UBF Annual General Assembly Endorses Priorities and Approves Action Plan for 2018

Press release
Published April 24th, 2018 - 09:42 GMT
The meeting discussed and approved the audited Financial Statements and Auditors' Report for 2017 for UBF and ratified its budget for 2018.
The meeting discussed and approved the audited Financial Statements and Auditors' Report for 2017 for UBF and ratified its budget for 2018.

The UAE Banks Federation (UBF), held yesterday (Monday 23, 2018) its Annual General Assembly Meeting in Dubai.  HE Abdul Aziz Al Ghurair, Chairman of UAE Banks Federation, presided over the meeting, which was attended by UBF’s Board of Directors as well as senior representatives of the member banks. The meeting reviewed the federation’s key activities and achievements in 2017 and approved priorities and action plan for 2018.

The meeting discussed and approved the audited Financial Statements and Auditors' Report for 2017 for UBF and ratified its budget for 2018. The attendees commended the constructive role of UBF, with the support of members bank CEOs, towards contributing to raising the standards of banking and promoting a thriving banking sector. The attendees also commended the key initiatives of UBF that include the launch of the cyber threat intelligence sharing platform and as well as developing the ethical selling framework. They further applauded the Central Bank of the UAE’s release of the EIBOR regulation. 

In addition, the meeting reviewed the progress realized in implementing initiatives tailored and launched by UBF’s 20 technical committees during 2017 and commended their valuable productivity and performance. The attendees also applauded the relentless efforts made by the committees in boosting innovation and improving customer experience and satisfaction and raising the profile of UBF and the banking industry.

Background Information

UAE Banks Federation

The UAE Banks Federation (UBF), a not for profit organization representing 52-member banks operating in the country, is the leading industry association for the UAE banking sector. Being the official representative body of the rapidly burgeoning banking industry in the UAE, UBF considers the provision of exceptional professional representation and a distinctive collective voice of banks of the UAE to be its foremost mandate. 

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