UAE Banks Federation approves 2023 strategy for banking sector development

UAE Banks Federation approves 2023 strategy for banking sector development

ABU DHABI, 28th April, 2023 (WAM) – The UAE Banks Federation (UBF) recently held its annual general meeting, chaired by Abdulaziz Al Ghurair, the Chairman of the Federation. During the meeting, the members approved the minutes of the Annual General Meeting held on 26th April 2022, 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 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 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