Picture used for illustrative purpose only.
The Board of Directors of the Central Bank of the UAE (CBUAE) held their fifth meeting this year via Video Conference recently. The meeting took place under the chairmanship of Hareb Masood Al Darmaki, Chairman of the Board.
The meeting was attended by Abdulrahman Saleh Al Saleh, Deputy Chairman of the Board and Abdulhamid Saeed 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, and a group of senior CBUAE employees.
The Board reviewed a report on the utilization of the Targeted Economic Support Scheme (TESS) from the allocated Dhs50 billion TESS liquidity facility and its utilization for deferrals of loans requested by customers affected by the consequences of Covid-19 pandemic.
The Board also took note of a report highlighting an overview of the banking system surveillance. The Board instructed the publication of the report on the Central Bank of the UAE website.
The Board has also approved a request from the Ministry of Finance to activate the services of the future system of the e-Dirham “E11” Wallet Scheme and obtaining a Payment Service Provider license.
The Board completed the discussion of the remaining topics listed on its agenda, as well as any other new topics, and took appropriate decisions.
The Central Bank of the UAE and Abu Dhabi Global Market have announced recently that they will collaborate, jointly host, and organise the fourth annual FinTech Abu Dhabi Festival, FinTech Abu Dhabi, which will be held from 24th - 26th November, 2020.
The UAE Central Bank has announced that gross bank assets, including bankers’ acceptances, rose by 0.6 per cent, climbing from Dhs2958.6 billion at the end of June 2019 to Dhs2975.8 billion at the end of July 2019.
The UAE Central Bank has announced that gross bank assets, including bankers’ acceptances, rose by 0.3 per cent, increasing from Dhs2,975.8 billion at the end of July 2019, to Dhs2,983.4 billion at the end of August 2019.
The total foreign assets of the Central Bank of the UAE (CBUAE), were valued at Dhs405.94 billion in February 2020, according to the latest figures released by the central bank.
Fiat Chrysler and Peugeot SA sealed their long-awaited merger on Saturday to create Stellantis, the world’s fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals Toyota and Volkswagen.
The benchmark KSE-100 index has given a 50 per cent return since March’s crash and experts predict the rally will continue this year (2021).
Customs transactions recorded by Dubai Customs (DC) saw a significant rise of 23 per cent to reach 16 million in 2020, despite the challenging global environment caused by the COVID-19 pandemic.
Pavilions Premiere bookings can be made from Jan.16 at https://expo2020dubai.com/en/pavilions-premiere with each visit costing Dhs25. Visitors are urged to book early as the experience will operate five days per week with limited operating hours...