Jun 26th, 2009 (WAM): The Board of Directors of UAE Central Bank reviewed today a report on the monetary position. The Board that met under the chairmanship of HE Khalil Mohammed Sharif Foulathi, Chairman of the Board, also reviewed a report regarding the banking indicators. In its 7th meeting of the year 2009 on Wednesday 24th June, the Board also reviewed applications submitted by banks operating in the UAE to expand their businesses and open new branches, and reviewed applications from natural and juridical persons to establish companies and establishments to undertake financial activities and money changing business.

The Board approved the applications, which fulfill the terms as per the law and regulations, as applied to each business activity The Board then addressed the remaining items on its agenda and took appropriate decisions. The meeting was attended by HE Dr Omar Mohammed Ahmed Bin Sulaiman, Deputy Chairman, and HE Sultan Bin Nasser Al Suwaidi, the Governor and other officials.