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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] |
Abu Dhabi
Abu Dhabi is the capital city of the United Arab Emirates. The city is the seat of the Abu Dhabi Central Capital District, the capital city of the Emirate of Abu Dhabi, and the UAE's List of cities in the United Arab Emirates, second-most populous city, after Dubai. The city is situated on a T-shaped island, extending into the Persian Gulf from the central-western coast of the UAE. Abu Dhabi is located on an island in the Persian Gulf, off the Central West Coast. Most of the city and the Emirate reside on the mainland connected to the rest of the country. , Abu Dhabi's urban area had an estimated population of 2.5 million, out of 3.8 million in the emirate of Abu Dhabi. The Abu Dhabi Investment Authority is headquartered in the city, and was the Sovereign wealth fund#Largest sovereign wealth funds, world's 3rd largest sovereign wealth fund in 2022. Abu Dhabi itself has over a trillion US dollars worth of assets under management in a combination of various List of coun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Al Ain
Al Ain () is a city in the Emirate of Abu Dhabi, United Arab Emirates, and the seat of the administrative division of the Al Ain Region. The city is Oman–United Arab Emirates border, bordered to the east by the Omani town of Al-Buraimi. Al Ain is the largest inland city in the Emirates, the List of cities in the United Arab Emirates, fourth-largest city (after Dubai, Abu Dhabi, and Sharjah), and the second-largest in the Emirate of Abu Dhabi. The Controlled-access highway, freeways connecting Al Ain, Abu Dhabi, and Dubai form a geographic triangle in the country, each city being roughly from the others. Climate and geography Al Ain is known as the "Garden City" () of Abu Dhabi, the UAE or the Persian Gulf, Gulf, due to its greenery, particularly with regard to the city's oases, parks, tree-lined avenues and decorative roundabouts, with strict height controls on new buildings, to no more than seven floors. According to one author, the oases around Al Ain and Al-Ahsa Oasis, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1980
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ancie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Banks
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Many central banks also have supervisory or regulatory powers to ensure the stability of commercial banks in their jurisdiction, to prevent bank runs, and, in some cases, to enforce policies on financial consumer protection, and against bank fraud, money laundering, or terrorism financing. Central banks play a crucial role in macroeconomic forecasting, which is essential for guiding monetary policy decisions, especially during times of economic turbulence. Central banks in most developed nations are usually set up to be institutionally independent from political interference, even though governments typically have governance rights over them, legislative bodies exercise scrutiny, and central banks frequently do show responsivenes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Central Banks
This is a list of central banks. Central banks by alphabetical order This is a list of central banks. Countries that are only partially recognized internationally are marked with an asterisk (*). Major central banks by currency allocation percentage of worldwide foreign exchange reserves Source: World Currency Composition of Official Foreign Exchange Reserves, International Monetary Fund Former central banking jurisdictions * – Bank of Amsterdam (1609–1791) * – Taula de canvi de Barcelona (1401–1714) * – East African Currency Board (1919–1966) * – (''Hrvatska Državna Banka'', 1941–1945) * – National Bank of Czechoslovakia (1926–1939 and 1945–1950) and State Bank of Czechoslovakia (1950–1992) * – Frankfurter Bank (1854–1875) * – Bank of Saint George (1407–1805) * – Deutsche Notenbank (1948–1968) and Staatsbank der DDR (1968–1990) * – Hamburger Bank (1619–1875) * – Bank of Chōsen (1909–1950) * – Cent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mohammad Al Gaz
Mohammad Abdallah Al Gaz (c. 1920 – April 12, 2016) (), was a financier, developer, diplomat, central banker and Philanthropy, philanthropist in the early years of the United Arab Emirates. Al Gaz became a member of Dubai’s first generation of market-making investors and developers in the 1950s through his famous partnership with Juma al Majid. While a notable statesman and business magnate, Al Gaz is widely regarded as a pioneering figure in the history of philanthropy in the United Arab Emirates, with most of his lifetime achievements stemming from generous contributions made to establish various charitable endowments, including some funds that would go on to establish the Beit AlKheir charity, which was the first formalized charitable institution in Dubai. Early life Al Gaz was born in Al Dhagaya, Deira in 1920 to a modest family. His father, Abdulla Mohamed AlFalasi, passed away unexpectedly when Al Gaz had barely reached adolescence. Despite this, his mother enrolled ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EIBOR
The Emirates Interbank Offered Rate (EIBOR), also abbreviated as EBOR, is a daily reference rate, published by the UAE Central Bank, based on the averaged interest rates at which UAE banks offer to lend unsecured funds to other banks in the United Arab Emirates dirham wholesale money market (or interbank market). Calculation and Tenors As of 29 May 2015 fixing is conducted each business day excluding Saturdays at 11AM UAE time. The fixing rate is the average of the contributions excluding the two highest and two lowest contributions for each tenor. As of 10 December 2013 the following tenors are calculated: * Overnight * 1 Week * 1 Month * 3 Months * 6 Months * 12 Months Contributing Banks As of January 2017 the following banks contribute to EIBOR: * Abu Dhabi Commercial Bank * Commercial Bank Of Dubai * EmiratesNBD * First Gulf Bank * HSBC Bank Middle East * MashreqBank * National Bank Of Abu Dhabi * National Bank Of Fujairah * RAKBANK * Standard Chartered Bank * Union N ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of The United Arab Emirates
The United Arab Emirates is a high-income developing market economy. The UAE's economy is the 3rd largest in the Middle East (after Turkey and Saudi Arabia ), with a gross domestic product (GDP) of US$415 billion (AED 1.83 trillion) in 2021-2023. The UAE economy is heavily reliant on revenues from petroleum and natural gas, especially in Abu Dhabi. In 2009, more than 85% of the UAE's economy was based on the oil exports. In 2011, oil exports accounted for 77% of the UAE's state budget. In recent years, there has been some economic diversification, particularly in Dubai. Abu Dhabi and other UAE emirates have remained relatively conservative in their approach to diversification. Dubai has far smaller oil reserves than its counterparts. Tourism is one of the biggest non-oil sources of revenue in the UAE. A massive construction boom, an expanding manufacturing base, and a thriving services sector are helping the country to diversify its economy. In 2007, there was US $350 billion ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (United Arab Emirates) ...
The Ministry of Finance (MoF) () is the ministry of the federal government of United Arab Emirates which is responsible for public finances. The ministry's objective is to promote fiscal planning and fiscal sustainability of the federal government of the United Arab Emirates. The ministry is located in Abu Dhabi and Dubai. Ministers See also * Cabinet of the United Arab Emirates * Economy of United Arab Emirates * Central Bank of the United Arab Emirates References External links * (English) {{DEFAULTSORT:Ministry of Finance (UAE) United Arab Emirates Economy of the United Arab Emirates Government finances in the United Arab Emirates Finance Finance refers to monetary resources and to the study and Academic discipline, discipline of money, currency, assets and Liability (financial accounting), liabilities. As a subject of study, is a field of Business administration, Business Admin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Action Task Force
The Financial Action Task Force (FATF), also known by its French name, Groupe d'action financière (GAFI), is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering and to maintain certain interest. In 2001, its mandate was expanded to include terrorism financing. The FATF Secretariat is administratively hosted at the OECD in Paris, but the two organisations are separate. The objectives of FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. FATF is a "policy-making body" that works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas. FATF monitors progress in implementing its Recommendations through "peer reviews" ("mutual evaluations") of member countries. Si ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank For International Settlements
The Bank for International Settlements (BIS) is an international financial institution which is owned by member central banks. Its primary goal is to foster international monetary and financial cooperation while serving as a bank for central banks. With its establishment in 1930 it is the oldest international financial institution. Its initial purpose was to oversee the settlement of World War I war reparations. The BIS carries out its work through its meetings, programmes and through the Basel Process, hosting international groups pursuing global financial stability and facilitating their interaction. It also provides banking services, but only to central banks and other international organizations. The BIS is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City. History Background International monetary cooperation started to develop tentatively in the course of the 19th century. An early case was a £400,000 loan in gold coins, in 1825 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
