Abu dhabi: His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Board of Directors of Central Bank of the United Arab Emirates (CBUAE), chaired the CBUAE board meeting at Qasr Al Watan in Abu Dhabi. The meeting was attended by both Vice Chairmen, Abdulrahman Al Saleh and Jassem Mohammed Bu Ataba Al Zaabi, as well as the Governor of the Central Bank, Khaled Mohamed Balama, alongside board members and assistant governors.
According to Emirates News Agency, Sheikh Mansour opened the meeting by welcoming the attendees and acknowledging the achievements of CBUAE during 2025, highlighting its critical role in the UAE's financial sector development and its status as a global financial hub. He emphasized the Central Bank's progress aligned with the leadership's directives, focusing on financial stability, system efficiency, digital transformation, and creating a secure financial environment to enhance the national economy's competitiveness.
The meeting reviewed the agenda, 2025 achievements, and transformational projects, such as the International Central Securities Depository and Real Time Gross Settlement System. The Board approved the estimated budget for 2026 and discussed the 'Ithraa' Emiratisation Programme, achieving 95 percent of its targets by recruiting 9,754 UAE Nationals.
They also discussed joining several central banks to the 'Jisr' platform for CBDCs, interlinking with the UAE's Instant Payment Interface, and launching the 'Jaywan' domestic card scheme to facilitate cross-border payments and reduce transaction costs. This aligns with CBUAE's strategy to expand payment systems by 2026, enhancing the UAE's role in global financial connectivity.
Furthermore, the Board reviewed plans for regulatory and legislative developments in banking and insurance, approving three new regulations to enhance consumer protection and market efficiency. They also discussed financial infrastructure transformation, governance, Emiratisation, international cooperation, and subsidiary plans, supporting the next phase and strengthening the financial system.