The Central Bank of the United Arab Emirates was established on December 11, 1980, evolving out of the UAE Currency Board that had been created on May 19, 1973 following the country's 1971 independence. Headquartered in Abu Dhabi, it manages the UAE's currency and monetary policy, oversees banking and insurance regulation, serves as the government's banker and lender of last resort to the banking system, manages the country's gold and foreign-exchange reserves, and represents the UAE in international financial bodies including the IMF and the World Bank.
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