The Worldwide Financial Fund praises the UAE’s efforts to advertise financial development

The Governor of the Central Financial institution of the Emirates, Khaled Mohammed Balama, spoke to the knowledgeable mission of the Worldwide Financial Fund concerning the developments in monetary and banking situations within the UAE, and the monetary and financial insurance policies adopted by the financial institution in inserting the the implementation of the financial framework for the dirham, sustaining enough liquidity, and growing the protection and effectivity of the monetary sector, in addition to a qualitative transformation within the monetary infrastructure and digitization of native and cross-border cost techniques, at a time when the Fund praised the UAE’s efforts to advertise financial development.

This got here on the assembly held between the 2 sides, inside the framework of the Fund’s annual consultations on the financial and monetary efficiency of the member states.

Al-Amaa confirmed that the efforts made have been really useful and appreciated by the Fund’s mission, particularly by way of strengthening monetary and financial stability, strengthened by a risk-based method and a powerful governance framework, in addition to encouraging innovation and digital transformation within the Fund. monetary sector, and fight monetary crimes, demonstrating the dedication of the Central Financial institution to proceed… Cooperation and trade of experiences with worldwide stakeholders, guaranteeing the protection and integrity of the system international finance.

For his half, the pinnacle of the mission of the Worldwide Financial Fund, Ali Al-Eid, in an announcement, praised the UAE’s efforts to advertise financial development, which is pushed by sturdy exercise in lots of native sectors, giving the into monetary companies, the place banks have carried out. optimistic returns and have giant capital reserves and enough liquidity and good high quality property.

Al-Eid appreciated the initiative to ascertain the Monetary Stability Board within the nation, the efforts made to proceed constructing the monetary house, and the completion of the implementation of the financial framework of the dirham, which is able to contribute to flexibility the monetary system, in addition to the outstanding growth in digitizing the monetary system and strengthening the funds infrastructure, and the progress made in implementing the pre- Nationwide technique and motion plan To fight cash laundering and fight terrorist financing.

Annual conferences

The Governor of the Central Financial institution of the Emirates, Khaled Mohammed Balama, participated within the annual joint conferences of Arab monetary organizations, held in Cairo on Might 22 and 23, 2024.

The Governor of the UAE Central Financial institution attended a workshop to debate the position of macro-fiscal insurance policies in bettering resilience to shocks and selling development.

He stated: “The annual conferences of Arab monetary organizations and the workshops that accompany them are crucial for central banks to trade experiences and insights concerning the actuality of the monetary system within the Arab area and the t -world, to think about the obvious challenges they face. the monetary sector, and a evaluation of strategic instructions that will result in the strengthening of sustainable development and monetary stability.