{"id":26758,"date":"2020-11-25T08:07:09","date_gmt":"2020-11-25T08:07:09","guid":{"rendered":"https:\/\/tcit.ae\/ubf\/?p=26758"},"modified":"2022-07-30T08:08:24","modified_gmt":"2022-07-30T08:08:24","slug":"abu-dhabi-8th-december-2020-uae-banks-federation-ubf-held-its-annual-committees-chairpersons-meeting-virtually-in-the-presence-of-h-e-abdulaziz-al-ghurair-chairman-of-ubf-board-the-26-speci","status":"publish","type":"post","link":"https:\/\/tcit.ae\/ubf\/letest-news\/abu-dhabi-8th-december-2020-uae-banks-federation-ubf-held-its-annual-committees-chairpersons-meeting-virtually-in-the-presence-of-h-e-abdulaziz-al-ghurair-chairman-of-ubf-board-the-26-speci\/","title":{"rendered":"Abu Dhabi, 8th December, 2020: UAE Banks Federation (UBF) held its Annual Committees Chairpersons’ Meeting virtually, in the presence of H.E. Abdulaziz Al-Ghurair, Chairman of UBF Board. The 26 specialized committees gave feedback on their performanc"},"content":{"rendered":"
\n

Abu Dhabi, December, 2020:\u00a0UAE Banks Federation (UBF) has held its CEOs\u2019 Advisory Council\u2019s last virtual meeting of this year, chaired by H.E. AbdulAziz Al-Ghurair, UBF Chairman.<\/p>\n

The meeting focused on reviewing the year-long achievements of UBF\u2019s 26 specialized technical committees as well as UBF\u2019s main initiatives and events, including \u201cEthical Selling\u201d, mutual and joint discussions and initiatives with Central Bank of the UAE, financial literacy program supported by UAE\u2019s Community Development Authority, as well as UBF\u2019s \u201cRegulatory Compliance Webinar\u201d which was held on 25-26 November 2020. CEOs also took note of and guided UBF\u2019s 2021 endeavors and the projects\/initiatives that UBF intends to launch, including the wider adoption of its Emirates Digital Wallet (KLIP).<\/p>\n

The meeting highlighted the second phase of \u201cEthical Selling\u201d project, which was initially launched in September, 2017, in collaboration with a special consultant. It was approved by UBF\u2019s CEOs\u2019 Advisory Council and shared with Central Bank of the UAE. The project aimed to design a unified industry framework for Ethical Selling practices related to Retail Banking and Wealth Management in the UAE, in accordance with the international best practices.<\/p>\n

Moreover, UBF Wealth Management Committee worked with a special consultant on developing the \u201cWealth Management roadmap in UAE\u201d in line with international standards. The project aimed to make an Investment Hub by focusing on key areas of major pain points to grow UAE\u2019s onshore wealth and ways for improvement. A project management steering committee was formed from the CEOs of the following banks: Barclays, FAB, CITI Bank, SCB, DIB, Emirates Investment Bank, to discuss the consolidated paper on the challenges facing UAE today, mainly; clarify cross-border regulations for UAE-based wealth managers prospecting non-resident clients, and enhance investors\u2019 rights.<\/p>\n

H.E. AbdulAziz Al-Ghurair, Chairman of UAE Banks Federation, said:\u00a0\u201c2020 was a very productive and successful year for UBF and its members despite the impact of COVID-19. We took great care in reviewing the work of our 26 specialized committees and we approved the proposed action plan for the year ahead. We acknowledged the important role of the Central Bank of the UAE in guiding, supporting, and coordinating with UBF and member banks to ensure the overall long- term health and soundness of the banking system.\u201d<\/p>\n

Further, building on the strength of its relationships with every key player in the banking sector to ensure seamless communication, collaboration and coordination throughout, UAE Banks Federation had welcomed its new members MasterCard, Foreign Exchange Remittance Group (FERG), and National Bank of Bahrain, increasing the total number of UBF member banks and special status members (FI\u2019s) to 54. UBF intends to widen its inclusion of further members to primarily welcome all those who have a direct effect on the banking sector and\/or overseen by the Central Bank of the UAE into the family of UBF.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Abu Dhabi, December, 2020:\u00a0UAE Banks Federation (UBF) has held its CEOs\u2019 Advisory Council\u2019s last virtual meeting of this year, chaired by H.E. AbdulAziz Al-Ghurair, UBF Chairman. The meeting focused on reviewing the year-long achievements of UBF\u2019s 26 specialized technical committees as well as UBF\u2019s main initiatives and events, including \u201cEthical Selling\u201d, mutual and joint discussions …<\/p>\n

Abu Dhabi, 8th December, 2020: UAE Banks Federation (UBF) held its Annual Committees Chairpersons’ Meeting virtually, in the presence of H.E. Abdulaziz Al-Ghurair, Chairman of UBF Board. The 26 specialized committees gave feedback on their performanc<\/span> Read More »<\/a><\/p>\n","protected":false},"author":1,"featured_media":26760,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[29,26],"tags":[],"_links":{"self":[{"href":"https:\/\/tcit.ae\/ubf\/wp-json\/wp\/v2\/posts\/26758"}],"collection":[{"href":"https:\/\/tcit.ae\/ubf\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tcit.ae\/ubf\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tcit.ae\/ubf\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tcit.ae\/ubf\/wp-json\/wp\/v2\/comments?post=26758"}],"version-history":[{"count":2,"href":"https:\/\/tcit.ae\/ubf\/wp-json\/wp\/v2\/posts\/26758\/revisions"}],"predecessor-version":[{"id":26761,"href":"https:\/\/tcit.ae\/ubf\/wp-json\/wp\/v2\/posts\/26758\/revisions\/26761"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tcit.ae\/ubf\/wp-json\/wp\/v2\/media\/26760"}],"wp:attachment":[{"href":"https:\/\/tcit.ae\/ubf\/wp-json\/wp\/v2\/media?parent=26758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tcit.ae\/ubf\/wp-json\/wp\/v2\/categories?post=26758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tcit.ae\/ubf\/wp-json\/wp\/v2\/tags?post=26758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}