UBF's CEOs Advisory Council places high priority on Emiratisation and evaluates transformation of banking sector

Abu Dhabi: A meeting between members of the CEOs Advisory Council of the UAE Banks Federation (UBF) was held today in Dubai to discuss recent developments, issues and advancements in the finance and banking sector in the UAE, with a particular focus on Emiratisation.  

Directed by H.E. AbdulAziz Al Ghurair, Chairman of UBF, the meeting focused on a wide range of topics, including progress on existing UBF programs and initiatives, advances on Emiratisation efforts, findings and results from UBF’s latest Trust Index Survey, and the upcoming Middle East Banking Forum (MEBF) in November 2019.

Speaking on the occasion, H.E AbdulAziz Al Ghurair said: “The astounding amount of change and transformation in the UAE banking industry means it is increasingly necessary for us to regularly hold these meetings, so that we may analyze key strengths, opportunities, and challenges in the sector. For this specific meeting we identified our priorities based on the current happenings in the financial and banking industry, as well as the overall larger economy. The recent announcement of the creation of more than 20,000 jobs for Emiratis in top-tier sectors, including banking, has driven us to focus on Emiratisation efforts within banks, and evaluate ways of working together to enhance the skills and expertise of UAE nationals. Additionally, we are confident that the banking sector will continue progressing and evolving in lieu of the highly positive results from the recently announce Trust Index Survey 2018.”

Distinctively positioned at the centre of the banking industry, which underpins the economy, UBF has a responsibility to support the UAE’s progressive vision to empower society at all levels. Whether it’s addressing the ever-changing challenges in the market, or developing the skills of UAE nationals to increase their recruitment to vital positions in the industry, UBF is continuously working towards a sustainable and diversified economy.

Current plans and initiatives in the banking sector focus on innovation and digitization, and aim to provide easy access to multiple government and non-government services. From next month, banks will start adopting UAE Pass, a new mobile app which acts as a digital identity and digital signature solution, enabling individuals to conduct financial transactions, upload documents, validate documents and share data. The Emirates Digital Wallet, a tool aimed at promoting financial inclusion and driving a cashless society, is also being developed and will be launched soon.

The council also discussed the upcoming seventh edition of MEBF, held under the theme ‘Unlocking the Future, Shifting the paradigm’, which is set to bring together over 500 delegates including governors, c-executives from banks, financial regulators and private sector entities to discuss opportunities and challenges in the financial industry. It will focus on key topics including FinTech, Islamic Finance and risk management, and will be held on 12 November 2019 at the Fairmont Bab Al Bahr hotel in Abu Dhabi.

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For further information, please contact:

Dr. Soha Emam

UAE Banks Federation

Tel No.:  +971 2 446 7706

e-mail: Soha@uaebf.ae 

Mary Khamasmieh

Weber Shandwick

Mobile No.: +971502731753

e-mail: MKhamasmieh@webershandwick.com 

Jonathan Fisher

Weber Shandwick

Mobile No.: +971529359464

email: JFisher@webershandwick.com 

Sara Abuhassira

Weber Shandwick

Mobile No.: +971504115226

e-mail: SAbuhassira@webershandwick.com 

About UAE Banks Federation:

Established in 1982, UAE Banks Federation is a professional representative body comprising 52-member banks operating in the UAE. The Federation advocates all banks' interests, and enhances cooperation and coordination among them, to promote and upgrade UAE's banking sector for the benefit of banks, customers, and the overall UAE economy.

UAE Banks Federation's mission and objectives are focused on representing its member banks and defending their interests and rights. The federation provides a platform for cooperation and exchange of ideas and expertise among member banks and plays a major role in raising public awareness around the beneficial role and distinctive financial, economic and social contribution of banks to the UAE.

The Federation has a CEOs Advisory Council that consists of 28 Banks' CEOs which oversees the implementation of UBF's policies, follows up on UBF's activities and makes necessary decisions, by the General Secretariat of UBF and its 20 specialized technical committees who discuss all relevant banking issues.

© Press Release 2019