Mansour bin Zayed chairs the meeting of the Board of Directors of the Financial Stability Board… and adopts a plan for artificial intelligence and holds the first financial stability conference

ABU DHABI, 16 JULY / WAM / His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President of the UAE, Deputy Prime Minister, Chief of the Presidential Cabinet, Chairman of the Financial Stability Board, chaired the meeting of the Board of Directors of the Financial Stability Board, in the presence of His Excellency Mohammed bin Hadi Al Husseini, Minister of State for Financial Affairs, His Excellency Khalid Mohammed Al Amma, Governor of the Central Bank of the United Arab Emirates, His Excellency Mohammed Ali Al Shurafa Al Hammadi, Chairman of the Board of Directors of the Capital Market Authority, and His Excellency Ahmed Jassim Al Zaabi, Chairman of the Board of Directors of the Financial Stability Board. Abu Dhabi Global Market Management, His Excellency Fadel Al Ali, Chairman of the Board of Directors of the Dubai Financial Services Authority, and His Excellency Ibrahim Al Zaabi, Assistant Governor of the Central Bank for Monetary Policy and Financial Stability Affairs.

The Council followed up on the implementation of the decisions and recommendations issued by its previous meeting, and reviewed the procedures and measures taken under the current circumstances, in addition to developments in the work of the work teams, within the framework of continuing to enhance the readiness of the financial system and support its stability.

The Council also reviewed the artificial intelligence plan, which aims to employ modern technologies to support the Council’s work, and enhance its capabilities in monitoring and analyzing risks and anticipating future developments, in a way that supports the decision-making process and raises performance efficiency.

In addition, the Council approved the proposal to hold the first Financial Stability Conference, with the aim of providing a national platform that brings together regulators, financial institutions, experts and decision makers, to discuss the most prominent issues and developments related to financial stability, and to enhance the exchange of knowledge and best practices, in a way that contributes to supporting the flexibility and sustainability of the financial sector. The Council also discussed a number of topics related to its work, as part of its efforts to enhance financial stability in the UAE.

His Highness Sheikh Mansour bin Zayed stressed the importance of continuing cooperation and integration among member entities, in a way that enhances the flexibility of the financial system, increases its ability to keep pace with economic and financial changes, and employs modern technologies and artificial intelligence to support decision-making and enhance the efficiency of the financial system, in order to achieve the goals of sustainable development in the country.

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