CBUAE Board, Led By Mansour Bin Zayed, Evaluates FIT Programme's Progress

His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Central Bank of the UAE (CBUAE), chaired the CBUAE Board of Directors meeting at Qasr Al Watan, Abu Dhabi. The agenda included a review of project progress and plans under the Financial Infrastructure Transformation Programme (FIT programme).

The FIT programme aims to foster innovation and digital transactions, driving the UAE’s digital economy. Key projects discussed included the Central Bank Digital Currency (Digital Dirham), the Jaywan Domestic Card Scheme, and the Instant Payments Platform (Aani). The Board also reviewed updates on memorandums of understanding signed between CBUAE and other central banks.

Prev

Next

The Board approved regulations for licensing and overseeing stablecoins. Additionally, a series of policies aimed at supporting the banking and insurance sectors and services related to financial infrastructure were also approved. These measures are designed to enhance monetary and financial stability in the UAE.

Emiratisation Efforts

Updates on the Central Bank’s plans to enhance Emiratisation and support UAE nationals were reviewed. This includes new Emiratisation policies for institutions operating in the banking, financial, and insurance sectors. These initiatives aim to increase local participation in these critical industries.

Commendations and Future Goals

At the meeting's conclusion, His Highness Sheikh Mansour commended the CBUAE Board for their efforts in promoting innovation, digital transformation, and sustainability. He emphasized the importance of continuing these efforts to fulfil the Central Bank's objectives and vision to expand the financial sector.

Attendees

The meeting was attended by CBUAE Deputy Chairmen Abdulrahman Saleh Al Saleh and Jassem Mohammad Al Zaabi; CBUAE Governor Khaled Mohamed Balama; board members Younis Al Khoori, Sami Dhaen Al Qamzi, Ali Mohammed Bakheet Al Rumaithi; Saif Al Dhaheri, Assistant Governor; and Ibrahim Alsayyed Al Hashemi, Secretary-General of the Board.

With inputs from WAM