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Central Bank of the United Arab Emirates

 

Central Bank of the United Arab Emirates Logo

The Central Bank of the United Arab Emirates (Arabic: مصرف الإمارات العربية المتحدة المركز‎) is the central bank of the United Arab Emirates. The main responsibility of the Central Bank is formulation and implementation of banking, credit and monetary policies, to ensure the growth of the national economy of the UAE in a balanced manner.

 
 

The Central Bank is also working to maintain a fixed exchange rate of the dirham against the U.S. dollar and to ensure the free convertibility of the national currency into foreign currencies, in addition to its role as 'Bank of Banks' and the Government's bank and its financial adviser.

The Central Bank formally commenced its functions on 11 December 1980 in pursuance of the provision of Union Law No. (10) of 1980, which superseded Union Law (2) of 1973, establishing the former Currency Board in the United Arab Emirates. In defining the Central Bank's objectives, Article 5 of Union Law No. (10) of 1980 states that the Central Bank:


'Shall direct monetary, credit and banking policy and supervise over its implementation in accordance with the State's general policy and in such ways as to help support the national economy and stability of the currency.'

For the attainment of these objectives, the said law empowers the Central Bank to:

 • Exercise the privilege of currency issue;
 • Endeavor to support the currency, maintain its stability internally and externally and ensure its free convertibility into foreign currencies;
 • Direct credit policy in such ways as to help achieve balanced growth of the national economy;
 • Organize and promote banking and supervise over the effectiveness of the banking system;
 • Undertake the function of the bank of the government within the limits prescribed in the law;
 • Advise the government on financial and monetary issues;
 • Maintain the government's reserves of gold and foreign currencies;
 • Act as the bank for banks operating in the country; and
 • Act as the State's financial agent at the International Monetary Fund, the International Bank for Reconstruction and Development, and other International and Arab Funds and Institutions and carry out dealings of the State with such concerns.

In achieving the objectives as mentioned above, the Central Bank commits itself to providing effective support functions through a sound banking and financial control system, appropriate information system and the development of competent and qualified staff.

Central Bank of the United Arab Emirates HQ Location Map

Central Bank of the United Arab Emirates
HQ Address: Al Bainunah Street
Al Bateen Area
P.O. Box 854
Abu Dhabi
United Arab Emirates
Tel: +971 2 665 2220
Fax: +971 2 665 2504
Website: www.centralbank.ae
Email: comments@cbuae.gov.ae
Currency: United Arab Emirates dirham
Banking Hours: Sat - Thurs 8.00am - 3:00pm
 

 

The Central Bank is entrusted with the task of organizing banks in upgrading their management and to ensure their financial soundness. Circulars and regulations are being issued from time to time by the Central Bank to achieve this objective. The Central Bank is also continuously studying various ways and means to make the UAE a noted regional financial center.
 
 

List of banks governed by the Central Bank of the United Arab Emirates
Local Banks
» National Bank of Abu Dhabi » Abu Dhabi Commercial Bank » ARBIFT
» Union National Bank » Commercial Bank of Dubai » Dubai Islamic Bank
» Emirates NBD Bank » Emirates Islamic Bank » Mashreq Bank
» Sharjah Islamic Bank » Bank of Sharjah » United Arab Bank
» InvestBank » The National Bank of R.A.K » Commercial Bank International
» National Bank of Fujairah » National Bank of U.A.Q » First Gulf Bank
» Abu Dhabi Islamic Bank » Dubai Bank » Noor Islamic Bank
» Al Hilal Bank » Ajman Bank
Foreign Banks
» National Bank of Bahrain » Rafidain Bank » Arab Bank
» Banque Misr » El Nilein Bank » National Bank of Oman
» Credit Agricole CIB » Bank of Baroda » BNP Paribas
» Janata Bank » HSBC Bank Middle East » Arab African International Bank
» Al Khaliji (France) S. A » Al Ahli Bank of Kuwait » Barclays Bank
» Habib Bank » Habib Bank A.G Zurich » Standard Chartered Bank
» CitiBank N.A » Bank Saderat Iran » Bank Meli Iran
» Blom Bank France » Lloyds TSB Bank » The Royal Bank of Scotland N.V
» United Bank Ltd » Doha Bank » Samba Financial Group
» National Bank of Kuwait

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