The Board of Directors of the Central Bank approves the issuance of financial and insurance regulations to enhance the competitiveness of the financial sector in the country

His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President of the UAE, Deputy Prime Minister, Chief of the Presidential Court, and Chairman of the Board of Directors of the Central Bank of the United Arab Emirates, chaired the meeting of the Board of Directors of the Central Bank, which was held today at Qasr Al Watan in Abu Dhabi.

The meeting was attended by the Vice Chairman of the Board of Directors of the Central Bank, Abdul Rahman Saleh Al Saleh, and Jassim Mohammed Buataba Al Zaabi, along with the Governor of the Central Bank, Khaled Mohammed Balamma, and members of the Board of Directors, Younis Haji Al Khouri, Sami Dhaen Al Qamzi, and Dr. Ali Mohammed Al Rumaithi, in addition to the governor’s assistants, Ahmed Saeed Al Qamzi, Saif Humaid Al Dhaheri, and Ibrahim Al Sayed Al Hashimi, Assistant Governor – Executive Office Sector and Secretary General of the Board of Directors.

At the beginning of the meeting, His Highness Sheikh Mansour bin Zayed Al Nahyan welcomed the attendees, praising the qualitative efforts and achievements achieved by the Central Bank during the year 2025, which formed a fundamental pillar in developing the financial sector in the country and consolidating the UAE’s position as a global financial center.

His Highness stressed that the Central Bank is moving steadily, in accordance with the directives of the wise leadership, in implementing ambitious strategies that enhance financial stability, raise the efficiency of the financial system, support the path of digital transformation, and contribute to developing an innovative and secure financial environment that enhances the competitiveness of the national economy and embodies its global leadership position.

The Board of Directors reviewed the topics on the meeting’s agenda, the achievements of the Central Bank during the year 2025, and the progress of implementing transformational projects in banking operations and support services, including the International Central Securities Depository project and the instant gross settlement system. The Board of Directors also approved the estimated budget of the Central Bank for the year 2026.

The Council reviewed the latest developments in Emiratisation in the financial sector and the results of the Ithra Program for Emiratisation in the banking, financial and insurance sectors “2023-2026”, where 95% of the program’s goals were achieved by employing 9,754 male and female citizens.

The Council also reviewed the developments of some central banks joining the “Jisr” platform for multiple digital currencies for central banks, and linking with the UAE’s instant payment system “IPI” and the local payment card system “Gion” with the aim of facilitating cross-border payments, significantly reducing transaction costs, and providing immediate settlement of payments between the UAE and countries of the world.
This comes within the Central Bank’s expansion strategy by having more central banks join the UAE payment systems during the year 2026, thus enhancing economic prospects and consolidating the UAE’s leadership role in the global financial connectivity system.

The Council reviewed plans to develop the regulatory systems and legislation regulating the banking and insurance sectors, and approved the issuance of three new systems, including the insurance company licensing system, the insurance agents system, and the telephone marketing system, in implementation of Cabinet Resolution No. 56 of 2024 regarding telephone marketing controls, in a way that enhances customer protection and increases market efficiency.

He also reviewed the projects related to the state’s financial infrastructure transformation program, which is implemented by the Central Bank, the Board of Directors’ governance system, initiatives to enhance Emiratisation, international cooperation, and the plans of companies affiliated with the Central Bank.

The Council discussed the reports received from the various departments of the Central Bank, and took appropriate decisions regarding them in a way that supports the priorities of the next stage and strengthens the state’s financial system.