UBF CEOs Advisory Council Discusses key Initiatives and Latest Developments in the Banking Sector
The Chief Executive Officers Advisory Council of the UAE Banks Federation (UBF), a professional depictive body making up 49 member banks running in the UAE, hosted its very first conference of the year in Dubai today (March 5, 2018), to go over UBF key initiatives and latest developments in the banking market. The conference was chaired by HE Abdul Aziz Al Ghurair.
HE Abdul Aziz Al Ghurair, Chairman of the UAE Banks Federation said: "The UAE's banking market, which is still leading the region in possessions and competition, done well in 2017 despite the challenges, showcasing reasonable productivity, comfy liquidity, security and great growth. With the support of member financial institutions. CEOs and UBF 20 multi-disciplinary technical committees, we have actually been able to produce and sustain a healthy and balanced and effective business environment and are confident that the banking industry will certainly continue with very same course of development in 2018.".
" The Chief Executive Officers Advisory Council is main to the federation and has a major role in charting the program of the banking industry in the UAE. To remain appropriate in business, the council continuously keeps track of banking, financial, and governing advancements in the country and appropriately create plans and initiatives to make it possible for banks by getting hold of chances, getting over obstacles, and taking care of risks, play their key function in adding to the economic growth and social wellness and joy of the board.
While discovering our priorities for 2018, we deliberated over the roll-out of VAT in the banking market, to name a few subjects, and discussed means and implies to make sure smooth and efficient implementation by the banks". HE Al Ghurair included.
Highlights of the meeting included a presentation by Mr. Khaled Sifri, Chief Executive Officer of Emirates.
Investment bank, and Chairman of UBF Wide Range Administration Group (WMG), where he detailed UBF WMG's efforts and primary required to promote UAE as a global exclusive banking and wide range monitoring hub for the advantage of banking industry, customers, and the nationwide economic situation. He likewise informed the council on the SCA licensing requirements for advertising investments and using monetary assessment solutions. Mr. Zubair Ahmed, Chairman of UBF's IT Board, highlighted the new initiatives that will be taken by the committee to establish an industry-wide framework to assess the business and social value created by significant IT vendors running in the UAE.
