Abu Dhabi, UAE – His Excellency Khalid Mohammed Balamaa, Governor of the Central Bank of the UAE, affirmed that the financial and banking sector enjoys the highest levels of strength and stability. Banking and financial institutions and insurance companies naturally continue to provide their services to the public efficiently, regularly and without interruption throughout the country.
He stressed that the Central Bank of the United Arab Emirates has been a process full of achievements for more than 53 years.
During this period, he was able, thanks to the wise vision of the wise leadership, to maintain the flexibility, durability and stability of the UAE’s financial and banking position.
Despite the successive geopolitical changes that the region witnessed during that period, the central bank and the state’s banking and financial sector demonstrated a high capacity for flexibility, adaptation and growth.
This has strengthened the UAE’s position as an attractive and safe destination and a leading financial center at the regional and global levels.
His Excellency added that this eventful march reflects the strength of the foundations upon which the UAE’s financial and banking system was built.
Which is based on good governance, discipline, financial and banking diversity, proactiveness in risk management, and high readiness to deal with regional changes.
He pointed out that the banking and financial sector in the UAE enjoys very high levels of capital adequacy and cash liquidity.
The capital adequacy ratio is 17%, while the liquidity coverage rate exceeds 146.6%, levels that exceed the regulatory requirements recommended by international bodies and organizations.
Solid financial institutions
His Excellency explained that the total assets of the banking and financial sector in the UAE, which exceed 5.42 trillion dirhams, reflect the size and strength of the financial positions of banking institutions and their ability to fulfill their obligations and continue to support economic activity at various times and circumstances.
He stressed that the banking systems, payment systems and national financial infrastructure are operating with complete efficiency and stability.
It is supported by advanced operational and technical frameworks that ensure the smooth and secure continuity of banking and financial operations.
His Excellency stated that banking and financial institutions operating in the country apply advanced frameworks to identify and manage risks and business continuity in accordance with the best international standards and practices.
Which enhances its ability to deal with potential variables and challenges efficiently and flexibly.
He stressed that the UAE Central Bank continues to coordinate with relevant authorities and financial institutions to follow up on developments. Ensuring full operational readiness and continuity of financial and banking services without being affected.
