Suwaidi proposes new rule

Central Bank Governor Sultan bin Nasser Al Suwaidi proposed a plan to approve annual accounts of banks.

He made this suggestion at the Board of Directors second meeting on Sunday under the chairmanship of Khalil Mohammed Sharif Foulathi, Chairman of the Board, and attended by Dr Omar Mohammed Ahmed bin Sulaiman, Deputy Chairman.

The board also approved minutes of the previous meeting as well as previous decisions.

It reviewed a report regarding the position of banks operating in the country. Al Suwaidi made a presentation with regard to the impact of the global financial crisis on banks and UAE economy, including the appropriate arrangements. He discussed the impact of the global crisis on the UAE.