Central Bank of the United Arab Emirates

Established on December 10, 1980, the Central Bank of the United Arab Emirates (CBUAE) succeeded the former UAE Currency Board, which was founded in 1973. The CBUAE's primary mission is to ensure the stability of the national currency, the dirham, and the country's financial system. Its responsibilities include formulating and implementing banking, credit, and monetary policies, maintaining the UAE's reserves of gold and foreign currencies, acting as the 'bank of banks' for financial institutions operating in the country, and serving as the financial agent for the government.