His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court and Chairman of the Central Bank of the UAE (CBUAE), has chaired the meeting of the CBUAE Board of Directors, which took place at Qasr Al Watan, Abu Dhabi.
The CBUAE Board went over the meeting's agenda and reviewed how well projects and plans were progressing.
The Board deliberated on the projects being developed under the Financial Infrastructure Transformation Programme (FIT programme), which aims to promote innovation and digital transactions and drive the UAE’s digital economy. These include the Central Bank Digital Currency (Digital Dirham), the Jaywan Domestic Card Scheme and the Instant Payments Platform (Aani).
The Board reviewed the latest updates on the implementation of memorandums of understanding signed between CBUAE and other central banks.
The meeting saw the Board approve the issuance of a system for licencing and overseeing stable cryptocurrencies, and a series of policies aimed at supporting the banking and insurance sectors and services related to financial infrastructure. It also reviewed updates on the Central Bank’s plans to enhance Emiratisation and support UAE nationals, as well as the new Emiratisation policies of institutions operating in the banking, financial, and insurance sectors.
At the conclusion of the meeting, His Highness Sheikh Mansour commended the CBUAE Board and the bank's efforts and projects that promote innovation and drive digital transformation and sustainability, as well as the steps aimed at ensuring monetary and financial stability and integrity.
He also called for continuing these efforts to fulfil the Central Bank's objectives and vision to expand the financial sector.
News Source: Emirates News Agency
