PHOTO
Abu Dhabi: The 7th edition of UAE Banks Federation (UBF)’s Middle East Banking Forum concluded successfully today, having brought together over 500 delegates including governors, c-executives from official banks, financial regulators and private sector entities. This year’s Forum, held at Fairmont Bab Al Bahr in Abu Dhabi, explored the most prevalent trends affecting the sector including Fintech, Islamic Finance, and Risk Management whilst taking pace with technological innovation, financial crimes, and automation.
H.E AbdulAziz Al Ghurair, Chairman of UAE Banks Federation, and H.E Mubarak Rashed Al Mansoori, Governor of Central Bank of the UAE, delivered insightful opening remarks which set the tone for the sessions that followed. H.E Mubarak Rashed Al Mansoori also held a one on one session entitled ‘The Pursuit of a Stable and Robust Financial System’, delivering his expertise and insights on what actions policymakers can take to mitigate the risks posed from increasing global debt, credit quality, and market volatility.
Speaking at the MEBF, H.E AbdulAziz Ghurair, said: “As the official representative body of the UAE Banking Sector, UBF advocates the interests of the entire industry for the benefit of the wider country and region. To future-proof and safeguard the sector, a spirit of collaboration is crucial. By gathering key industry players for the 7th edition of the Middle East Banking Forum, we are stimulating the rich dialogue and debate, and exchange of ideas necessary to further build and sustain a thriving banking ecosystem in the Middle East.
“The banking sector as a whole has a responsibility to help grow and develop society, so we are thrilled by the commitment, support, and enthusiasm today’s event received from our industry peers. I extend a special thanks to all participants that made this year’s Middle East Banking Forum another huge success, and I am confident they all took away valuable insights and expert knowledge that will help them achieve further growth. By better preparing banks for the future, we are securing a better future for the UAE and Middle East.”
Throughout the rest of the day, thought-leaders and experts took to the stage for a series of captivating presentations, lively panel debates, and exclusive on-stage interviews. Participants included Jamie Woodruff, Europe’s No.1 Ethical Hacker, who conducted an interactive session on ‘Hacking and Cybersecurity’. He demonstrated to the audience how easy it is to hack into someone’s phone, and the steps they can take to safeguard their data and privacy.
Greg Cross, Artificial Intelligence Pioneer, and Co-Founder and Chief Business Officer of Soul Machines, also conducted an interactive session entitled ‘The Future of Human and Machine’, in which the audience interacted with a HumanOS to explore the future of human machine cooperation, and re-imagine what is possible in the delivery and underlying economics of highly personalized customer experiences and specialized knowledge.
During his participation in a panel discussion about banking for millennials, Philip King, Global Head of Retail Banking, ADIB, said: “The Middle East Banking Forum represents a key moment in the calendar for UAE banks to discuss the major challenges and opportunities facing the sector. As a bank with a growing segment of millennial customers, we look forward to sharing our experience and expertise in creating a dynamic, digital banking proposition to serve their evolving financial needs and expectations. Through our digital innovation strategy, we continue to look at ways to create a simpler, more convenient banking experience for all of our customers, whether it’s through the ADIB mobile app, our online platform or across our branch network.”
Shahebaz Khan, Visa’s General Manager for UAE, said: “We’ve been the exclusive payments partner of the Middle East Banking Forum for the past several years, and we continue to see it as a great platform for us to engage with key industry players and to share with them our insights on the region’s digital payments landscape. I had the opportunity to share some interesting facts about the banking and payment preferences of millennials and how we can work with banks to attract and retain this fast-growing, large population segment as customers. At Visa, we are committed to collaborating with key industry stakeholders and partners such as the UAE Banks Federation to support the growth of the region’s banking and digital payments ecosystem.”
The event also featured other renowned experts and speakers participating across five engaging sessions: ‘The Future of Finance - Banks versus Big Tech’; ‘The Next Stage of Evolution for the Global Islamic Finance Industry’; ‘Banking for Millennials - A roadmap to Loyal Customers’; and ‘Managing Risk in a Digital World’.
In addition, a competition for the best innovative and creative banking ideas entitled ‘Wild Idea?’ was held in which young entrepreneurs with wild ideas discussed how the industry needs to change for the benefit of all stakeholders.
The forum included two side activities for Mustafa Al Nashawy, Professor of Calligraphy Art at the Department of Culture; and Maitha Alattar, a local artist who specializes in live, interactive art involving audiences.
A special interval during the Middle East Banking Forum was taken to commemorate UAE Flag Day, with all 500 participants taking a moment to celebrate the country's past, present, and future, and remember the efforts of the founders of UAE.
Middle East Banking Forum official prestigious banking sponsors are: First Abu Dhabi Bank (FAB) as the gold sponsor; Emirates NBD, Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank(ADIB), Commercial Bank of Dubai (CBD), Bank of Sharjah (BOS), and Bank Of Khartoum (BOK) are the lead banking silver sponsors; Visa is the exclusive payments partner; Al Suwaidi & Co is the associate sponsor; Sky News Arabia is the regional Broadcast Partner; and CNBC Arabia is the official Business broadcaster.
For the latest updates from the Middle East Banking Forum, please visit: www.middleeastbankingforum.com v
-Ends-
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.
About First Abu Dhabi Bank (FAB)
FAB, the UAE’s largest bank and one of the world’s largest and safest institutions, offers an extensive range of tailor-made solutions, and products and services, to provide a customised experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.
Headquartered in Abu Dhabi in Khalifa Business Park, the bank’s international network spans five continents, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad.
In line with its commitment to put customers first, to Grow Stronger, FAB will continually invest in people and technology to create the most customer-friendly banking experience, and will support the growth ambitions of its stakeholders across countries in which the bank operates.
To empower its customers and clients to Grow Stronger, FAB initiated a powerful movement, which goes beyond banking. The Grow Stronger movement represents the bank’s promise to support its stakeholders’ goals and growth ambitions, providing ideas, tools and expertise to help them become stronger, today and in the future.
With total assets of AED 788 Billion (USD 214 Billion) as of September-end 2019, FAB is rated Aa3/AA-/AA- by Moody’s, S&P and Fitch, respectively, the strongest combined ratings of any bank in the MENA region. The Bank has been ranked by Global Financeâ as the safest bank in the UAE and the Middle East. The Banker Magazine, has named FAB as the second largest bank in the Middle East by Tier 1 Capital in its Top 1000 World Banks 2019 ranking. FAB is well positioned to unlock the full potential of a unified bank with a strong focus on customer experience, digitisation and continued growth, as we enter the next phase of our journey to grow stronger.
For further information, visit: www.bankfab.com
© Press Release 2019Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
