The CEOs Advisory Council of the UAE Banks Federation is currently evaluating plans and initiatives to drive forward positive and impactful change within the industry.

The CEOs Advisory Council of the UAE Banks Federation (UBF) held its second regular meeting in 2024. Abdulaziz Al-Ghurair, Chairman of the Board of Directors of UAE Banks Federation, chaired the meeting. The council discussed the latest advancements and key developments in the banking and finance sector, reviewed the progress in implementing initiatives, and talked about plans to achieve the Federation's strategic goals for the year.

The meeting praised the achievements of the banking sector and the initiatives implemented by the Federation to improve banking services for various customer segments. Abdulaziz Al-Ghurair highlighted the effectiveness and success of the UAE Central Bank's strategies and policies in creating a conducive environment for the banking and financial sector to thrive.

The participants emphasized that the strong performance of the banking sector is a catalyst for sustained growth. They highlighted that the banking sector's total assets exceeded AED4.25 trillion at the end of the first quarter of the year, reflecting high confidence levels.

The CEOs Advisory Council called for redoubling efforts to achieve the Federation’s strategic priorities, focusing on Emiratisation in the banking and financial sector, sustainability and governance, enhancing financial inclusion, and supporting small and medium enterprises.

Additionally, the meeting emphasized the importance of accelerating digital transformation, improving cybersecurity, and raising awareness on financial crime and combating advanced fraud methods to ensure security in the sector.

The meeting also highlighted the role of the UAE Banks Federation in consolidating the integrity of the financial system by ensuring compliance with laws, regulations, and supervisory guidelines, as well as adherence to the highest standards of corporate governance, transparency, and risk management under the direct supervision of CBUAE.

Jamal Saleh, Director-General of UBF, expressed the commitment to strengthen cooperation with all strategic partners in the country to further develop and keep pace with the rapid advancements in the sector while ensuring adherence to the highest standards of regulations and compliance. He also emphasized the important role played by the CEOs Advisory Council in supporting the Federation's initiatives and plans to develop the banking sector and provide appropriate services and products to customers to support the UAE in achieving its development and economic goals.