UAE government overhauls central bank law

Central Bank of the UAE

The UAE government has made its first major update to the laws governing its central bank since the institution was established in 1980.

“This new law is expected to enhance the performance of monetary policy and ensure the stability of the currency in the state and shall contribute to the establishment of better regulatory frameworks for monitoring the status of credit in UAE and, hence, ensure the achievement of balanced growth in the national economy,” said deputy ruler of Dubai and minister

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