UBF CEOs Consultative Council reaffirms commitment to further develop banking industry
Abu Dhabi, United Arab Emirates: The CEOs Consultative Council of UAE Banks Federation (UBF), the sole representative and unified voice of UAE banks, held its first regular meeting for 2025 under the chairmanship of H.E. Mohammed Omran Al Shamsi, Vice Chairman of UAE Banks Federation and Chairman of the Board of Directors of RAKBANK, to discuss developments, challenges and their effects on the banking and financial sector, as well as ways to achieve the UBF's strategic objectives for the current year (2025).
The meeting reviewed 2024's achievements and UBF's strategy and initiatives for 2025. The participants discussed projects and plans of the Federation to keep abreast of developments in the banking and financial sector as part of its efforts to provide an advanced, secure, and seamless banking experience for customers in line with the approach and directives of the Central Bank of the UAE (CBUAE), which aims to cement the UAE's status as a global banking and financial centre.
H.E. Mohammed Omran Al Shamsi, Vice Chairman of UAE Banks Federation and Chairman of the CEO Consultative Council, said: 'The continued strong performance of the UAE banking sector is a testament to the success of efforts exerted to support UAE's economic development by further enhancing he sector's capabilities to provide innovative products and services, under the direct supervision of the Central Bank of the UAE. We remain committed to ensure continuous progress of the banking industry, placing Emiratisation, human capital development, digital transformation, sustainability and financial inclusion at the top of our priorities".
The CEOs Consultative Council of UAE Banks Federation stressed the ability of the banking sector to continue its strong performance while maintaining strong capital efficiency rates, allocations and reserves, as the aggregate capital and reserves of banks operating in the UAE increased to AED 534.7 billion by the end of December 2024, while the total capital adequacy ratio reached 17.8%.
The meeting pointed out that the steady growth of banking assets to reach AED 4.56 trillion by the end of last year (2024) is a confirmation of the UAE's leading position and the effectiveness of the policies set by CBUAE to develop the banking and financial sector.
The meeting noted the significant increase in foreign investments by 18.2%, which reflects the attractiveness of the UAE and its economic ecosystem to investors, adding that the increase of gross credit to AED 2.18 trillion demonstrates the ability of the banking sector to meet the requirements of economic growth in various sectors.
During the meeting, the participants praised the UAE banks' resilience in dealing with global developments and challenges, which enables banks operating in the country to take advantage of the opportunities provided by the national economy and contribute to achieving the strategic goals of the UAE.
The meeting stressed the importance of UBF's efforts in promoting Emiratisation, under the guidance of CBUAE, urging UBF member banks to build on the outstanding achievements achieved by in 2024, where they exceeded the Emiratisation targets by 152.9%, to provide more opportunities for UAE nationals and continue in training and upskilling programmes to keep pace with accelerated developments in the banking and financial sector.
The CEOs Consultative Council reaffirmed UBF's commitment to continue efforts and endeavours to fully comply with legislative and regulatory frameworks as well as keeping pace with technological developments and protect digital infrastructure to ensure provision of the best banking and financial services to customers.
The meeting stressed importance of increasing the range of services and products to support financial inclusion and the growth of small and medium-sized enterprises (SMEs), which are considered one of the main engines of economic growth, while continuing efforts to provide innovative products for sustainable financing and achieving the Sustainable Development Goals (SDGs).
During the meeting, Mr Jamal Saleh, Director General of UAE Banks Federation, presented an overview of the banking and financial sector's performance, achievements of UBF in 2024 and Q1-2025 as well as the Federation's plans for the coming period to enhance its role in the socio-economic development of the UAE.
Mr. Jamal Saleh, Director General of UAE Banks Federation said: 'The CEOs Consultative Council's meeting discussed the UAE Banking Federation's plans to further strengthen UAE's position as a financial and banking centre, under the direct supervision of the Central Bank of the UAE, ways to boost the sector's growth, compliance with local and international legislation and regulations, governance, transparency, and sustainability. The participants stressed the importance of continuing coordination, exchange of experiences and knowledge, and benefiting from platforms provided by UBF to support the development of the banking industry'.
-Ends-
About UAE Banks Federation (UBF):
Established in 1982, UAE Banks Federation (UBF), the sole representative and unified voice of UAE banks, comprising 62 members of banks and financial institutions operating in the UAE. UBF advocates the interests of all its members and enhances cooperation and coordination between them in order to elevate the UAE's banking ecosystem for the benefit of members, customers, and the overall UAE economy.
UBF's mission and objectives are focused on representing its members and defending their rights and interest. UBF provides a platform for cooperation and the exchange of ideas and expertise among its members and plays a significant role in raising public awareness about the contributions of the UAE banking sector to the economic and social development of the country.
UBF has a 22-member Advisory Council consisting of CEOs and General Managers from member banks and financial institutions, which oversees the implementation of UBF's policies and activities. The CEOs Council also makes directional decisions through UBF's General Secretariat for UBF's 28 technical and 6 advisory committees, which in turn are tasked to discuss all issues relevant to the UAE banking and financial services ecosystem. UAE Banks Federation also includes a CEOs Consultative Council, which consists of chief executives of other member banks.
For further information, please contact:
Sooyin Lee
UAE Banks Federation
sooyin@uaebf.ae
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