UAE Banks Federation (UBF) hosted its Board of Directors meeting to review its 2018 key initiatives and achievements, as well as discuss UBF\u2019s priorities and strategic plans for the year ahead. \u00a0Presided over by H.E. AbdulAziz Al Ghurair, Chairman of UAE Banks Federation, the meeting involved discussions around the latest themes in the local and global banking sector, including innovation, regulation, Emiratization, and SME Finance.<\/p>\n
H.E AbdulAziz Al Ghurair, Chairman of UAE Banks Federation, said:\u00a0<\/strong>\u201cUAE Banks Federation has witnessed another successful year, as our local banking sector continues to evolve and progress at a rapid pace.\u00a0 UBF will continue strengthening collaboration among member banks, withstanding challenges, and developing solutions for the benefit of the industry at large.\u201d<\/p>\n Despite regional and global volatility and uncertainty, UAE\u2019s GDP is projected to grow at 3.5% this year, while the local banking sector, marking sufficient liquidity and capital adequacy of ~18%, is expected to grow at 6.5%.<\/p>\n \u201cAs the sector faces technological and structural changes accompanied by increased regulation and compliance, we will continue supporting our member banks in exploring innovative, efficient and transparent ways of operating, to improve services provided to their customers. \u00a0We are well positioned for a successful year and we look forward to celebrating more achievements in 2019,\u201d\u00a0added H.E<\/strong>.<\/p>\n A number of high-priority topics for UBF were also discussed at the meeting, including FATF Mutual Evaluation, AML, and Cybersecurity. The meeting also explored the challenges of compliance for banks and financial institutions in relation to both local and international regulations, and the need for the banking sector to take positive and efficient steps towards the use of artificial intelligence, cognitive computing, and blockchain technology in the banking industry.<\/p>\n","protected":false},"excerpt":{"rendered":" UAE Banks Federation (UBF) hosted its Board of Directors meeting to review its 2018 key initiatives and achievements, as well as discuss UBF\u2019s priorities and strategic plans for the year ahead. \u00a0Presided over by H.E. AbdulAziz Al Ghurair, Chairman of UAE Banks Federation, the meeting involved discussions around the latest themes in the local and …<\/p>\n