The UAE Banks Federation (UBF) recently held its annual general meeting, chaired by Abdulaziz Al Ghurair, the Chairman of the Federation.
The members of UAE Banks Federation (UBF) approved recently 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 meeting 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.
According to state news agency WAM, the plan "includes Emiratization, 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 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.
UBF Chairman Al Ghurair expressed his gratitude and appreciation to the Central Bank of the UAE for its continuous support to the Federation and guidance to its members. He praised the close cooperation with strategic partners in ensuring the development of the sector in line with international regulations and the strategies of the UAE leadership.
