#Central Bank of the UAE

UAE Central Bank

UAE Central Bank foreign assets reach Dhs392.4bn by end of Q1 2021

The central bank’s foreign assets increased 0.4 per cent year-on-year

UAE Central Bank

Overall liquidity in UAE banking system back to pre-Covid levels – Central Bank

The Central Bank of the UAE projects the country’s real GDP to increase by 2.5 per cent in 2021

Exchange house in UAE fined Dhs504,000 by Central Bank

The exchange house reportedly has a weak anti-money laundering and combating financing of terrorism compliance framework

Central Bank of UAE

UAE’s Central Bank appoints Khaled Al Tameemi as Vice Governor

Al Tameemi has over 30 years of experience in various entities including being a board member in the Central Bank

Abu Dhabi lenders invest Dhs19bn in debt securities for Jan-Sep 2020

The balance of the investments in debt securities by Abu Dhabi lenders totalled Dhs182.5bn at the end of 2019

Central Bank of the UAE

UAE Central Bank extends Targeted Economic Support Scheme until June 2021

The TESS loan deferral programme has already benefited over 310,000 retail customers, nearly 10,000 SMEs and more than 1,500 private sector companies

Hawala operators in the UAE must register before December 2 to avoid penalties

Relevant legal actions will be taken for non-compliance

Etisalat

Etisalat Group reports Dhs4.6bn consolidated net profit for H1 2020, up 3% y-on-y

However, consolidated revenues of the UAE’s biggest telecom operator decreased 1 per cent to Dhs25.6bn

Outward personal remittances from the UAE in Q1 2020 increased 7.8% y-on-y

The top five destination countries for remittances were India, Pakistan, Philippines, Egypt and the US