Sultan Bin Nasser Al Suwaidi

Central Bank Governor shines light on challenges ahead Islamic Banks

There are already 8 Islamic banks in the UAE with 260 branches and assets and liabilities of AED 269 Billion (US$ 73.1 Billion). This represents 17% of total assets and liabilities of the banking system in the UAE.
Sultan Bin Nasser Al Suwaidi, UAE Central Bank Governor, congratulated the Sultanate of Oman for licensing its first Islamic bank at a seminar on "Islamic Finance in a global perspective" which was held at the Central Bank.

Central Bank Islamic CDs climb to Dh12b

The Islamic certificates of deposit launched by the UAE Central Bank are now the equivalent of $3.27 billion. This statement was given by Sultan Bin Nasser Al Suwaidi, Central Bank Governor.
He added that although such figures are impressive, there are some challenges, first one of the kind being the short-term liquidity management at Islamic banks and other Islamic financial institutions. Another challenge for Islamic finance is the distinction between profit to shareholders and profit to investors/depositors, which is still unclear.

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