The state news agency stated on Sunday, that the President, His Highness Sheikh bin Zayed Al Nahyan ordered to recognized of the Central Bank of the UAE’s board of directors.
According to Wam, the Central Bank governor Mubarak Rashed Khamis Al Mansoori has been reappointed for the next four years. Sheikh Khalifa has issued a federal decree reestablish the board of director of directors of the central bank.
Hareb Masoud Hamad Al Damari was named chairman whereas Abdulrahman Saleh Al Saleh can hold the position of vice-chairman. different members embrace solon Rashed Khamis Al Mansoori, Younis pilgrim Al Khoori, Khalid prophet Salem Balama, Khalid Ahmed Altayer, and Ali prophet Bakheet Al Rumaithi.
The board of administrators of the financial institution shall be reconstituted for an amount of 4 years.
Meanwhile, the financial institution aforesaid its closely observance Invest Bank's monetary developments for a few times and has been operating with the bank and therefore the government of Sharjah to develop a thought to strengthen its capital base.
In this regard, the govt of Sharjah is firmly committed to supporting the bank via a right away equity investment and this arrange is bestowed at the bank's AGM on Gregorian calendar month twenty-nine for approval.
In the in the meantime, the financial institution can support Invest Bank with all the on the market liquidity facilities, that stay at Invest Bank's disposal, if and once required.
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