UBF Discusses Plans To Develop Banking, Financial Industry – UrduPoint
ABU DHABI, (UrduPoint News / WAM – 17th Apr, 2025) The CEOs Advisory Council of the UAE Banks Federation (UBF), the sole representative and unified voice of UAE banks, recently convened to assess the banking and financial sector’s performance during 2024 and explore future plans and developments for 2025. The meeting was chaired by Abdulaziz Al-Ghurair, Chairman of UBF.
The Council lauded the robust performance and achievements of the banking sector in 2024, navigating under the guidance of the Central Bank of the UAE (CBUAE). The sector’s efforts significantly supported the national economy’s growth by establishing the vital frameworks needed to ensure financial stability, fortify monetary and regulatory legislation, and enhance the financial, banking, and insurance sectors.
Al Ghurair highlighted that the banking and financial sector is consistently evolving and reaffirming its leading position as the largest sector in the Middle East, with total assets rising by 12 percent over the past year to AED4.56 trillion. This milestone reflects CBUAE’s effectiveness in fostering growth within the banking and financial sector, driving both economic and social development, and solidifying the UAE’s position as a global financial hub.
Expressing pride, Al Ghurair remarked on the remarkable growth shown by UAE banks in promoting Emiratisation. Financial and banking institutions surpassed set targets, achieving a growth of 152.9 percent and employing 2,866 Emiratis during 2024. This underscores that Emiratisation remains a top priority for UBF.
Al Ghurair reaffirmed the banking sector’s unwavering commitment to achieving the UAE’s strategic objectives. He applauded the CEOs Advisory Council, which comprises banking leaders with extensive expertise, for their decisive role in UBF’s decision-making. The Council prioritizes ensuring a seamless and secure banking experience for customers across the UAE.
During the meeting, the CEOs Advisory Council outlined UBF’s strategic plans for 2025 aimed at developing the banking and financial sector while maintaining its leading stature. The discussions emphasized the significance of ongoing efforts to support key areas such as Emiratisation, sustainability, governance, financial inclusion, and support for small and medium-sized enterprises (SMEs), all in line with CBUAE’s directives.
The meeting further delved into the latest trends and initiatives designed to stay ahead of rapid global economic developments, digital transformation, and digital infrastructure enhancement plans. It underscored the critical need to bolster cybersecurity measures, increase awareness of financial crimes, and combat sophisticated fraud methods. Emphasizing adherence to laws and regulations, the Council stressed the importance of doubling efforts to ensure compliance with supervisory guidelines and uphold the highest standards of governance, transparency, and risk management.
Jamal Saleh, Director-General of UBF, commented on the continuous robust performance of the banking and financial sector, which affirms the UAE’s esteemed status as an economic powerhouse and a leading financial and banking centre. This standing is underpinned by the direct supervision of CBUAE, which formulates the appropriate frameworks for the sector to play its pivotal role in both economic and social development, ensuring a seamless and secure banking experience that aligns with customer requirements and aspirations.
Saleh also reiterated UBF’s commitment to ongoing development while maintaining the highest adherence to compliance regulations and policies. The objective is to sustain an advanced banking system characterized by its resilience, robustness, and ability to adapt to the continuous changes and developments within the global economy.
