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| A comprehensive guide
to current and future events and exhibitions in the UAE |
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Valuable concise reference source on the UAE,
covering political system, economy, business, history and heritage,
education, women, healthcare, tourism and environment. |
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Natural history of the UAE,
covering all animals and plants recorded in the Emirates. |
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THE ECONOMY - CENTRAL BANK
 The Central Bank of the UAE, Finland sign MoU
Posted on 20/02/2010
The Central Bank of the UAE announced yesterday that Abdulrahim Mohammed Al Awadi, Assistant Executive Director and Head of Anti-Money Laundering and Suspicious Cases Unit (AMLSCU) of the UAE, signed here today Memorandum of Understanding (MoU), on anti money laundering, with Marku-Aho, Head of National Bureau of Investigation/Financial Intelligence Unit of Finland, at the margin of the joint FATF-MENAFATF plenary and the working Group meetings held at the Central Bank premises in Abu Dhabi.
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 UAE to step up efforts against money laundering
Posted on 18/02/2010
The UAE will step up its fight against money laundering and terrorist financing, the governor of the UAE Central Bank said.
"There is no room for complacency in the fight against money laundering and terrorist financing,” Sultan bin Nasser Al Suwaidi said at a three-day joint plenary meeting of the Financial Action Task Force (FATF) and the Middle East and North Africa FAFT, which opened in Abu Dhabi on Wednesday.
"Constant vigilance and global co-operation is the key to winning the
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![]() Central Bank signs MoU with Qatar's FIU
Posted on 17/02/2010
A Memorandum of understanding (MoU) was signed yesterday between Central Bank's the Anti - Money Laundering and Suspicious cases Unit (AMLSCU) and Qatar's Financial Information Unit (FIU).
The MoU was signed on the sidelines of the joint FATF and MENAFATF meetings, currently held in Abu Dhabi.
The MoU which calls for cooperation and exchange of information on money laundering and suspect terrorist funding transactions, was signed by Abdul Rahim Al Awadhi, Head of AMLSCU and Sheikh Ahmed bin
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 UAE Central Bank to sign MoUs with 14 countries to combat money laundering and terrorism financing
Posted on 10/02/2010
UAE Central Bank announced yesterday that it will sign next week memoranda of understanding (MoU) with fourteen countries to coordinate efforts to counter money laundering and to combat terrorism financing and the related financial crimes.
The MoU will be signed on the sidelines of the joint meeting of the International Working Group of Financial Action Task Force (FATF) and Middle East '&' North Africa Financial Action Task Force (MENAFATF) which will be held in Abu Dhabi between 14th and
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![]() UAE Central Bank received over 1700 reports on suspicious money laundering operations
Posted on 10/02/2010
Reports about suspicious money laundering transactions rose to 1729 in 2009 from 1170 in 2008, Deputy Executive Director of the UAE Central Bank and the Head of its Anti-Money Laundering '&' Suspicious Cases Unit (AMLSCU) Abdul Rahim Al Awadhi disclosed yesterday.
Al Awadhi said at a press conference yesterday the rise in the number of reports underlines commitment by banking, financial, economic and commercial institutions and corporations to laws and regulations issued by the Central Bank
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 The Central Bank of the UAE presents IMF report on the country's dealing with repercussions of world financial crisis
Posted on 09/02/2010
Governor of the Central Bank of the UAE HE Sultan Nasser Al Suwaidi, has reiterated that the World Financial Crisis is over when it comes to the financial part, but its repercussions are still clear on the property and investment sectors.
Al Suwaidi added at a press conference held here today at the UAE Central Bank's head office to announce the report of the executive council of the International Monetary Fund (IMF) discussed in Washington on Feb. 3, that the report commended the UAE
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 Banks don’t need government funds for now: Al Suwaidi
Posted on 03/02/2010
The country's economy is ‘resilient, with a 2.3 per cent rise in bank lending last year, so there is no need for the government to inject more liquidity into the banking system, said Sultan bin Nasser Al Suwaidi, the governor of the Central Bank of the UAE.
"When there is a need, then of course we will consider, but there is no need for the time being,” Al Suwaidi told reporters in Abu Dhabi. "The liquidity is good,” he added.
The Central Bank of the UAE and Ministry of Finance injected
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 UAE Central Bank sets July 31 deadline for new cheque norms
Posted on 24/01/2010
In line with the UAE Central Bank's requirements of security features on dirham cheques, banks in the country have begun asking their customers to mention "PDC deposit" clearly in case of post-dated cheques, Emirates Business has learnt. Failure to meet these requirements may result in rejection of such cheques.
"Our customers are fully aware of this and they have until July 31 to comply. We have sent them communiqués on this requirement," Saif Al Shehhi, Senior General Manager, Domestic
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 Central Bank Governor: UAE banks face no liquidity problems
Posted on 07/01/2010
The banks in the UAE do not face any liquidity problems, but enjoy high liquidity and are not in need of any additional support, said the Governor of the UAE Central Bank HE Sultan Bin Nasser Al Suwaidi.
In remarks made on the sidelines of the opening of the new headquarters of the Sharjah Islamic Bank (SIB), Al-Suwaidi also said that the global economic and financial crisis has stabilised somewhat, which reflected positively on the UAE.
The economic growth in the UAE will not be
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 UAE banks have largest capital in Arab World
Posted on 27/12/2009
An intensive drive to bolster their financial position has sharply boosted the combined capital of the UAE banks and allowed the country to have the largest banking system in the Arab World, according to latest official figures.
At the end of 2008, the shareholders equity of the UAE's 24 national banks and 28 foreign units stood at Dh165.5 billion, the highest in the region, showed the figures by the Arab Monetary Fund (AMF), a key Arab League institution.
The report gave no data for 2009
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 Money supply in UAE surges by Dh47bn
Posted on 24/12/2009
UAE money supply jumped by more than Dh47 billion in the third quarter of this year as a result of a sharp rise in the banks' combined assets. From around Dh674.3bn at the end of the third quarter of 2008, M2 surged to nearly Dh728.8bn at the end of the third quarter of 2009, a rise of 6.9 per cent, Central Bank figures showed.
M2, covering currency in circulation, demand, savings and time deposits, had steadily grown this year from Dh692.9bn at the end of the first quarter to Dh718.1bn at
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 Central Bank to establish currency printing plant
Posted on 13/12/2009
The Central Bank of the UAE announced yesterday that it has started laying down the bases for constructing a purpose-built building to house its Currency Printing Plant, to print UAE Dirhams and other currencies.
The Central Bank had invited some well-known International Companies specialising in the field of designing modern Currency Printing Plants. This building will be constructed on a plot of land granted recently by Abu Dhabi Municipality and located next to Central Bank Buildings
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 IMF hails UAE decision
to ‘shore up’ banking system
Posted on 01/12/2009
Washington - The International Monetary Fund said that it welcomes the decision by the UAE central bank to pump liquidity into its banking sector.
The IMF issued its comments after the central bank announced it had told UAE banks and foreign banks operating in the UAE "that is was making available to them a special additional liquidity facility linked to their accounts at the central bank.” The notification was widely seen as a move to calm markets and investor fears after state-controlled
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 Central Bank of the UAE backs UAE Banks, branches of foreign banks operating in the country
Posted on 29/11/2009
Central Bank of the UAE announced today that it stands behind UAE banks and branches of foreign banks operating in the country.
Central Bank has issued a notice to the UAE banks and branches of foreign banks operating in the UAE, making available to them a special additional liquidity facility linked to their current accounts at the Central bank, at the rate of 50 basis points above the three months EIBOR.
The Central Bank stated that the UAE Banking System is more sound and liquid than a
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 United Arab Emirates is progressive dynamic economy, Governor Central
Posted on 23/11/2009
HE Sultan Nasser Al Suwaidi, the Central Bank Governor has said that United Arab Emirates has a very dynamic economy and it is progressing well. He added that time is needed to absorb liquidity since the country is very attractive in the region for tourism and investment.
He said this while answering a query during an interactive session organised by National Media Council (NMC) for foreign journalists from 46 countries at ECSSR.
These senior journalists are invited by NMC on the occasion
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