United Arab Emirates: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision and Payment Systems
IMF Staff Country Reports, January 27, 2003
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- United Arab Emirates: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision and Payment Systems
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Bibliographic details
- Published: January 27, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451801088.002
Summary and key findings
- This paper presents key findings of the Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, and Payment Systems for the United Arab Emirates (UAE).
- The UAE's financial sector and financial sector supervision are developing unevenly.
- The financial sector is dominated by well-supervised banks, which pose minimal near-term systemic risk.
- Although the payment systems are simple and far from state-of-the-art, they are well managed, and systemic risks are limited.
Financial sector structure and supervision
- The report characterizes the financial sector as unevenly developing, with strong bank supervision in place for major institutions.
- Dominant role of well-supervised banks implies concentrated banking sector influence on financial stability.
- Supervision quality for banks is identified as sufficient to keep near-term systemic risk minimal.
Payment systems assessment
- Payment systems are described as simple and far from state-of-the-art.
- Management of payment systems is judged to be adequate.
- Systemic risks from payment systems are assessed as limited.
Subject areas and keywords (as listed)
- Subject: Bank legislation, Bank supervision, Banking, Commercial banks, Financial institutions, Financial markets, Financial regulation and supervision, Foreign banks, Payment systems
- Keywords: balance sheet, Bank legislation, Bank supervision, banking law, banking license bank, banking sector, bridge financing, CBU, CBU representative, CBU staff, CBU supervision method, Commercial banks, company, CR, financial situation, financial system, Foreign banks, foreign currency, Global, ISCR, issue CBU guideline, liquidity support, market structure, monetary policy, Payment systems, Protect bank staff members, review CBU procedure, supervision method