Published On: Fri, Nov 14th, 2014

Central Bank of the UAE, Federal Reserve Bank of New York explore joint cooperation

Federal Reserve Bank of New York

Federal Reserve Bank of New York

Mubarak Rashed Al Mansoori, Governor of the Central Bank of the UAE, met with William C. Dudley, President of the Federal Reserve Bank of New York, today 13 November 2014, on the margins of his visit to the UAE, at the invitation of the Central Bank of the UAE.

During the meeting, facilitating opening of correspondent accounts in the US for financial institutions operating in the UAE was discussed. The two sides emphasised on the continuation of cooperation in the field of training for bank examiners in the UAE and in the region, through the program held by Central Bank of the UAE annually, in collaboration with the Federal Reserve Board and the Federal Reserve Bank of New York.

The President of the Federal Reserve Bank of New York met also with UAE bank CEOs. The meeting was attended by the Governor and senior staff of the Central Bank.

He also delivered remarks at a luncheon hosted by the Central Bank in his honor,during which he touched upon the developments of the monetary policy in the US.

Mubarak Rashed Al Mansoori, the Governor of the Central Bank, welcomed Dudley and the accompanying delegation and emphasized in a statement the need for cooperation and coordination with international supervisory and monetary authorities to ensure the stability of the financial system.

Source : WAM News Agency for United Arab Emirates

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