UAE Banks Federation CEO Advisory Council holds first…

Abu Dhabi, United Arab Emirates:

On 21 March 2023, under the auspices of His Excellency Mohammad Omran Al Shamsi, Vice-Chairman and Chairman of the UAE Banks Federation, the CEO Advisory Council of the UAE Banks Federation convened as the representative and unified voice of the UAE banking sector The first meeting of the year, the CEO Advisory Council meeting, was attended by CEOs and managing directors of member banks operating in the UAE.

The meeting discussed developments in the banking and finance sector, the federation’s plans for the year, and the progress made by the council since its inception in accordance with the decisions of the UAE Banks Federation General Assembly and Board of Directors.

Participants called on the Federation of UAE Banks to continue its efforts under the direct supervision and guidance of the UAE Central Bank to maintain the highest levels of governance, transparency and risk management in the sector. They commended the Commonwealth’s ongoing initiatives to combat fraud and advance the banking industry’s digital infrastructure to ensure safe and smooth banking services.

The CEO Advisory Council welcomes the participation of Hatem Masmoudi, Chief Executive Officer of Credit Agricole Bank Emirates, along with other members of the Council to broaden participation in decision-making and support the role of the Federation of UAE Banks in the development of the financial and banking sector in the country.

Council members reviewed the programs and themes for specialized seminars and conferences that the Federation intends to organize in the coming period as part of its annual program to keep pace with the rapid developments in the banking and financial sector, to ensure its members adopt the best banking practice, and emphasized the importance of coordinating with federal committees to advance their work.

Mr. Jamal Saleh, Director General of the UAE Banks Federation, outlined the plans and initiatives that the UAE Banks Federation plans to implement in 2023 to consolidate the UAE’s leadership in banking and finance and to develop, implement and follow the latest systems and policies, especially It’s in terms of compliance, governance and transparency.

HE Al Shamsi said: “We applaud the tireless efforts of the Consultative Committee in cooperation with the Federation’s Advisory Board and Board of Directors in developing the banking sector and its plans for the year, as well as the Federation’s strengthening and Sign a memorandum of understanding with organizations such as the Turkish Banking Association to establish banking associations in brotherly and friendly countries to strengthen cooperation and exchange of experience to support the financial and banking industry.”

He commended the efforts of the Federation of UAE Banks last year (2022) under the supervision of the Central Bank of the UAE to promote Emiratisation and the adoption of the Emiratisation program in the banking and financial sector, which aims to employ 5,000 people in banks and banks. Emirates National Insurance Coordinates with financial institutions and banks operating in the country by 2026 to strengthen the base of UAE nationals working in banks and insurance companies.

Mr. Jamal Saleh, Director General of the Federation of UAE Banks, said: “The CEO Advisory Council supports the efforts of the Federation UBF and its General Secretariat to fulfill its mission by sharing experience and knowledge as it collaborates with the Advisory Council and the Board of The bank’s guidelines, initiatives to drive innovative solutions to meet the needs of customers and the achievements of the country’s banking and financial sector.

It is worth mentioning that the establishment of the CEO Advisory Committee and the CEO Advisory Committee complement each other, enabling the CEOs of member banks to express their opinions, benefit from their rich experience, and deepen the basis for participation in decision-making. The Advisory Council is an important pillar of the Federation along with the Chief Executive Advisory Council, which has represented the banking industry at its best since its inception 11 years ago. The two councils provide a consultative platform to discuss issues related to the banking sector and take decisions that strengthen the role of the UAE Banks Federation in supporting the development of the UAE banking sector and the overall economic development of the country.

United Arab Emirates Banking Federation (UBF):

Established in 1982, the UAE Banks Federation (UBF) is a professional representative body comprising 57 members of banks and organizations operating in the UAE. UBF advocates for the interests of all its members and strengthens cooperation and coordination among them to elevate the banking ecosystem in the UAE for the benefit of members, customers and the UAE economy as a whole.

UBF’s mission and goals are focused on representing and defending its members. UBF provides a platform for its members to collaborate, exchange ideas and expertise, and play 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 Council, comprising CEOs and managing directors of member banks and institutions, who oversees the implementation of UBF’s policies and activities. The CEO Council also, through UBF’s General Secretariat, makes directed decisions for UBF’s 25 technical committees and 3 advisory committees, which are tasked with discussing all issues related to the UAE’s banking and financial services ecosystem. The UAE Banks Federation also includes an Advisory Council, which is made up of CEOs from other member banks.