Opinion Pieces

Innovative technologies, like biometrics and tokenisation, can reduce financial crime, but there is no substitute for keeping your wits about you By Jamal Salah, Director General (UAE Banks Federation) When we think of financial crime and fraudsters, we often picture a complex web of criminals with an acute set of skills, hacking into intricate banking …

Financial fraudsters aren’t always as sophisticated as you’d think Read More »

With Artificial Intelligence technologies heralding a new future for the UAE banking sector, “employees should embrace the emerging synergy between man and machine”, says H.E. AbdulAziz Al Ghurair, Chairman, UAE Banks Federation. The global banking industry is going through a period of rapid transformation, heralded by disruption and driven by emerging digital technologies. As businesses around the world …

Why there is nothing artificial about the promise of Artificial Intelligence replacing humans Read More »

Much has been said and written about disruptive technologies and how they are shaking things up across industries. But it is clear by now that businesses have to constantly track the course of technological innovation, which is coming through at a rapid pace making their strategies and planning almost obsolete, to understand what future has …

Embracing Artificial Intelligence: Do UAE banks have a choice? Read More »

Dubai is in the forefront of innovative technologies in banking   All over the world, the banking sector is operating in an era of great technological flux, one in which the adage “innovate or die” morphs into a stark and very real message staring the industry in its face. As technology plays an ever increasing role in …

Abdul Aziz Al Ghurair: Digital banking gaining speed in the UAE Read More »

Banks in the UAE are setting aside huge sums for digital transformation The UAE’s banking sector is about to take a giant digital leap with the launch of the Emirates Digital Wallet, which is scheduled to take place within the next few months. The first-of-its-kind wallet, developed and implemented under the aegis of the UAE Banks …

Emirates Digital Wallet: What you need to know Read More »

Banking as a business used to be less complicated.There were fewer regulations, and the choice of services was simple compared with the myriad now on offer.  Trustwas a central pillar in an individual’s or company’s relationship with their bank. The emergence of amuch more complex world has changed all that, with a surge in banking …

Trust Gives Way to De-Risking Read More »

According to the World Bank, being financially excluded is linked to income level. The richest 20% of adults in developing countries are more than twice as likely to have a formal bank account as the poorest 20%. Yet the benefit of financial services among poorer people may be even greater than that of the wealthy. …

Inclusion is Not a Life Choice Read More »

In an article published by Gulf News last year, the Chairman of the UAE Banks Federation, HE AbdulAziz Al Ghurair, highlighted the skills gap as a key challenge for Islamic banks in the UAE and elsewhere. There have been many surveys done by academic and business institutions on this topic in recent years, and they all come …

Bridging the Gap Read More »

“As the nation marks the 44th anniversary of its founding, we witness another year of success and stability in the UAE. Each year, this time we recall the wise leadership of His Highness Sheikh Zayed bin Sultan Al Nahyan who together with H.H. Sheikh Rashid bin Saeed Al Maktoum the then ruler of Dubai, and the …

UAE National Day 44 Read More »

The UAE is one of around a dozen countries around the world where the share of Islamic banking of the whole banking sector is above 10%. Only Saudi Arabia and Kuwait have more than 30%.  But even so, it is immediately apparent to visitors and new residents here that Islamic banks play a substantial and …

A Question of Critical Mass Read More »