(MENAFN- Mid-East Info)

The CEOs Advisory and Consultative Councils of the UAE Banks Federation UBF, the sole representative and unified voice of UAE banks, held their quarterly meetings. Chaired by His Excellency Abdul Aziz Al-Ghurair, Chairman of UBF and the Advisory Council, and H.E. Mohammed Omran Al Shamsi, Vice Chairman of UBF and Chairman of the Consultative Council, the meetings reviewed the banking and financial sector's performance in the first half of the year and discussed the progress made in implementing UBF's initiatives to support the development of the banking and financial sector.

The CEOs reaffirmed the priority placed on enhancing Emiratisation in the banking sector and the importance of continuing to implement talent and human capital development strategies, building on the achievements of UBF member banks in 2024, where targets were exceeded. Participants also emphasised the need to enhance efforts to promote financial inclusion, expand access to financial services, and empower women in line with the“Mother of the Nation 50:50 Vision” to strengthen women's role over the next fifty years.

The CEOs Advisory and Consultative Councils also confirmed member banks' commitment to supporting initiatives of the Financial Infrastructure Transformation Programme, launched by the Central Bank of the UAE (CBUAE) in 2023 to accelerate the digital transformation of the financial industry, enhance inclusion, and support safe and effective innovation in payments. This is supported by advanced supervisory solutions and data management frameworks, contributing to financial stability.

The Councils commended the initiatives of the UBF General Secretariat in strengthening collaboration with various strategic partners, organisations, and stakeholders to exchange expertise and knowledge, as part of its efforts to advance banking performance and standards, adopt best practices, and reinforce the UAE's position as a global financial and banking hub.

Participants praised the successful bid by the UAE to host Sibos 2029, the world's leading financial services event organised by SWIFT, reaffirming the sector's commitment to work closely with strategic partners and in full coordination with the Central Bank of the UAE to ensure the success of this prestigious event.

H.E. Abdul Aziz Al-Ghurair, Chairman of UBF, said:“The UAE banking and financial sector has strengthened its leading status by focusing on achieving sustainable development goals and meeting the needs of diverse economic sectors and different segments of the society, under the direct supervision of the Central Bank of the UAE. This progressive approach has driven women's empowerment, advanced Emiratisation in banking and finance, and reinforced financial inclusion.”

H.E. added:“In the first half of this year, financial results confirmed the sector's strength, resilience, and ability to adapt to the profound transformations shaping the global economy. UBF member banks delivered healthy profitability while maintaining high levels of financial soundness, capital adequacy, liquidity, and reserves. This has reinforced the sector's leading position regionally and globally, further cementing the UAE's position as a financial hub. The selection of Dubai to host Sibos demonstrates global confidence in the UAE's leading role in driving innovation in financial sector and payments.”

H.E. Mohammed Omran Al Shamsi, Vice Chairman of UBF, said:“At UBF, we are committed to providing effective platforms for knowledge exchange to leverage rapid technological advancements and digital transformation, while strengthening cybersecurity, and enhancing measures to combat financial crimes and fraud, in close cooperation with the Central Bank of the UAE.”

Mr. Jamal Saleh, Director General of UBF, said:“The achievements of the UAE banking sector in recent years serve as a foundation and motivation to continue advancing the industry's development, cementing the UAE's position as a leading financial centre characterised by compliance, robust governance, transparency, and sound risk management. The Advisory and Consultative CEO Councils are vital to this progress, as they bring together top leaders to design innovative initiatives and programmes that deliver a seamless and secure banking experience for customers.”

The CEOs participating in both meetings reaffirmed their banks' commitment to achieving the UAE's strategic goals. They praised the sector's performance in the first half of the year and the support provided by the Central Bank of the UAE through the development of frameworks and policies aimed at safeguarding financial stability, strengthening monetary and supervisory regulations, and enhancing banking, financial, and insurance sectors.

The CEOs Advisory and Consultative Councils reviewed steps taken by UBF to implement its 2025 strategy to advance the financial and banking sector. They stressed the importance of continuing efforts and initiatives in support of Emiratisation, sustainability, governance, financial inclusion, and SME development, in line with the Central Bank of the UAE's directives.

About UAE Banks Federation UBF:

Established in 1982, UAE Banks Federation UBF, the sole representative and unified voice of UAE banks, comprising 64 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.

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