The Central Bank of the UAE (CBUAE) publishes its 2018 Financial Stability Report (FSR). The FSR provides relevant information, financial data, and stability assessments related to the UAE financial system, reinforcing the confidence and transparency in the banking system across the Emirates.
According to the report, CBUAE noted that the UAE banking system remains sound with sufficient capitalization and liquidity reserves, solid financial performance and high operating efficiency. Additionally, the regulatory stress test demonstrated that the UAE banking system remains resilient to potential macro-financial adverse scenarios considered.
Commenting on the launch of the report, H.E. Mubarak Rashed Al Mansoori, Governor of CBUAE, said: “Looking at our achievements in 2018, an important milestone for us was the issuance of the Decretal Federal Law No. (14) of 2018 regarding the Central Bank & Organisation of Financial Institutions and Activities. The new law defines the contribution to the stability of the financial system as one of the principal objectives of the Central Bank. Also, in 2018, we internally at CBUAE established the Financial Stability Policy Committee (FSPC) which facilitates the thorough fulfillment of this objective.”
Although the macro-financial outlook remains supportive of financial stability, CBUAE reminds members of the financial system to be mindful of potential global and regional macro-financial risks. To ensure the continued resilience of the financial sector, CBUAE continues to further enhance the regulatory and supervisory framework of the banking system.
View the full report at https://www.centralbank.ae/sites/default/files/2019-07/FSR-Report-2018.pdf
[…] The UAE has an ambitious goal to become one of the top 25 in the world for gender equality by 2021, and in 2018, a new rule was created to mandate a female presence on listed companies’ boards of 20 per cent by 2020. The DIFC is committed to the UAE mandate to embrace diversity. […]