UAE Central Bank Governor: Stable Banking Sector

Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates, confirmed that the banking sector in the country currently exhibits strong financial indicators, with high levels of liquidity and capital, which enhances its ability to face challenges and support the stability of the financial system in the region. He explained that the UAE aims to send a clear message to the international financial community of its commitment to supporting global financial stability through flexible and adaptable monetary policies, while maintaining the strength of its financial system. He also emphasized the importance of developing regulatory and supervisory frameworks to improve the sector’s resilience to shocks, enhance the efficiency of asset and risk management, and strengthen the competitiveness of the financial sector. Furthermore, he pointed out that digital transformation and financial innovation, with a focus on protecting the financial system from cyber risks, are among the country’s top priorities to foster a resilient and sustainable economy, along with the importance of international cooperation to achieve global financial stability.

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