Abu Dhabi, United Arab Emirates – 14 July 2022:
During its alternate meeting for the time 2022, held on June 21st, UAE Banks Federation( UBF)’s CEOs Advisory Council mooted the bottommost developments in the original and global banking and financial sector for the formerly quarter( April to June 2022). The virtual meeting also mooted UBF’s performance of judgments espoused in the CEOs Advisory Council meeting of March 2022.
Abdulaziz Al Ghurair, Chairman of UAE Banks Federation, announced forming of a alternate council named the CEOs Consultative Council, which comprises CEOs of banks that were not members of the CEOs Advisory Council; the new Council was created in order to take a much broader view from its member banks ’ CEOs. concurrently, a numerous members from the Advisory Council, established over 10 times agone, were moved to the ‘ Consultative Council ’ with the ideal of abetting the Council’s Chairman to lead the way forward with their moxie gained while serving the Advisory Council. Meanwhile, a numerous CEOs were added to the CEOs Advisory Council to ensure both councils maintain sufficient diversification in representation.
The CEOs Consultative Council will be chairedbyH.E. Mohammad Omran Al- Shamsi, Chairman of RAKBANK and Vice Chairman of UBF, whereas CEOs Advisory Council will continue to be ledbyH.E. Abdulaziz Al- Ghurair, Chairman of Mashreq Bank and Chairman of UBF Board of Directors.
The new members to join UBF’s CEOs Advisory Council includeMr. Ahmed Al Naqbi, CEO of Emirates Development Bank;Mr. Firas Darwish, CEO of Arab Bank- UAE;Mr. Waleed Hassan/Mr. Khaled Abbas, Gulf International Bank- UAE; andMr. Omar Wehbe, CEO of Al- Ahli Bank of Kuwait- UAE. The meeting also salutedMr. Shirish Bhide, the new CEO of United Arab Bank.
During the meeting, the Advisory Council mooted multitudinous important motifs and developments, particularly the continuous cooperation with the Central Bank of the UAE. Members farther mooted the meetings of UBF’s specialized technical panels assigned with enhancing the banking sector through espousing swish practices and enhancing banks ’ programs.
CEO’s Advisory Council’s members also lauded the continuous and coordinated sweats made by the Central Bank of the UAE, with complete support from UBF and its members, to increase the pace of Emiratisation in the sector through enhancing the chops and qualifications of Emirati youth and future banking leaders.
Jamal Saleh, Director General of UAE Banks Federation, briefed the attendees on the recently- hosted dinner meetingwithH.E. Wally Adeyemo, Deputy SecretaryofU.S. Treasury and his coinciding delegation from the DepartmentofU.S. TreasuryandU.S. Consulate and Embassy in the UAE, with the CEOs of several UBF member banks. The regale meeting mooted several critical motifs, including trouble operation and procedures developed to cover from various risks and challenges, as well as the progress made by UAE banks in administering Central Bank of the UAE’s directives to increase the effectiveness ofanti- plutocrat launderingsystems.H.E. Adeyemo commended the way accepted by UAE Banks Federation in reducing the risks faced at UAE banks.
¬ ¬ The Advisory Council also reviewed the exertion and enterprise of UAE Banks Federation, including those in wealth operation, publicanti- fraud campaign, compliance with professional and ethical values while carrying out financial deals by all member banks, handover of responsible lending programs, and performance of banking awareness programs that give guests with a comprehensive view of the nature of their relationship with banks. The CEOs Council also meditated on enhancing cyber security and following swish practices to raise the safety and protection of digital baking structure via, among other way taken, cyber wargaming.
His Excellency Abdulaziz Al- Ghurair thanked the actors in the meeting and underlined the significance of analogous gatherings as they contribute to expanding and accelerating the decision- making process in order to ensure a safe and supportive banking terrain for the overall profitable and social development in the UAE.
The CEO Advisory Council, established 10 times agone, has 22 members and includes the Chief directors of original and international banks and financial institutions operating in the UAE. The Council constitutes a exemplary platform to bandy banking- related issues and take opinions that are in the interest of the banking sector, to enhance UBF’s part in supporting the development of the banking process in the UAE.
UAE Banks Federation (UBF):
Established in 1982, UAE Banks Federation (UBF) is a professional representative body comprising 54 members of banks and organizations operating in the UAE. UBF advocates the interests of all its members and enhances cooperation and coordination between them in order to elevate 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 exchange of ideas and expertise among its members, and plays a major 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 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 25 technical and 3 advisory committees, who in turn are tasked to discuss all issues relevant to the UAE banking and financial services ecosystem.