The central bank said that its regulatory stress test demonstrated that the UAE banking system is resilient to potential macro-financial instability.
Tuesday 09, July 2019 BY KUDAKWASHE MUZORIWA
The Central Bank of the UAE (CBUAE) has launched its 2018 Financial Stability Report (FSR).
The regulator said that the UAE banking system remains strong, with enough capitalisation and liquidity reserves, solid financial performance and high operating efficiency.
CBUAE said that although the macro-financial outlook remains supportive of financial stability, members of the financial system must be mindful of potential global and regional macro-financial risks.
HE Mubarak Rashed Al Mansoori, the Governor of CBUAE, said, “Looking at our achievements in 2018, an important milestone for us was the issuance of the Decretal Federal Law No. (14) of 2018 regarding the Central Bank & Organisation of Financial Institutions and Activities.”
The central bank said that it will continue to further enhance the regulatory and supervisory framework of the banking system, to ensure the continued resilience of the financial sector.