UAE Central Bank
The CBUAE is the supervisory and regulatory authority of the banking and insurance sector in the UAE. It promotes financial and monetary stability, efficiency and resilience in the financial system, and the protection of consumers through effective supervision. The regulator was founded in 1980. Its major roles include setting up appropriate regulations and standards for protection of consumers of licensed financial institutions, constantly monitoring the credit condition in the state, and managing foreign reserves to maintain, at all times, sufficient foreign currency assets to cover the monetary base.
GCC central banks followed suit and raised interest rates by 25 basis points
Investments of banks in UAE rise by 4.3% on annual basis
For failing to comply with due diligence and reporting procedures
Saudi made a smaller increase after slight inflation slowdown
