Constitution of the United Arab Emirates Union and for Sheikh Zayed bin Sultan Al Nahyan, ruler of Abu Dhabi, to be the President of the United Arab Emirates. In 1979, a draft "permanent" constitution was prepared which allowed for the creation of a unified military and judicial system. Initially, the emirate of Dubai was strongly opposed to the unification of the military forces and, along with Ras al Khaimah, refused to attend Supreme Council meetings of the union. Mediations by Saudi Arabia and Kuwait as well as by other UAE rulers reduced differences between Shiekh Rashid bin Saeed Al Maktoum, ruler of Dubai and Sheikh Zayed
Central Bank of the United Arab Emirates the Central Bank; dirham-denominated certificates of deposit; and currency in circulation. The department is organized into four main sections: Capital Markets, Money Markets and Foreign Exchange, Certificates of Deposit, and Back Office Settlements. This department undertakes audit functions across the following areas. Central Bank of the United Arab Emirates The Central Bank of the United Arab Emirates () is the state institution responsible for managing the currency, monetary policy and banking regulation in the United Arab Emirates (UAE). It was established on as the United Arab Emirates Currency Board. This followed the creation of the UAE as an independent state