Central Bank Of The UAE

The Central Bank of the United Arab Emirates is the state institution responsible for managing the currency, monetary policy and banking regulation in the United Arab Emirates (UAE). It was established on 19 May 1973 as the United Arab Emirates Currency Board. This followed the creation of the UAE as an independent state in 1971. The Central Bank of the UAE has powers to issue and manage the currency; to ensure the stability of the currency; to manage the UAE's credit policy; to develop and oversee the banking system in the UAE; to act as the Government's banker; to provide monetary and financial support to the Government; to manage the UAE's gold and currency reserves; to act as the lender of last resort to banks operating in the UAE; and to represent the UAE in international institutions such as the International Monetary Fund, the World Bank and the Arab Monetary Fund. Read less