The Central Bank may, in accordance with the instructions and rules stipulated in the investment policy and guidelines approved by the Board of Directors, invest its Foreign Reserves in all or any of the following instruments:

1) Gold bullions, gold coins and other precious metals.

2) Currency notes and coins, call money, and placements in foreign countries.

3) Securities issued or secured by governments of foreign countries and related entities, or by international monetary and financial institutions.

4) Derivatives and other financial instruments required for the management of Central Bank’s exposure to interest rates, currencies, credit, gold, and other precious metals.

5) Any other financial assets the Central Bank deems appropriate for investment as foreign assets, subject to approval of the Board of Directors.

The Central Bank may, in accordance with the investment policy and guidelines set by the Board of Directors, deploy or invest part of its Own Funds in the following:

1) Purchase and sell securities, and subscribe to loans issued or guaranteed by the Public Sector, or buy shares in any entity wherein the Government or governments of emirates members of the Union hold shares, or is granted a concession in the State.

2) Invest in projects, investment funds and financial institutions not licensed by the Central Bank.

3) Acquire real estate, equity and movable properties and all related matters.

The Central Bank may appoint external parties to manage its Foreign Reserves and Own Funds, in accordance with the investment policy and guidelines set by the Board of Directors.