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MENAFN - Khaleej Times - 21/05/2014
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(MENAFN - Khaleej Times) The central bank of the uae is planning to circulate currency notes with braille characters.

at the meeting of the board of directors of the central bank samples of currency printing papers were presented for approval in order to introduce the feature of braille characters to bank notes. the board instructed the officials to follow-up on this issue and take necessary action to implement.

according to an official handout the meeting discussed the major subjects proposed to be included in the new banking law currently being developed by the central bank. the board instructed to incorporate some amendments before submission of the draft law to concerned ministries.

the board reviewed a memorandum regarding uae-chinese banking and financial relations and a proposal for connecting china unionpay to uae switch in order to facilitate services proided to chinese tourists.

a report was presented to the board of directors on the latest developments concerning a study on money exchange business which is being done at the moment by mckinsey consultation company.

the board reviewed another report on the latest developments concerning the central bank’s information technology strategy which is being done by boston consulting group. the board instructed to have follow-up reports on the two projects.

the board also reviewed a monetary policy and financial stability department report on macro-prudential ratios for the banking system banking stability and liquidity indicators of the sector.

the board also reviewed the banking supervision department report on the financial and administrative status of banks and other financial institutions operating in the uae.

— haseeb?khaleejtimes.com


Khaleej Times

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