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Abu Dhabi, United Arab Emirates – The UAE Banks’ representative body and unified voice The UAE Banks Federation CEO Advisory Committee recently held its second meeting chaired by His Excellency Mohamed Omran Al Shamsi, Vice Chairman of the Board, Chairman of the UAE Banks Federation and RAK Chairman of the Bank.
The meeting discussed the Council’s strategy and plans to deepen its involvement in decision-making to support the role of the UAE Bank Federation in the development of the UAE banking and financial sector. Participants also discussed working with the federation’s various committees to advance their work, as well as efforts to ensure the highest levels of governance and transparency in the sector.
The Advisory Committee, established in response to the decision of the UAE Bank Federation General Assembly and Board of Directors at its December 2021 and April 2022 meetings, has assessed the emirateisation strategy and plans for the country’s banking and financial sector, as well as the Federation’s ongoing implementation. The programme aims to enhance the skills and qualifications of Emirati youth to enable them to take on leadership roles in the industry.
The CEOs present discussed the plans and themes of the training and technical conferences that the UAE Federation of Banks plans to organise in the coming period to keep up with the rapid developments in the banking and financial sector to ensure the adoption of best banking practices.
In addition, the meeting discussed the National Fraud Awareness Campaign, which for the third year in a row has successfully raised public awareness of the dangers of fraud over the past two years, especially in light of e-commerce, banking and digital transactions. Additionally, the meeting discussed plans for cyber wargaming as part of the Federation’s efforts to promote cybersecurity and best practices to increase the level of security and protection of digital infrastructure, as well as strengthen collaboration with the Departments of Justice and Cybersecurity. Security Council.
During the meeting, Mr. Jamal Saleh, Director General of the UAE Bank Federation, outlined the plans and initiatives carried out by the Federation this year, the last quarter of the year, and the initiatives to be implemented in cooperation with various institutions in the country under the supervision of the UAE Central Bank. Through these initiatives, the UAE Banking Federation supports the UAE banking and financial sector’s progress in developing, implementing and adhering to the latest systems and policies, especially those related to compliance, governance and transparency.
His Excellency Mohammed Omran Al Shamsi, Vice-Chairman of the UAE Bank Federation and Chairman of the Advisory Committee, said: “The discussions at the second meeting of the Council reflect the commitment of the participating CEOs to support and strengthen the role of the UAE Bank Federation by exchanging experience and knowledge, And the Council to strengthen cooperation and coordination with the various committees under the Federation.”
His Excellency added: “The Advisory Committee, in collaboration with the UAE Bank Federation Advisory Committee and Board of Directors, and under the ongoing guidance and collaboration of the UAE Central Bank, is committed to developing innovative solutions that meet the needs of clients. An integrated system of interests.”
The establishment of the CEO Advisory Council complements the Advisory Council, enabling the CEOs of member banks to speak out, benefit from a wealth of experience, and deepen the basis for participation in decision-making. The Advisory Council is an important pillar of the Commonwealth and, together with the Chief Executives Advisory Council, has best represented the banking industry since its inception a decade ago.
The two committees provide an advisory platform to discuss banking-related issues and make decisions to strengthen the role of the UAE Bank Federation in supporting the development of the UAE banking sector.
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About the United Arab Emirates Banks Federation (UBF):
The United Arab Emirates Banks Federation (UBF) was established in 1982 as a professional representative body comprising 56 member banks and financial institutions operating in the UAE. UBF advocates for the interests of all members and enhances cooperation and coordination among members to enhance the UAE’s banking ecosystem for the benefit of members, clients and the entire UAE economy.
UBF’s mission and goals focus on representing and defending its members. UBF provides a platform for collaboration and exchange of ideas and expertise among its members, and plays an important role in raising public awareness of the contribution of the UAE banking sector to the country’s economic and social development.
UBF has a 22-member Advisory Board and a 25-member Advisory Board comprised of the CEOs and Managing Directors of member banks and financial institutions. These two committees oversee the implementation of UBF policies and activities and make directional decisions through the UBF General Secretariat, while 25 technical committees and 3 advisory committees discuss all issues related to the UAE banking and financial services ecosystem.
For more information please contact:
Lee Soo Hyun
federation of uae banks
sooyin@uaebf.ae
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