Central Bank discusses important issues in UAE

The Central Bank of the United Arab Emirates has held the Third Quarterly Meeting of 2012 with representatives of banks operating in the UAE to discuss important issues related to banking business. The meeting was chaired by Sultan bin Nasser Al Suwaidi, UAE Central Bank Governor and attended by Abdul Aziz Al Ghurair, Chairman of Emirates Banks Association and Chief Executive Officers of banks operating in the UAE. At the meeting, a presentation was given on the US Foreign Account Tax Compliance Act (FATCA) requirements and its potential impact on banks operating in the UAE. In addition, the meeting discussed issues related to banking business.