Central Bank of the UAE discusses new banking law [CPI Financial]
(CPI Financial Via Acquire Media NewsEdge) The Board of Directors of the Central Bank of the UAE hads held its fourth meeting of the year, discussing a proposed new banking law and reviewing comparative analysis between it and Federal Law No-10 of 1980, regarding the Central Bank, the monetary system and the banking sector.
The meeting, chaired by Khalifa Mohammed Al Kindi, Chairman of the Board, and attended by other board members and a group of senior Central Bank staff, also reviewed a report regarding the latest developments concerning a study on exchange business in the UAE, which is being carried-out by McKinsey Consultation Co; and a report on the latest developments concerning the Central Bank's information technology strategy, which is being developed by Boston Consulting Group.
Among the rest of the Board's deliberations, it gave the go ahead to the re-printing of quantities of currency notes of denominations AED 1000, AED 500, AED 200, AED 20, AED 10 and AED 5, using Braille characters.
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