The CEOs Consultative Council of UAE Banks Federation (UBF), the umbrella body representing banks operating in the UAE, has reviewed the developments and challenges the banking sector faces locally and globally and discussed the ways to address them.
In its first meeting held on Monday, the apex body also discussed its plans for 2022 and beyond, and its upcoming initiatives in line with Central Bank of the UAE (CBUAE) directives.
The meeting, held under the chairmanship of Mohammad Omran Al Shamsi, vice chairman of UBF and chairman of RAK Bank, was attended by CEOs of UBF member banks.
The CEOs Consultative Council was established as per the resolutions of UBF General Assembly meeting and Board of Directors meeting, held in December 2021 and April 2022, to complement the CEOs’ Advisory Council.
The newly established council is to provide a broader platform for CEOs of member banks to share their opinions, benefit from their experiences, and widen decision-making bases.
The Council extends support to UAE Banks Federation and the CEOs’ Advisory Council.
The two councils will be a comprehensive advisory platform on various topics that contribute to the progress of the financial and banking sector and the UAE economy in general.
Al Shamsi briefed members about the Council’s operating model and rationale behind establishing it, and also explained the coordination of efforts between the two before presenting UBF initiatives to the respective bodies in the country.
Al Shamsi also underlined the CEOs Consultative Council’s important role in enabling member banks to build a competitive and sustainable banking ecosystem that supports the socio-economic development of the UAE.
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