Mansour Bin Zayed Chairs CBUAE Board Meeting On Financial Stability And Digital Transformation
His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister of the UAE, chaired a Central Bank of the UAE (CBUAE) board meeting at Qasr Al Watan in Abu Dhabi. The meeting included key figures such as Vice Chairmen Abdulrahman Al Saleh and Jassem Mohammed Bu Ataba Al Zaabi, alongside Governor Khaled Mohamed Balama. Other notable attendees were board members Younis Haji Al Khoori, Sami Dhaen Al Qamzi, and Dr. Ali Mohammed Al Rumaithi.
H.H. Sheikh Mansour praised the CBUAE's achievements in 2025, highlighting its role in strengthening the UAE's financial sector and global financial standing. He stressed the importance of aligning with leadership directives to enhance financial stability and efficiency while supporting digital transformation. The aim is to create an innovative financial environment that boosts the national economy's competitiveness.
The board examined various agenda items, including CBUAE's 2025 accomplishments and progress on transformational projects like the International Central Securities Depository and Real Time Gross Settlement System. They also approved the estimated budget for 2026. Additionally, developments in Emiratisation within the financial sector were discussed, with significant progress noted in the "Ithraa" Emiratisation Programme.
The programme achieved 95% of its targets by recruiting 9,754 UAE Nationals into banking, financial, and insurance sectors from 2023 to 2026. This initiative aligns with efforts to increase local participation in these industries.
The board was informed about several central banks joining the "Jisr" platform for central bank digital currencies (CBDCs). This initiative interlinks with the UAE’s Instant Payment Interface (IPI) and aims to facilitate cross-border payments through Jaywan, the UAE's First Domestic Card Scheme. These efforts are expected to reduce transaction costs significantly and enable instant payment settlements globally.
The strategy involves expanding participation in UAE’s payment systems by more central banks during 2026, enhancing economic prospects and solidifying the UAE’s role in global financial connectivity.
Regulatory Developments
The board reviewed plans for developing regulatory systems for banking and insurance sectors. They approved three new regulations: Insurance Licensing Regulation, Insurance Brokers’ Regulation, and Telemarketing Regulation. These regulations comply with Cabinet Resolution No. (56) of 2024 concerning telemarketing rules aimed at improving consumer protection and market efficiency.
Discussions also covered projects related to transforming UAE’s financial infrastructure led by CBUAE. The governance system of the board was evaluated along with initiatives to boost Emiratisation and international cooperation plans involving Central Bank subsidiaries.
The board considered reports from various departments within CBUAE to make decisions supporting future priorities and reinforcing the UAE’s financial system strength.
With inputs from WAM
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