Central Bank of UAE: Efficiency and Digitalisation are the Future the Banking Sector

According to local news reports, Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, stated that the COVID-19 pandemic has left the world at a “critical juncture”, where the development of financial infrastructure and digital solutions are vital for survival.

Sheikh Mansour stated that efficient policies and mechanisms would be required in response to the volatile developments taking place within the global financial sector. In addition, Sheikh Mansour stated that it was important for the senior management of the Central Bank of the United Arab Emirates (CBUAE) to embrace digital transformations and ensure greater efficiency and higher levels of operability.