|05 April, 2020

The Central Bank of the UAE welcomes the appointment of H.E. Abdulhamid Saeed as Governor

The CBUAE Board of Directors welcomes H.E. Saeed appointment as Governor

Abu Dhabi:  Following the issuance of the federal decree on the appointment of H.E. Abdulhamid Saeed as the Governor of the Central Bank of the UAE (CBUAE) on 2nd April 2020, the Board of Directors welcomes H.E. Saeed in his new position.

As a former Board Member and former Group Chief Executive Officer of First Abu Dhabi Bank PJSC, H.E. Abdulhamid Saeed has an extensive record of service in the UAE banking sector and will continue the CBUAE’s successful trajectory in enhancing monetary and financial stability through effective supervision, ensuring prudent reserve management, and building and protecting a robust financial infrastructure in line with international best practices. This includes the implementation of the Targeted Economic Support Scheme to contain the repercussions of the COVID-19 pandemic announced in March 2020.

Commenting on the decree of his appointment, H.E. Abdulhamid Saeed said: “I sincerely thank the leadership of the UAE, on appointing me in the position of Governor of the Central Bank of the UAE. It is an honor to perform this national duty, to lead a critical institution that promotes monetary and financial stability and lays the foundation for sustainable economic growth.”

H.E. Abdulhamid Saeed replaces H.E. Governor Mubarak Rashed Khamis Al Mansoori, who held this role since September 2014 and made invaluable contributions to facilitating a sound banking system resulting in improved financial system stability and economic growth during that time. The CBUAE Board of Directors expressed their sincere gratitude to H.E. Al Mansoori for his numerous achievements.

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