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UAE \ Central Banks And Financial Regulatory Institutions \ Central Bank of the United Arab Emirates \ Executive Committee of the Central Bank Easy printable page

General Description
The Executive Committee is responsible for:
1) determine daily exchange rates in accordance with the
provisions of this law;
2) Consider and accept or reject applications for discounting
loans and advances submitted to the Central Bank by local
3) Buy and sell foreign instruments, bonds, notes and
certificates referred to in paragraphs (4) and (5) of Article
(74) of this Law;
4) Invest the Bank’s own funds, i.e., its capital and reserves,
and other funds held by it
5) Supervise over and ensure the proper implementation of the
rules and regulations relating to the Bank’s staff.
6) Decide on matters relating to the Bank’s immovable property
and real-estate rights;
7) Arbitrate, conciliate, or otherwise settle all issues affecting
the Bank’s interests;
8) Propose the Bank’s annual draft budget and final account,
and prepare the Bank’s annual report which is submitted to
the Board of Directors along with the Report of the Auditors.
Constitutional Framework
Section 3 of the Union Law No 10 for the year 1980 organized the Executive Committee in articles 26,27 and 28.
Mode of Election
The Executive Committee comprises:
The Governor as Chairman
The Deputy Governor as Deputy Chairman
Three Managers who are chosen by the Board of Directors
from among the Bank’s Department
(last updated: 04-June-2002)

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