UBF BoD welcomes the recent laws and egulations Released
The Board of Supervisors of the UAE Banks Federation (UBF) held its conference and also talked about the current developments in the UAE's banking sector along with development of key Efforts and tasks.
Chaired by H.E. AbdulAziz Al Ghurair, Chairman of the UAE Banks Federation, the BoD commended the recent laws and also policies issued mainly the netting regulation, Public financial obligation law, AML, and central bank regulation, in addition to Threat administration and interior audit and control and Dormant accounts guidelines, highlighting the favorable effect it will have on the financial and also financial industry along with the national economic situation. The BoD expressed comfort with the robust efficiency of the financial industry as mirrored in the solid vital economic signs sustained by economy growth.
The BoD likewise assessed progression on current essential initiatives generally "Tasharuk" (cyber threats intelligence sharing platform), Ethical Selling practices and customer complaints handling frameworks, as well as digital Budget valuing collaboration of financial institutions for fostering and assistance. Even more, the BoD commended bank sustain to the nationalization technique as well as SMEs finance, and also supported future UBF s strategies as well as efforts on Digital transformation, blockchain, and fintechs. The BoD reviewed other topics on agenda and also took essential decisions on very same.
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