Letest News

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 …

UAE Banks Federation holds meeting with U.S. Treasury Department official, Paul Ahern, to coordinate fight against illicit financial flows قراءة المزيد »

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 …

UBF hosts workshop to promote cybersecurity awareness and improve UAE banks’ preparedness against threats قراءة المزيد »

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 …

The National – Contactless payments قراءة المزيد »

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 …

The National- Digital transformation قراءة المزيد »

Attendees receive updates on SWIFT’s Sanctions Screening Program which provides real-time tools to ensure sanctions compliance Abu Dhabi– June 16, 2021: UAE Banks Federation (UBF), in collaboration with SWIFT, the global provider of secure financial messaging services, today hosted a virtual roundtable on “Financial Crime Compliance” to discuss SWIFT’s new strategy for cross-border payments and …

UBF and SWIFT host roundtable on ‘Financial Crime Compliance’ ahead of global payment sector’s move to ISO 20022 standard قراءة المزيد »

Abu Dhabi- 16th-17th June 2021: Keeping pace with all the developments in the banking sector, and following the success of the series of webinars on regulatory compliance and cybersecurity, UAE Banks Federation, in collaboration with Al-Iktissad Wal-Aamal, is organizing “Banks of the Future” webinar on the 16th and 17th of June 2021. Participating in this …

UAE Banks Federation hosts “Banks of the Future” webinar On June 16 & 17,2021 قراءة المزيد »