UBF CEOs Advisory Council Meeting Explored Initiatives to Promote the Countrys Real Estate Sector and Boost Financing for SMEs

Business

UBF CEOs Advisory Council Meeting Explored Initiatives to Promote the Countrys Real Estate Sector and Boost Financing for SMEs

The CEOs Advisory Council of the UAE Banks Federation (UBF) hosted its 3rd conference this year in Dubai today (September 19, 2018) to discuss the latest advancements in the financial sector in the UAE and outline the federation's top priorities according to the nationwide program to promote the nation's economy. Chaired by H.E. Abdul Aziz Al Ghurair, Chairman of UBF, the meeting checked out campaigns to advertise the regional real estate market and also increase financing for small as well as medium enterprises(SMEs).

" The UAE's economiy is set to go into the following stage of development driven by its durable and also resilient sectors as well as markets. As key sectors of the economy, realty and SMEs hold brilliant leads for future growth, and with the support of the banking market, we can contribute to accomplish the tactical purposes of promoting international straight financial investments and improving company in the country" stated H.E. Abdul Aziz Al Ghurair, Chairman of UAE Banks Federation.

" As an organization representing the banking industry in UAE, we are eager to sustain the nation's initiatives in improving financial and economic growth, by considering brand-new efforts to advertise property home mortgage financing and also urge funding to SMEs." included Al Ghurair. Identifying the real estate field, which made up 6.9% of the UAE's gross domestic product (GDP) in 2017, as an essential sector in the nation's economy, the Chief executive officers Advisory Council applauded UBF's campaigns targeted at sustaining the neighborhood home mortgage market. The council additionally put forth a set of recommendations to improve home mortgage laws to encourage domestic home loan financing.

Among the topics of Chief executive officers Advisory Council's agenda was the evaluation of the progress made by UBF in its initiatives to advertise funding for SMEs, which add greater than 60% of GDP of the UAE. The federation continues to hold consultatory meetings with the Reserve bank of the UAE and also various other stakeholders to improve SMEs accessibility to fund. In the past, UBF has presented several steps to the assistance the SMEs field, including the Modus Operandi rescue effort for companies experiencing payment troubles.

The meeting also complimented the federation's participant banks for having achieved the Emiratization targets specified in the UAE's federal nationalization strategy. The council acknowledged that the outstanding achievement was a result of the financial institutions' unrelenting commitment to understanding the vision of the nation's leadership.In addition, the participants of the council were given an upgrade on the progress of UBF's annual event Middle East Banking Forum 2018, among the top financial seminars in the region.

The council also accepted the discussion forum's program and also theme, Banking 10 years from now. Ready to occur on 11 November, 2018 at The Westin Dubai Al Habtoor City in Dubai, the online forum will feature a stellar line-up of audio speakers as well as will collect more than 400 senior execs as well as authorities from banks, monetary regulatory authorities, government entities, consultancies, technology companies, law practice and other organizations to discover the future and discuss the challenges and possibilities facing the industry.