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 bandied the rearmost developments in the original and global banking and fiscal sector for the once quarter( April to June 2022). The virtual meeting also bandied UBF’s perpetration of judgments espoused in the CEOs Advisory Council meeting of March 2022.
Abdulaziz Al Ghurair, Chairman of UAE Banks Federation, blazoned forming of a alternate council named the CEOs Consultative Council, which comprises CEOs of banks that weren’t members of the CEOs Advisory Council; the new Council was created in order to take a much broader view from its member banks ’ CEOs. coincidently, a many members from the Advisory Council, established over 10 times agone , were moved to the ‘ Consultative Council ’ with the ideal of aiding the Council’s Chairman to lead the way forward with their moxie gained while serving the Advisory Council. Meanwhile, a many CEOs were added to the CEOs Advisory Council to insure both councils maintain sufficient diversification in representation.
The CEOs Consultative Council will be chaired byH.E. Mohammad Omran Al- Shamsi, Chairman of RAKBANK and Vice Chairman of UBF, whereas CEOs Advisory Council will continue to be led byH.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 bandied numerous important motifs and developments, particularly the nonstop cooperation with the Central Bank of the UAE. Members further bandied the meetings of UBF’s technical specialized panels assigned with enhancing the banking sector through espousing stylish practices and enhancing banks ’ programs.
CEO’s Advisory Council’s members also lauded the nonstop 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 unborn banking leaders.
Jamal Saleh, Director General of UAE Banks Federation, briefed the attendees on the lately- hosted regale meeting withH.E. Wally Adeyemo, Deputy Secretary ofU.S. Treasury and his coexisting delegation from the Department ofU.S. Treasury andU.S. Consulate and Embassy in the UAE, with the CEOs of several UBF member banks. The regale meeting bandied several critical motifs, including threat operation and procedures developed to cover from colorful pitfalls and challenges, as well as the progress made by UAE banks in enforcing Central Bank of the UAE’s directives to increase the effectiveness ofanti-money laundering systems.H.E. Adeyemo confided the way accepted by UAE Banks Federation in reducing the pitfalls faced at UAE banks.
¬ ¬ The Advisory Council also reviewed the conditioning and enterprise of UAE Banks Federation, including those in wealth operation, publicanti-fraud crusade, compliance with professional and ethical values while carrying out fiscal deals by all member banks, relinquishment of responsible lending programs, and perpetration of banking mindfulness 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 stylish 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 underscored the significance of similar gatherings as they contribute to expanding and accelerating the decision- making process in order to insure a safe and probative 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 transnational banks and fiscal 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.