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Khaled Mohamed Balama
Khaled Mohammed Salem Balama Al Tameemi is the current governor of the Central Bank of the United Arab Emirates (CBUAE). He has over 30 years of experience in the fields of banking, financial services, asset management, and investments. Balama was born in the United Arab Emirates and studied finance at Indiana University School of Business (now Kelley School of Business), where he received a Bachelor of Science degree in 1990. He has been a Chartered Financial Analyst (CFA) since 1995. He has held various senior positions at the Abu Dhabi Investment Authority, including executive director of the Real Assets Department. Balama was appointed governor of CBUAE on 5 April 2021. As governor, he is responsible for overseeing the functions of ensuring the UAE's monetary and financial stability. He has overseen several initiatives, including the Targeted Economic Support Scheme (TESS). In September 2021, CBUAE issued new guidance to help financial institutions combat money laundering and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of The United Arab Emirates
The Central Bank of the United Arab Emirates () (Central Bank of the UAE or CBUAE) is the state institution responsible for managing the currency, monetary policy, banking and insurance regulation in the United Arab Emirates. History The Qatar and Dubai Currency Board was established in 1966, and split in 1973 into separate arrangements for Qatar and the UAE respectively. In the latter, its successor was the United Arab Emirates Currency Board, which was actually a fully-fledged central bank rather than a mere currency board but adopted that name to reassure investors about monetary stability. That "Currency Board" was established on 19 May 1973. This followed the creation of the UAE as an independent state in 1971. The original purpose of the UAE Currency Board was to issue an independent currency for the new state to replace the existing currencies in use: the Qatari riyal and the Bahraini Dinar. The new UAE dirham entered circulation on the same day the Currency Board was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Targeted Economic Support Scheme
The Targeted Economic Support Scheme (TESS) is a stimulus package launched by the Central Bank of the United Arab Emirates in March 2020 in response to the economic impacts of the COVID-19 pandemic. The TESS consisted of 50 billion United Arab Emirates dirham in funding from the bank and 50 billion freed up from the capital buffers of the banks, which were used to provide collateralized loans at zero cost to participating banks. These loans were used to grant temporary relief to eligible customers for a period of up to six months. In December 2020, the central bank announced that it would extend the validity of key components of the TESS until June 30, 2021. This extension allowed banks and finance companies participating in the TESS to provide new loans and facilities to customers affected by the pandemic starting on January 1, 2021. As of December 2020, the TESS loan deferral program had already benefited over 310,000 retail customers, nearly 10,000 small and medium-sized enterp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Governors Of The Central Bank Of The United Arab Emirates
A governor is an administrative leader and head of a polity or political region, in some cases, such as governors-general, as the head of a state's official representative. Depending on the type of political region or polity, a ''governor'' may be either appointed or elected, and the governor's powers can vary significantly, depending on the public laws in place locally. The adjective pertaining to a governor is gubernatorial, from the Latin root ''gubernare''. In a federated state, the governor may serve as head of state and head of government for their regional polity, while still operating under the laws of the federation, which has its own head of state for the entire federation. Ancient empires Pre-Roman empires Though the legal and administrative framework of provinces, each administered by a governor, was created by the Romans, the term ''governor'' has been a convenient term for historians to describe similar systems in antiquity. Indeed, many regions of the pre-Roman an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
