and members of the Board of Directors: Younis Haji Al Khouri, Khalid Mohammed Salem Al Boumi, Khaled Al Tayer, Ali Mohammed Al Madawi Al Rumaithi and Mohammed Ali Bin Zayed Al Falasi , Deputy Governor, Saif Hadaf Al Shamsi, Assistant Governor and a group of senior officials of the Central Bank.
The Board was briefed and reported on the implementation of Basel III and International Financial Reporting Standards (IFRS).
He also reviewed other reports on some of the topics of the Banking Control Department, namely the activation of the Emirates e-system for people who are not desirable in their appointment to financial institutions operating in the country.
There was a review of the annual report of the Supreme Authority for the year 2018 from Sheikh Dr. Ahmed Abdel Aziz Al Haddad, Chairman of the Commission, which included an explanation of the meetings of the Commission and its outputs and the objectives and the work plan of the Commission for the years 2018-2022, indicating the regulatory actions and decisions of the Commission, and the legal and judicial standards that have been developed and adopted. Before the Commission, the prudential standards of the Central Bank was reviewed, consultative meetings and participation in local and international conferences and symposium were held.
The Board reviewed the applications submitted by banks and other financial institutions operating in the State and approved the completed applications of the conditions according to the law and regulations in force for each activity.
The Board also reviewed the issues submitted by the Enforcement Department in the Banking Control Department and took the necessary decisions in addition to a presentation by the Internal Audit Department regarding the changes made in the accounting policies in line with the application of the new Central Bank accounting standard, Submitted by Risk Management and made the necessary decisions.
The Council completed and discussed the remaining topics on its agenda and other emerging issues
