UAE banking sector is well-capitalised with adequate liquidity buffers: CBUAE report

UAE banking sector is well-capitalised with adequate liquidity buffers: CBUAE report

Dubai: The UAE’s financial system showcased remarkable resilience throughout 2022, as affirmed by the Central Bank of the UAE (CBUAE) in its recently released Financial Stability Report. Despite facing global headwinds, the UAE’s banking sector remained well capitalized and equipped with ample liquidity buffers, contributing to the system’s unwavering stability. The report highlights the significant role played by favorable domestic conditions in insulating the UAE’s financial system from adverse global economic trends. Consequently, the risks impacting the system remained well-contained, staying within acceptable boundaries and exhibiting minimal changes compared to the previous year. “The UAE Financial Stability Report 2022 demonstrates the best practices followed by the CBUAE in maintaining a stable, sustainable and resilient financial sector that is able to manage potential risks,” said Khaled Mohamed Balama, Governor of the CBUAE. “These efforts are in line with our vision of becoming among the world’s leading central banks in promoting monetary and financial stability and is in support of enhancing the competitiveness of the financial sector as part of the UAE’s strategic objectives.” A notable achievement revealed in the report is the accelerated growth of the UAE’s real GDP in 2022. This growth was fueled by a robust recovery in non-oil