Board of directors of UAE Central Bank welcomes new governor

Board of directors of UAE Central Bank welcomes new governor

Abu Dhabi: The Board of Directors of the Central Bank of UAE on Saturday welcomed new governor Abdulhamid Saeed, following his appointment through a federal decree on April 2, 2020.

As a former Board Member and former Group Chief Executive Officer of First Abu Dhabi Bank, Abdulhamid Saeed has an extensive record of service in the UAE banking sector and will continue the CBUAE’s successful trajectory in enhancing monetary and financial stability through effective supervision, ensuring prudent reserve management, and building and protecting a robust financial infrastructure in line with international best practices, the central bank said in a statement. His immediate priority will be the implementation of the Targeted Economic Support Scheme to contain the repercussions of the COVID-19 pandemic announced in March 2020.

“I sincerely thank the leadership of the UAE, on appointing me in the position of Governor of the Central Bank of the UAE. It is an honor to perform this national duty, to lead a critical institution that promotes monetary and financial stability and lays the foundation for sustainable economic growth,” said Abdulhamid Saeed

Saeed replaces former governor Mubarak Rashed Khamis Al Mansoori, who held this role since September 2014 and made invaluable contributions to facilitating a sound banking system resulting in improved financial system stability and economic growth during that time. The CBUAE Board of Directors expressed their sincere gratitude to Al Mansoori for his numerous achievements.