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

Khaled Mohammed Balama Al Tameemi has been appointed as Vice Governor of the Central Bank of the UAE (CBUAE), effective February 1, 2021.

Al Tameemi has over 30 years of experience in various entities and authorities including being a board member in the Central Bank, General Pension and Social Security Authority, as well as the Emirates Integrate Telecommunications Company (du).

Additionally, he had previously held the position of Executive Director of the Real Assets Department at Abu Dhabi Investment Council.

“In his capacity as vice governor [Al Tameemi] will oversee the execution of the [central bank’s] vision of promoting monetary and financial stability towards sustainable economic growth through effective supervision,” the central bank said in a statement.

“This milestone comes as part of the UAE’s policy to prepare Emirati cadres to take over key roles, ensuring proper business continuity and reaching desired goals,” it added.

In April last year, UAE President Sheikh Khalifa bin Zayed Al Nahyan appointed Abdulhamid Saeed as governor of the CBUAE.

Read: UAE Central Bank appoints new governor; extends debt relief measures to December 31

It has played a pivotal role in supporting the country’s financial institutions by way of its Targeted Economic Support Scheme (TESS) which it introduced last year that offered zero-interest, collateralised loans for UAE-based banks and also freed up funds from banks’ capital buffers.

More recently, in a bid to crack down on money laundering and lack of compliance among financial institutions in the country, it fined 11 banks a cumulative total of Dhs45.75m.