Central Bank board discusses federal mint

The Board of Directors of the UAE Central Bank held its 8th meeting for the year 2011 in Abu Dhabi under the chairmanship of Khalil Mohammed Sharif Foulathi, Chairman.

Attended by Khalid Juma Al Majid, Deputy Chairman of the Board, Sultan bin Nasser Al Suwaidi, the Governor, other board members, the meeting discussed the outcome of meetings of the "Committee for Study of the Establishment of A Currency Notes Printing House in the UAE" with specialised companies, and the latest developments in the said project.

The board reviewed the report of Senior Executive Director of Treasury Department regarding the monetary position.

The board reviewed the report submitted by Senior Executive Director of Banking Supervision and Examination Department regarding the banking indicators, in addition to a proposal for amendment of Monitoring of Large Exposure Limits Regulation.

Furthermore, the board reviewed applications submitted by banks operating in the UAE to expand their businesses and open new branches, and reviewed applications from natural and juridical persons to establish companies/establishments to undertake financial activities and money changing business. The board approved the applications, which fulfill the terms as per the law and regulations, as applied to each business activity. The board also reviewed some organisational matters relating to the Central Bank.

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