Arab Central Bank

The Central Bank of the Arab Union (Arabic: البنك المركزي للاتحاد العربي al-bank al-markizī lil-ittiḥād al-ʿarabī) manages the nation's currency and monetary policy and oversees the commercial banking system. The Central Bank controls the country's money supply is the sole issuing authority of the Union dinar. It provides banking services to the government and state enterprises, loans money to financial institutions, and sets national interest rates. The President of the Central Bank is appointed by the Prime Minister of the Arab Union on advice of the Minister of Finance. The Central Bank has its headquarters at the National Vault on the north side of Fedayeen Square, The Commons, directly opposite the National Bourse.