The UAE Banks Federation has held its second CEOs Advisory Council meeting of the year at which it focused on a number of critical issues facing the banking sector in the UAE. The meeting was held at the Jumeirah Beach Hotel in Dubai, and was chaired by His Excellency AbdulAziz Al Ghurair.
During the meeting, Federation’s specialised committees reported on their work to the Council. Islamic banking committee presentation focused on their proposal to establish a Shari’a Compliant Governance Unit which is being discussed with the UAE Central Bank.
The Human Resources committee, meanwhile, reported on their work related to the further enhancement of Emiratisation in the banking sector, while the Small and Medium Sized Enterprises committee also updated the Council on issues of interest to banks, including definition of SMEs and start up financing and franchising.
The Council reiterated its full support for the early establishment of Al Etihad Credit Bureau, and through the Consumer Banking committee is urging all bank members to submit the required data to the Bureau at their earliest opportunity.
HE Al Ghurair, Chairman of the UAE Banks Federation, commented “I would like to thank all committees on their hard work and valuable contribution, and particularly to the special steering committee we have set up to co-ordinate our Mobile Wallet project for the Smart Government Initiative. Also, it is clear that all of our members are working as hard as they can to meet the requirements of the Credit Bureau, and I am confident that we will see this crucial new structure in place and operational in the coming few weeks.”
During the meeting, the Council also discussed progress since its last meeting in March on a range of other activities being carried out by all Federation’s specialised committees.
