UAE Banks Federation AGM approves 2023 strategy to develop banking sector and enhance its leading position

UAE Banks Federation AGM approves 2023 strategy to develop banking sector and enhance its leading position

Abu Dhabi, United Arab Emirates: UAE Banks Federation (UBF), the unified representative and voice of the UAE banks, recently held its annual general meeting (AGM) under the chairmanship of H.E. Abdulaziz Al-Ghurair, Chairman of the Federation. The meeting was attended by the members of the Board of Directors and representatives of the member banks.

At the meeting, the members approved the minutes of the Annual General Meeting held on 26 April 2022, the audited financial statements and the auditors' report for 2022. The General Meeting also absolved the Board of Directors from liabilities arising from their duties for the financial year ending 31 December 2022 and appointed the auditors for 2023.

The AGM also approved the objectives and strategic plans for 2023 presented by the UAE Banks Federation Board of Directors, which aim to further develop the banking sector and strengthen its position under the supervision of the Central Bank of the UAE. The objectives of the plan include strengthening Emiratisation in line with the UAE banking sector's goal of employing 5,000 UAE nationals by 2026 to increase Emirati participation in the banking and financial sector. To this end, UAE Banks Federation plans to work with the Emirates Institute of Banking and