​In line with the Government’s objective to promote and protect the financial stability of the UAE and to ensure an integral financial system at the local and international levels, the Ministerial Council for Development discussed the formation of the Financial Stability Board to provide recommendations necessary for enhancing the financial performance in the UAE.

The Ministerial Council for Development, chaired by H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs and Chairman of the Ministerial Council for Development, affirmed that the integration between financial policies and the economic frameworks is a shared responsibility among all relevant entities. The establishment of the Financial Stability Board will ensure quick government actions to secure liquidity for banks and protect deposits.

The Board also reviewed a number of other subjects in the governmental affairs.