Wide-ranging agenda included banking sector achievements during and post-COVID-19, UBF strategy to meet ‘Projects of the 50’ goals, and the second half of 2021 outlook for UAE banks Dubai – October 24, 2021: Chairman of UAE Banks Federation (UBF), H.E. AbdulAziz Al-Ghurair, today held a press conference – his first since the exit from the restrictions of COVID-19 …
Banking leaders discuss Ethical Selling Initiative, Wealth Management Roadmap, and new requirements for Emiratization Abu Dhabi – September 20, 2021: The CEOs’ Advisory Council of UAE Banks Federation (UBF) held today its third meeting of 2021 to discuss banking sector developments and review the progress achieved on key initiatives as well as the impact of …
UBF’s CEOs Advisory Council holds its 3rd meeting of 2021 قراءة المزيد »
Implementing an effective response plan to cope with an unplanned disruption is critical Pillairkulam Parthasarathy Sep 15, 2021 Every business today is at risk of a cyber attack, but perhaps nowhere are the stakes higher than in the financial and banking sector. Cyber attacks can cause substantial financial losses for banks and customers. Banks also …
How banks can address rising cyber security threats to protect customers قراءة المزيد »
Dubai, United Arab Emirates, 14 September 2021: In its constant efforts to promote cashless economy, Emirates Digital Wallet adds RAKBANK to its nationwide cashless ecosystem, klip. Emirates Digital Wallet, spearheaded by the UAE Banks Federation, operates klip with an aim to reduce the use of physical cash and supports the UAE government’s efforts to drive digital …
RAKBANK goes live on Emirates Digital Wallet’s klip Platform قراءة المزيد »
Threats of frauds and scams are among the most important challenges facing banks and their customers today. The accelerated shift towards digital banking services during COVID-19 has coincided with an upsurge in sophisticated fraud attempts, with the proportion of online fraud attempts using previously unseen tools or techniques going up from 20 per cent to …
Nothing beats power of customer knowledge in the fight against banking fraud قراءة المزيد »
Meeting aimed to strengthen U.S.-UAE cooperation in the financial sector and discuss ways to address compliance risk Abu Dhabi – July 1st, 2021: A high-level delegation of UBF Compliance Committee, led by UBF Director General Mr. Jamal Saleh, held a meeting with Mr. Paul Ahern, Principal Deputy Assistant Secretary, U.S. Department of Treasury, to discuss issues …
Workshop aimed to share cyber hygiene best practices among UBF member banks with a view to enhance cyber resilience and protect UAE’s critical banking infrastructure Abu Dhabi – June 29, 2021: UAE Banks Federation’s Information Security Committee hosted today a workshop on Cybersecurity for UBF members as part of efforts to tackle the threats of …
Meeting decides to go ahead with Cyber WarGaming Exercise and initiate Phase2 of Ethical Selling Framework to protect customers’ interests Abu Dhabi – June 28, 2021: The CEOs’ Advisory Council of UAE Banks Federation (UBF), the representative and unified voice of UAE’s banking sector, held its 2nd meeting of the year on Monday, 28 June …
UBF’s CEOs Advisory Council holds its second 2021 meeting قراءة المزيد »
1) Last year, Central Bank of the UAE increased Card Verification Method limit for contactless transactions to AED 500 from AED 300. Are there plans to further increase this limit to encourage more usage of contactless payments, especially for larger purchases? Contactless payments are part of everyday life for a growing segment of the UAE’s …
There is no doubt that investment in the development, modernization and digital transformation of many countries around the world over the past years has been effective in meeting challenges and repercussions such as those imposed by the new COVID-19 pandemic. This pandemic has shaken the whole world, and many countries have found themselves facing unprecedented …
