Under the chairmanship of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Chairman of the Board of Directors, the Central Bank of the UAE held its second meeting for the current year. The meeting reviewed the resilience of the UAE's financial system, which has shown a high degree of resilience amid the current exceptional conditions affecting global and regional markets, without any significant impact on the stability of the banking sector and payment systems. His Highness affirmed that the insightful leadership of the country is the fundamental guarantee for the robustness and stability of the financial system. These record results translate the sustained confidence and global competitiveness of our national economy, reinforcing the UAE's position as a leading global financial hub. Continuing its proactive approach, the Board approved a comprehensive proactive support package to enhance the flexibility of financial institutions, aiming to support the stability and resilience of the banking sector. The package includes five main axes that allow banks to access liquidity and provide additional flexibility to use excess liquidity and capital reserves. These axes cover monetary policy measures, liquidity and financing ratio reductions, capital buffer reductions, credit risk management flexibility, and additional support.
