Central Bank of the U.A.E.

The Central Bank of the United Arab Emirates (CBUAE) is a public entity established in 1980.It plays a crucial role in the development of the financial and monetary system of the United Arab Emirates.

Through providing regulatory frameworks and adequate financial supervision, the CBUAE protects the interests of consumers and contributes to sustainable economic growth.

Vision and Mission

The CBUAE has a bold vision at the top of the Central Bank's priorities:

To be one of the best central banks in the world, with a focus on promoting monetary and financial stability and enhancing the overall competitiveness of the UAE.

To fulfill our vision, the CBUAE has a mission set to do the following:

• Facilitate monetary management and financial stability

• Promote consumer protection through adequate supervision

• Strengthen financial market infrastructure and the adoption of innovative digital technologies

• Ensure prudent management of the UAE's foreign currency reserves to provide stability in the long term.

The Bank aims to foster an innovative, safe, and inclusive financial environment that supports the UAE's economic aspirations.

Strategic Priorities

To implement the long-term economic vision for the UAE, the CBUAE has prioritised a small number of strategic objectives:

• Support the diversification and growth of the financial sector to respond to a constantly changing economy

• Establish a robust financial market infrastructure to support innovation and digital transformation

• Increase confidence in the UAE's financial services sector and investor trust in the regulated sector

• Set the foundations for developing the role of insurance to provide comprehensive protection for individuals, businesses, and the economy.

By working towards the objectives, the CBUAE helps keep the UAE competitive while responding to technological advancements and changes in the international financial landscape.

Core Responsibilities and Functions

The CBUAE carries out a wide range of responsibilities, including policy-making, regulation, and supervision, to ensure the stability and resilience of the financial system as a whole:

• Developing and implementing monetary policy in line with the UAE's economic objectives

• Issuing national currency and maintaining currency stability

• Providing regulatory supervision of licensed financial institutions, setting prudential standards, and ensuring compliance with international standards

• Protecting customers' rights and adding transparency to financial services available to customers

• Monitoring credit conditions that support sustainable and balanced economic growth

• Managing the UAE's foreign currency reserves, to have sufficient assets to cover the monetary base

• Overseeing financial market infrastructure systems, including electronic payment systems, digital currencies, and stored value facilities,

• Regulating and developing the insurance sector, licensing insurance companies, and ensuring insurers are appropriately solvent

• Protecting policyholder rights and enabling fair and sustainable competition among insurance services to improve the quality of service

Through its power of fulfillment, the CBUAE is facilitating a secure, effective, and innovative financial system to meet the demands of a rapidly developing economy.