UBF CEOs Consultative Council Reaffirms Commitment to Further Develop Banking Industry - Middle East Business News and Information
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
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'.
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mid East Info
3 days ago
- Mid East Info
Dubai real estate market shatters records with historic AED66.8 bn of transactions in May 2025, Property Finder reveals
Dubai's real estate market delivered AED66.8 billion in sales transactions across 18,700 deals last month, solidifying the emirate's position as a global real estate powerhouse Primary ready sales reached AED17.9 billion, a 314% increase in value over last year, across 2,400 transactions, clocking up 145% growth. Secondary ready sales also reached a new peak, with 6,078 transactions worth AED24 bn, representing 8% growth in volume and 21% year-over-year growth in value, underscoring strong and sustained demand in the resale market. DUBAI, UNITED ARAB EMIRATES,June 2025: Property Finder, the leading property portal in the MENA region, has released its market performance highlights for May 2025, highlighting yet another month of record-breaking activity. Dubai's real estate market witnessed AED66.8 billion in sales transactions across 18,700 deals last month, Property Finder's proprietary data reveals. This historic achievement represents a staggering 44% year-over-year surge in transaction value and a solid 6% increase in volume, signalling robust market confidence and sustained investor appetite for Dubai properties. The performance was driven by strong growth in ready transactions, for both primary and secondary segments. Primary ready sales more than quadrupled compared to May 2024, reaching AED17.9 billion. This represented a 314% increase in value across 2,400 transactions and a 145% growth. Secondary ready sales also reached a new peak, with 6,078 transactions worth AED24 billion, representing 8% and 21% year-over-year growth in volume and value, respectively, underscoring strong and sustained demand in the resale market. Key data highlights: Primary market continues its dominance: Overall, primary ready and off-plan sales skyrocketed, rising by 65% year-over-year to reach AED 37 billion in May 2025. Secondary market shows resilience: Overall, the secondary sales market set a new record in May 2025, with AED 29 billion in transaction value and 8,471 transactions, up 23% and 15% year-over-year, respectively. Strategic investment hotspots: Business Bay emerged as a premium investment magnet, capturing 5% of total primary transaction value despite representing only 3% of volume, indicating high-value, sophisticated investment activity. Al Barsha demonstrated broad market appeal, accounting for 2% of total value while commanding 5% of transaction volume, showcasing strong demand across price points. A notable AED 1.5 billion land transaction in Palm Deira further underscored institutional confidence in Dubai's long-term growth trajectory, bolstered by strong resale activity in key communities such as Business Bay, Al Barsha, and Wadi Al Safa 3. Consumer behaviour trends: Consumer preferences have stayed steady for the past one year, with apartments dominating demand from home seekers, representing 78% of rental searches and 60% of buyer interest. While studios attracted 21% of rental searches and only 15% of purchase interest, one-bedroom units commanded 35% of purchase searches and 38% of rental searches. This imbalance could potentially suggest that while studios are more attractive for budget-conscious renters, buyers tend to prioritise larger units, due to perceived long-term value, livability, or investment potential. Cherif Sleiman, Chief Revenue Officer at Property Finder, said, 'Just when we thought April was Dubai's most significant month in terms of transaction value at AED62.1 bn, May eclipsed this with AED66.8 billion in transaction value. This underscores the sustainability of the trends driving current growth. Dubai continues to lead real estate innovation by example, as evidenced by the recent launch of the region's first licensed tokenized property investment platform by Dubai Land Department. With the remarkable growth in population this year, welcoming nearly 1,000 new residents each day – double of last year's daily visitor arrivals, demand for housing is poised to reach peak levels. Against this backdrop, the real estate market is enjoying positive momentum, fuelled by digital transformation, international investor appetite, and a surge in demand for premium living. Real estate leaders who participated in Property Finder's recent roundtable are confident of transaction activity picking up throughout 2025, buoyed by unprecedented interest from international investors, alongside a strong off-plan performance and vibrant luxury resale activity. These trends speak to the city's enduring appeal and resilience, even amid global uncertainty. As Dubai shapes the future of real estate, Property Finder remains committed to empowering buyers and investors with the insights they need to move with confidence.'
Mid East Info
3 days ago
- Mid East Info
United Arab Bank PJSC launches strategic Rights Issue to raise up to AED 1.03 billion - Middle East Business News and Information
United Arab Emirates: United Arab Bank PJSC ('UAB'), listed on the Abu Dhabi Securities Exchange (ADX) announced that it proposes to increase its issued share capital by an amount up to AED 1,031,275,325 (one billion thirty-one million two hundred seventy-five thousand three hundred twenty-five dirhams) from AED 2,062,550,649 (two billion sixty-two million five hundred fifty thousand six hundred forty-nine dirhams) up to AED 3,093,825,974 (three billion ninety-three million eight hundred twenty-five thousand nine hundred seventy-four dirhams) by way of the Rights Issue offered to the existing shareholders of the Bank. Further, United Arab Bank has published an invitation to its shareholders (the 'Invitation') to subscribe for New Shares. Frequently asked questions relating to the Rights Issue will be made available on UAB's website on or around today's date. The New Shares will be issued at an issue price of AED 1 per New Share (the 'Issue Price'). The terms and launch of the Rights Issue were approved by the UAB's General Assembly Meeting held on 6 March 2025, following the approval of the Board of Directors of the Bank held on 4 February 2025. The necessary regulatory approvals have been obtained for this transaction. United Arab Bank intends to use the net proceeds raised from the Rights Issue to strengthen its capital base and to support future growth of the business of United Arab Bank. The holders of Rights, which includes shareholders of United Arab Bank and any persons who purchased Rights during the Rights Trading Period (the 'Eligible Persons'), will be entitled to exercise their Rights to subscribe for New Shares at the Issue Price commencing on 4 July 2025 and ending on 17 July 2025. The New Shares will be allocated to Eligible Persons on 24 July 2025. Refunds will be given to Eligible Persons, who did not receive the number of New Shares that they subscribed for, on or around 24 July 2025. Commenting on the announcement, Mr. Shirish Bhide, CEO of United Arab Bank said: 'The Rights Issue represents a significant milestone in the Bank's journey towards its next phase of growth. It is an important step in strengthening United Arab Bank's capital position and reinforces our long-term commitment to sustainable growth. The additional capital will support the implementation of our growth strategy, enhance our financial resilience, and create long-term value for our shareholders while continuing to serve the UAE economy and contribute to its development agenda.' First Abu Dhabi Bank PJSC has been appointed as Lead Manager and Bookrunner in respect of the Rights Issue and Al Tamimi & Co. have been appointed as Legal Adviser. Expected Timetable of Principal Events Event Date (2025) Date of publication of the Invitation 3 June Eligibility Date of Rights (record date)* 19 June First day of trading the Rights on the ADX 27 June Last day of trading the Rights on the ADX 10 July Subscription Opening Date 4 July Subscription Closing Date 17 July Date of allocation 24 July Refund date On or around 24 July Commencement of Dealings in the New Shares On or around 30 July * In order to receive Rights on the Eligibility Date, investors must ensure that they execute any purchase orders for shares at least two business days prior to the Eligibility Date, i.e. on or before 17 June 2025, to allow for the settlement of trades on the ADX (which operates on a T+2 basis).
Mid East Info
3 days ago
- Mid East Info
Celebrate Eid with Exquisite Gifting and Hosting Essentials from Jashanmal Group - Middle East Business News and Information
This Eid Al Adha, elevate your celebrations with timeless elegance and refined craftsmanship from Jashanmal. Discover a thoughtfully curated range of tableware, accent décor, and luxury serving pieces — perfect for meaningful gifting and graceful entertaining. Timeless Dining with Dankotuwa Porcelain Bring luxury to your Eid table with Dankotuwa's Porcelain Mir 59-Piece Dinner Set. This stunning set features 22-karat gold plating and elegant pink and gold detailing. The porcelain build ensures a polished, long-lasting finish that immediately catches the eye. Dishwasher safe up to 100 cycles (low setting) Price: AED 4,999 Available at Jashanmal stores and online at Gifting Elegance: Maleras Mystiqua Blue The Maleras Mystiqua Blue is a sophisticated Eid gift, perfect for a home. Handcrafted in Sweden, this sandblasted crystal piece is hand-painted with a radiant gold finish. Designed for durability and charm, it makes a meaningful and lasting gift. Price: AED 945 Available at Jashanmal stores and online at Nordic Beauty in Crystal: Maleras Puffin Celebrate the wonder of Nordic wildlife with the Maleras Puffin — a handcrafted crystal sculpture that brings artistry into your home. Its sandblasted and hand-painted finish ensures timeless appeal. Price: AED 895 Available at Jashanmal stores and online at Serve in Style: Pantazelos Roses Collection Host your guests in luxury with the Pantazelos Roses Collection — a sophisticated set enhanced with intricate gold accents. Roses Rect Tray Large: AED 2245 Roses Thermos: AED 2095 Roses Rotating Stand: AED 1435 A perfect companion for refined Eid gatherings, this collection is where craftsmanship meets timeless beauty. Available at Jashanmal stores and online at Luxury Redefined: The Pentazelos Collection Add grandeur to your festive home with the Pentazelos range — a selection of gold and silver finished serving pieces that elevate every occasion. Stand for Arabic Coffee Cup: AED 825 Blossom Dallah Thermos: AED 1975 Crafted to impress, each piece reflects the spirit of celebration and sophistication. Available at Jashanmal stores and online at Jashanmal Luxury Gift Cards: The Perfect Choice for Every Occasion Make Eid gifting effortless while ensuring every moment of giving is deeply cherished, consider the Jashanmal Premium Gift Cards—an exceptional offering for all your Gifting needs. These reloadable gift cards, available up to AED 5,000 with a one-year validity, allow recipients the freedom to choose from a wide range of luxury products, from fashion and electronics to home décor and travel items. Ideal for both personal and corporate gifting, these cards ensure that your gift is thoughtful and meaningful, while offering ultimate flexibility and convenience. With Jashanmal's century-long tradition of trust and quality, these gift cards represent the perfect fusion of practicality and luxury. Accepted across Jashanmal stores in the UAE, Oman, Kuwait, and Bahrain, they offer a premium shopping experience with a variety of carefully curated products. Celebrate these special occasions and make them unforgettable with Jashanmal's thoughtful gift options. Celebrate Eid with elegance, artistry, and the joy of meaningful moments — only at Jashanmal.
