Latest news with #UBF
Mid East Info
30-04-2025
- Business
- Mid East Info
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.
Zawya
30-04-2025
- Business
- Zawya
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@
Zawya
22-04-2025
- Business
- Zawya
UBF's AGM approves 2025 strategy to further develop banking sector
ABU DHABI - UAE Banks Federation (UBF) held its Annual General Meeting, under the chairmanship of Abdulaziz Al-Ghurair, Chairman of UAE Banks Federation, and in the presence of members of the Board of Directors of the Federation and representatives of member banks. During the meeting, the members approved the previous minutes of the General Assembly held on 29th April 2024, the audited financial statements for 2024 and the auditors' report. The General Meeting also absolved the Board of Directors from liabilities arising from their duties for the financial year ending 31st December 2024 and appointed the auditors for 2025. The meeting approved the strategic goals and plans of UBF for 2025, as presented by the Board of Directors, to develop the UAE banking sector and strengthen the UAE's position as one of the global financial, economic, and commercial centres. The General Assembly emphasised the importance of supporting strong fundamentals of the banking industry and its role in socio-economic development to achieve the strategic objectives of the UAE. The meeting praised the steady strong growth of UAE banks in 2024, which maintained high capitalisation levels, strong profitability, sufficient liquidity, and stable financial reserves. This performance reaffirms the effectiveness of the Central Bank of the UAE's vision and efforts to establish the necessary frameworks to develop the banking and financial sector and provide a seamless and secure experience to all customers. The AGM hailed the efforts made by UBF in promoting Emiratisation, which aims to increase the number of UAE nationals working in banking and insurance according to the Central Bank of the UAE's plan, exceeding the Emiratisation's targets by achieving growth of 152.9 percent during 2024. The meeting stressed the importance of continuing efforts to further enhance Emiratisation, and training programmes for human capital in the sector to keep pace with the accelerated developments in the banking and financial industry and digital transformation. The meeting expressed appreciation for initiatives and programmes undertaken by the UBF during 2024, particularly in terms of enhancing trust, cementing the UAE as one of the top countries in the world with a 90 percent trust rate in the banking sector, which is the most trusted industry in the UAE according to Trust Index. It also noted the effectiveness of UBF's plans in accelerating digital transformation, protecting digital infrastructure, combating fraud and consolidating the financial system in the UAE by ensuring compliance with laws, regulations, and supervisory guidelines, as well as adherence to the highest standards of governance, transparency, and risk management. The General Assembly urged UBF member banks to further enhance financial inclusion and provide the best banking services and products to customers, focusing on supporting small and medium enterprises (SMEs) and entrepreneurs. Participants at the AGM praised UBF's efforts to strengthen cooperation with strategic partners, and banking associations in friendly countries. The General Assembly reiterated its support for member banks' efforts to increase sustainable finance by strengthening foundations to accelerate the transition to sustainable solutions. The meeting commended the awareness and training programmes organised by UBF as part of its efforts to enhance the skills of employees in the sector and keep abreast of the latest developments in the industry, as well as for providing appropriate platforms of knowledge and experience sharing.
Zawya
17-04-2025
- Business
- Zawya
UBF discusses plans to develop banking, financial industry
The CEOs Advisory Council of the UAE Banks Federation (UBF), the sole representative and unified voice of UAE banks, held its meeting chaired by Abdulaziz Al-Ghurair, Chairman of UBF, to review the banking and financial sector's performance during 2024, and discuss developments, initiatives and plans in 2025. The CEOs Advisory Council praised the strong performance and achievements of the banking sector during 2024, guided by the Central Bank of the UAE (CBUAE), which is leading the sector's efforts to support the national economy's growth by establishing the necessary frameworks to ensure financial stability, strengthen monetary and regulatory legislation, and upgrade the financial, banking and insurance sectors. Al Ghurair said that the banking and financial sector continues to develop and consolidate its leading position as the largest sector in the Middle East in terms of total assets, which increased by 12 percent over the past year to AED4.56 trillion. This reflects the CBUAE's effectiveness in supporting the growth of the banking and financial sector to drive economic and social development and cement the UAE's position as a global financial and banking centre. He added, "We are proud of the ability of UAE banks to register remarkable growth in promoting Emiratisation, as financial and banking institutions exceeded the set targets by achieving growth of 152.9 percent, employing 2,866 Emiratis during 2024, reaffirming that Emiratisation is a top priority for us." Al Ghurair emphasised the banking sector's commitment to achieving the strategic objectives of the UAE. He praised the efforts of the CEOs Advisory Council, which includes banking leaders with extensive experience and knowledge, to support decision-making in UBF, which focuses on ensuring a seamless and secure banking experience for customers. During the meeting, the CEOs Advisory Council discussed UBF's plans in 2025 to develop the banking and financial sector and maintain its leading position, stressing the importance of continuing efforts and initiatives to support Emiratisation, sustainability, governance, financial inclusion and support of small and medium-sized enterprises (SMEs), in line with the directives of the CBUAE. The meeting also discussed the latest developments and initiatives to keep pace with the accelerated developments in the global economy, digital transformation, digital infrastructure development plans, enhancing cybersecurity, raising awareness about financial crimes and advanced fraud methods and ways to combat them. It also emphasised the importance of doubling efforts to ensure compliance with laws, regulations, supervisory and supervisory guidelines and following the highest governance standards, transparency, and risk management. Jamal Saleh, Director-General of UBF, said, "The continued strong performance of the banking and financial sector confirms the distinguished position of the UAE as an economic power and a financial and banking centre, under the direct supervision of the CBUAE's, which sets the appropriate frameworks for the banking sector to play its role in economic and social development and provide a seamless and secure banking experience that meets the requirements and aspirations of customers." He added that the UBF remains committed to ensure continuous development and highest standards of compliance with regulations and policies to maintain an advanced banking system characterised by strength, resilience, and ability to keep pace with changes and developments in the global economy.
Zawya
17-04-2025
- Business
- Zawya
UBF CEOs Advisory Council discusses plans to develop banking and financial industry
Abu Dhabi- Dubai, United Arab Emirates: The CEOs Advisory Council of the UAE Banks Federation (UBF), the sole representative and unified voice of UAE banks, held its meeting on April 16, 2025, chaired by His Excellency Abdulaziz Al-Ghurair, Chairman of UBF, to review the banking and financial sector's performance during the past year (2024), and discuss developments, initiatives and plans in 2025 to develop the financial and banking sector. The CEOs Advisory Council praised the strong performance and achievements of the banking sector during the past year (2024), guided by the Central Bank of the UAE, which is leading the sector's efforts to support the national economy's growth by establishing the necessary frameworks to ensure financial stability, strengthen monetary and regulatory legislation, and upgrade the financial, banking and insurance sectors. H.E. Abdulaziz Al Ghurair, Chairman of UBF, said: 'The banking and financial sector continues to develop and consolidate its leading position as the largest sector in the Middle East in terms of total assets, which increased by 12% over the past year to AED 4.56 trillion, reflecting the effectiveness of the Central Bank of the UAE's strategies and policies to support the growth of the banking and financial sector to play its role in driving economic and social development, and cementing the UAE's position as a global financial and banking centre'. His Excellency added: 'The banking sector has been able to achieve a strong performance over the past year and maintain high capitalisation levels, strong profitability, sufficient liquidity, and stable financial reserves. We are proud of the ability of UAE banks to register remarkable growth in promoting Emiratisation, as financial and banking institutions exceeded the set targets by achieving growth of 152.9%, employing 2,866 Emiratis during 2024, reaffirming that Emiratisation is a top priority for us'. H.E. H.E. Abdulaziz Al Ghurair emphasised the banking sector's commitment to achieve the strategic objectives of the UAE. H.E. praised the efforts of the CEOs Advisory Council, which includes banking leaders with extensive experiences and knowledges, to support decision-making in UBF, which focuses on ensuring a seamless and secure banking experience for customers. During the meeting, the CEOs Advisory Council discussed UBF's plans in 2025 to develop the banking and financial sector and maintain its leading position, stressing the importance of continuing efforts and initiatives to support Emiratisation, sustainability, governance, financial inclusion and support of small and medium-sized enterprises (SMEs), in line with the directives of the Central Bank of the UAE. The meeting also discussed the latest developments and initiatives to keep pace with the accelerated developments in the global economy, digital transformation, digital infrastructure development plans, enhancing cybersecurity, raising awareness about financial crimes and advanced fraud methods and ways to combat them, stressing the importance of doubling down efforts to ensure compliance with laws, regulations, supervisory and supervisory guidelines and following the highest standards of governance, transparency, and risk management. Mr. Jamal Saleh, Director General of UBF, said: 'The continued strong performance of the banking and financial sector confirms the distinguished position of the UAE as an economic power and a financial and banking centre, under the direct supervision of the Central Bank of the UAE's, which sets the appropriate frameworks for the banking sector to play its role in economic and social development and provide a seamless and secure banking experience that meets the requirements and aspirations of customers'. He added: 'UBF remains committed to ensure continuous development and highest standards of compliance with regulations and policies to maintain an advanced banking system characterised by strength, resilience, and ability to keep pace with changes and developments in the global economy. We continue to strengthen cooperation with strategic partners and benefit from the extensive experience and knowledge of the members of the CEOs Advisory Council, the CEO Consultative Council, and technical and advisory committees, which are key drivers of our initiatives and plans'. 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@
