UAE Banking Sector Resilient: Central Bank
The Governor of the Central Bank of the United Arab Emirates, Khaled Mohamed Balama, affirmed that the banking sector in the UAE is characterized by strong liquidity and capital. This enhances its ability to effectively face economic fluctuations and absorb shocks. He pointed out that liquidity indicators and financial robustness contribute to supporting the stability of the financial system and fostering sustainable economic growth. The focus is on developing regulatory frameworks, advancing financial technology, and updating policies in line with international standards, all with the aim of consolidating the UAE’s position as a global financial hub. He also announced that accelerating digital transformation and financial innovation are top priorities for development to ensure the protection of the financial system from cyber risks and to enhance the effectiveness of digital services.
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