The United Arab Emirates’ central bank has declared its financial system operational and stable despite regional military escalation. The statement follows missile and drone attacks reportedly targeting the UAE, a growing hub for cryptocurrency firms. The regulator cited strong capital and liquidity buffers. Some crypto exchanges, including Bybit and Bitget, have activated contingency plans to ensure operational continuity.
The United Arab Emirates’ banking system remains fully operational amid escalating regional conflict, the country’s central bank stated. Governor Khaled Mohamed Balama said financial institutions “continue to operate with full efficiency and stability.”
The statement aims to reassure markets as the UAE’s role as a regional financial and crypto hub draws attention during geopolitical stress. Regional tensions escalated after Iranian drone and missile attacks targeted the UAE last weekend.
Debris from intercepted projectiles caused fires and damage near sites in Dubai, including infrastructure around Jebel Ali Port. The central bank emphasized the financial sector’s resilience despite these developments.
It reported the banking system’s capital adequacy ratio stands at about 17%, while the liquidity coverage ratio exceeds 146.6%. Total assets in the UAE banking and financial sector exceed $1.48 trillion, according to the regulator.
The UAE hosts a rapidly growing digital asset industry, with over 1,800 crypto companies operating across the country. Dubai’s DMCC free zone alone hosts more than 600 Web3 businesses.
Some crypto firms have taken precautionary steps following the geopolitical developments. Crypto exchange Bybit began reviewing employee safety and activating cross-regional support systems.
Bitget CEO Gracy Chen informed staff that the exchange had activated emergency protocols. Chen wrote in an internal letter, “We have activated emergency protocols and will accompany and support every colleague during this special period.”
