Emirate of Abu Dhabi and traditional mud-brick huts were rapidly replaced with banks, boutiques and modern highrises. The United Arab Emirates is located in the oil-rich and strategic Persian Gulf region. It adjoins the Kingdom of Saudi Arabia and the Sultanate of Oman. Abu Dhabi is located in the far west and southwest part of the United Arab Emirates along the southern coast of the Persian Gulf between latitudes 22°40’ and around 25° north and longitudes 51° and around 56° east. It borders the emirate of Dubai and emirate of Sharjah to its north. The total area of the Emirate is , occupying about
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