UAE Banks Federation confirms sector’s strength, ability to continue growing

UAE Banks Federation confirms sector’s strength, ability to continue growing

ABU DHABI: Chairman of the UAE Banks Federation, Abdulaziz Al Ghurair, said that the UAE banking and financial sector has successfully addressed the numerous geopolitical and economic developments and changes that over the recent years have posed challenges to the global economy.

He made the statements as he addressed the fourth meeting held by the CEOs of the Advisory Council of UAE Banks Federation on the 29th of November under his chairmanship.

The meeting discussed the latest developments in the banking and finance sector locally and globally, followed up on the implementation of the decisions taken at the last meeting in September, and discussed the Federation’s plans for 2023.

“The world has witnessed numerous geopolitical and economic developments and changes in recent years that have posed challenges to every economic sector. Under the direct supervision of the Central Bank of the UAE, the UAE banking and financial sector has been able to demonstrate its resilience in dealing with these challenges and has continued to provide the best services to customers and play its role in creating appropriate conditions for achieving economic and social development, while adhering to international standards in governance and risk management,” Al Ghurair said.

During the meeting, all participants commended the