ABU DHABI: The Board of Directors of the UAE Central Bank has held its 8th meeting under the chairmanship of Khalifa Mohammed Al Kindi, Chairman of the Board.

During the meeting, the Board discussed the Central Bank’s Operational Plan for 2018, HR regulations, policies, procedures and transformation. The Board also discussed and approved the Bank’s budget for the financial year 2018.

It also reviewed Central Bank’s Q3 Report for the year 2017, presented by the Research and Statistics Department, which covered international and domestic economic developments, financial stability indicators, banking liquidity, monetary reserves management, and payment systems developments.

The attendees also discussed some topics presented by Financial Stability Department regarding preparing for and managing financial crises and the results of local banks’ stress tests.

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 law and regulations for each individual activity.

WAM