The UAE Banks Federation has approved the banking sector strategy for 2023.
The plan includes Emiratisation, with the goal of employing 5,000 UAE nationals by 2026, and working with the Emirates Institute of Banking and Financial Studies (EIBFS) to design a training program to prepare future banking and financial sector leaders.
The UAE Banks Federation annual general meeting was chaired by chairman, Abdulaziz Al Ghurair.
UAE Banking strategy
Federation members approved the minutes of the AGM, along with the audited financial statements and the auditors’ report for 2022.
The Board of Directors was absolved of any liabilities arising from their duties for the financial year ending 31st December 2022, and the auditors for 2023 were appointed.
The AGM approved the objectives and strategic plans for 2023 presented by the UAE Banks Federation Board of Directors, which aim to develop the banking sector and strengthen its position under the supervision of the Central Bank of the UAE.
The Federation’s initiatives in the past year were commended, particularly the national anti-fraud campaign, which helped to raise customer awareness and strengthen confidence in the banking and financial sector.
The AGM also highlighted the valuable efforts of the Federation in advancing cybersecurity, increasing the level of security and protection of digital infrastructure, and providing banking services to support small and medium enterprises.
The participants praised the role of the UBF General Secretariat in strengthening cooperation with banking associations and federations in friendly countries, enabling dialogue and knowledge sharing.
They also commended the role of the General Secretariat in expanding membership by adding more regional, international, and digital banks operating in the country, contributing to increased cooperation among all banks and financial institutions under the Federation, which now has 58 members.
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