ABU DHABI, 20th January, 2021 (WAM) -- The Board of Directors of the Central Bank of the UAE has held its regular meeting at Qasr Al Watan, chaired by H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.

During the meeting, the board discussed the topics listed in its agenda, including the suggestions of the 'Banking Supervision Department' and related decisions.

The suggestions include assessing the overall profits, allocations and profit distributions of banks in 2020, the adoption of new systems, and undertaking enforcement procedures against several financial institutions that violated the Central Bank’s instructions and regulations.

The board also discussed and approved proposed amendments to its overall precautionary policy and the merger of the Insurance Authority within the organisational structure of the Central Bank.

Sheikh Mansour thanked the board’s members for their work and directed them to intensify their efforts to achieve their goals, in line with the aspirations of the UAE’s leadership.

The meeting was attended by a number of senior officials.

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