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UAE central bank chief: fintech very beneficial to banking sector

Technology underlying crypto-currencies, financial technologies are beneficial to banking sector, UAE central bank governor said.

ABU DHABI The technology underlying crypto-currencies and other new financial technologies are really beneficial to the banking sector, United Arab Emirates central bank governor Mubarak Rashid al-Mansouri said on Tuesday.

Asked at a financial industry conference whether U.S. interest rate rises this year might pressure the UAE dirham’s peg to the U.S. dollar, Mansouri reiterated that the fixed exchange rate regime had benefited his country.

About Marc Mcilhone

Marc Mcilhone
Marc Mcilhone is ArabBrains' Editor - sourcing news and features content and overseeing the work of the site’s contributors. Marc’s work is informed by his technical background in architecture having worked for some of the UK’s leading practices on projects within the education, healthcare and housing sectors. Marc has a particular interest in how innovators are creating sustainable solutions that have a positive impact on people’s everyday lives. Please email press releases and news to: editor@arabbrains.com

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