President Sheikh Khalifa appointed Khaled Mohamed Balama Al Tameemi governor of the Central Bank of the UAE on Wednesday.
The appointment was made during a meeting of the bank's board of directors, chaired by Deputy Prime Minister and Minister of Presidential Affairs Sheikh Mansour bin Zayed, the state-run WAM news agency said.
Mr Al Tameemi takes over from Abdulhamid Saeed Alahmadi.
Sheikh Mansour thanked Mr Alahmadi for his efforts "during his tenure, where he worked to absorb the negative repercussions resulting from the [coronavirus] pandemic and to ensure that the monetary and financial system in the country was not affected by the repercussions of the crisis.
"He also worked to remove many of the obstacles that were facing the banking sector, during the crisis period," Sheikh Mansour added.
The central bank also took a decision at the board meeting to extend the Targeted Economic Support Scheme (Tess), the Dh50 billion ($13.61bn) zero-cost funding programme set up a year ago to help lenders maintain funding flows through the economy following the onset of Covid-19.
Last month, the regulator said liquidity in the banking system had already returned to pre-Covid-19 levels and that banks had substantially reduced their use of Tess, with the amount being drawn down declining to Dh22bn, half of the maximum drawdown of about Dh44bn reached in Q2 2020.
The funding programme is part of local and federal support packages worth Dh388bn, the Minister of Economy Abdulla bin Touq said in December.
The board also approved "various requests from national banks and financial institutions" and issued a licence to establish a specialist bank operating according to a low-risk system, according to Wam.
Mr Al Tameemi has more than 30 years' experience in banking, financial services, asset management and investments. He was appointed deputy governor of the central bank in February to help the regulator develop, support and supervise financial institutions.
Mr Al Tameemi has worked with public and government sector entities and has been a board member of the central bank since 2008.
He graduated in 1990 with a bachelor's degree in finance from Indiana University in the US and has held the Chartered Financial Analyst professional credential since 1995.
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
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About Takalam
Date started: early 2020
Founders: Khawla Hammad and Inas Abu Shashieh
Based: Abu Dhabi
Sector: HealthTech and wellness
Number of staff: 4
Funding to date: Bootstrapped
The specs
Engine: 6.2-litre V8
Transmission: ten-speed
Power: 420bhp
Torque: 624Nm
Price: Dh325,125
On sale: Now
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THE SPECS
Engine: 1.5-litre, four-cylinder turbo
Transmission: seven-speed dual clutch automatic
Power: 169bhp
Torque: 250Nm
Price: Dh54,500
On sale: now
Company Profile
Name: JustClean
Based: Kuwait with offices in other GCC countries
Launch year: 2016
Number of employees: 130
Sector: online laundry service
Funding: $12.9m from Kuwait-based Faith Capital Holding
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Walls
Louis Tomlinson
3 out of 5 stars
(Syco Music/Arista Records)
How to join and use Abu Dhabi’s public libraries
• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.
• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.
• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.
• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.
• For more information visit the library network's website.
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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Company%20profile
Brief scores:
Toss: South Africa, chose to field
Pakistan: 177 & 294
South Africa: 431 & 43-1
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57%20Seconds
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
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By committing to at least one of these daily, you can bring more gratitude into your life, says Ong.
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- In the evening, take some deep breaths, notice how your skin feels, and listen for what your skin is grateful for.
The Bio
Favourite place in UAE: Al Rams pearling village
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Your favourite type of pearl: All of them. No pearl looks the same and each carries its own unique characteristics, like humans
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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Muslim Council of Elders condemns terrorism on religious sites
The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.
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“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.
The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.
The specs: 2018 Maserati GranTurismo/GranCabrio
Price, base Dh485,000 (GranTurismo) and Dh575,000 (GranCabrio)
Engine 4.7L V8
Transmission Six-speed automatic
Power 460hp @ 7,000rpm
Torque 520Nm @ 4,750rpm
Fuel economy, combined 14.3L (GranTurismo) and 14.5L (GranCabrio) / 100km
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- I would recommend writing out the text in the body
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- But I recommend you use the bullet point function (see red square)
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
