Central Bank of United Arab Emirates (CBUAE) is considering Emiratisation of leading banking and insurance professions.
The proposal was mooted at the apex bank’s fifth board meeting chaired by Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and Chairman of the Board of Directors of the CBUAE.
The board approved the CBUAE’s projected budget for the year 2022.
Sheikh Mansour highlighted the plans for the coming period on digital inclusiveness and greening of the financial system in keeping with best international practices to safeguard the stability and integrity of the UAE marketplace and economy.
The board discussed a proposal for conducting a study on job nationalisation programme and Emiratisation of leading professions by qualified UAE citizens in the banking and insurance sectors.
The board approved the Retail Payment System, the Large-Value Payment Systems (LVPS) and Card Schemes Regulation in addition to amending the Licensing and Monitoring of Exchange Business.
The bank also approved criteria of the UAE banks’ loan exposure to real estate sector.