7
T
he UAE Banks Federation (UBF) aims
to be recognised as the distinguished
professional representative and dynamic
voice of the banking industry in the UAE. It
was established in 1982 as the Association of
National Banks and is currently a professional
representative body of 49 member banks that
operate in the UAE. It was renamed as the Emirates
Banking Association in 1986 before becoming
the UAE Banks Federation in 2013. The UBF
advocates for best practice on behalf of banks in
order to promote and upgrade the UAE’s banking
industry for the benefit of the banking sector, its
customers, and the national economy.
Raising public awareness of the benefits of
banks and the pivotal role they play in society
and the economy, is an important function
of the UBF, which also takes into account the
collective views of its members on matters
of mutual concern. Therefore, it has a clearly
defined vision and mission focused on developing
and representing the interests of its member
banks, promoting and enhancing the banking
industry, and contributing to the public good and
development of the national economy. In line with
this vision and mission, the UBF has played a vital
role in enhancing cooperation and coordination
among member banks on relevant and current
banking issues to develop the banking sector and
enhance its contribution to economic and social
development.
The UBF facilitates the exchange of banking
and financial information, and coordinates
cooperation on banking procedures in legal,
technical and administrative fields. It organises
networking events as well as timely meetings
to facilitate communication and interaction
between member banks. The UBF also provides
banks with a platform to exchange ideas, opinions
and information, and offers representational
leadership for member banks by developing
solutions to meet the changing needs of the
marketplace, and facilitates training and research
among its members.
The Board of Directors is responsible for
planning, policy-making and supervision of all
the various activities of the UBF and members
are elected every three years. The UBF also has
an Advisory Council consisting of bank CEOs that
oversee the implementation of policies, follows up
on the UBF’s activities and makes the necessary
decisions on all issues of concern to the UAE
banking sector. Furthermore, specialised technical
committees have been established within the
UBF to deal with all relevant banking issues and
resolve these issues.
In short, the UBF delivers superior value and
benefits to member banks, enabling them to build
competitive and sustainable businesses which
support the economy, customers and society.
Advocating on behalf of member banks’ interests,
and enhancing cooperation and coordination
among them, the UBF is successfully going
forward in its mandate to promote and enhance
the national banking industry in line with best
international standards and practices.
ANNUAL REPORT 2015
