Khalifa bin Zayed bin Sultan Al Nahyan the President of UAE appointed financial services veteran Khaled Mohamed Balama Al Tameemi as the governor of Central Bank of UAE (CBUAE).
According to reports, the appointment was made during a meeting of the CBUAE’s board of directors chaired by Deputy Prime Minister and Minister of Presidential Affairs Sheikh Mansour bin Zayed.
Mr. Al Tameemi has more than 30 years of experience in banking, financial services, asset management and investments. He has been a board member of the central bank since 2008 and was appointed as its deputy governor in February this year to help the regulator develop, support and supervise financial institutions in the UAE.
Previously, Mr. Al Tameemi was a board member at the General Pension and Social Security Authority, and an executive director of the Abu Dhabi Investment Council’s real assets department.
According to the statement, Mr. Al Tameemi will take over the role of the regulator following the decision of governor Abdulhamid Saeed Alahmadi to retire after achieving the tasks entrusted to him in the wake of the pandemic. The UAE had pledged billions of dollars last year to combat the impact of the pandemic and it was mostly monetary programs aimed at reducing or waiving payments.
The role of a central bank governor in Arab Gulf countries differs from elsewhere, as the regulator secures its currency to the dollar and policy tends to move in lockstep with the US Federal Reserve.
Mr. Al Tameemi got graduated in 1990 with a bachelor’s degree in finance from Indiana University in the US and has held the Chartered Financial Analyst (CFA) professional credential since 1995.