KHALEEJ TIMES, Sunday, Sep 27, 2020 | Safar 10, 1442
UAE Banks Federation addresses sector dynamics
Emirates:
Members of the CEOs Advisory Council of UAE Banks Federation (UBF) held
its third quarterly meeting of the year online, which was presided over by
Abdulaziz Al Ghurair, chairman of UAE Banks Federation.
The meeting discussed the changing dynamics in the UAE banking sector and the
challenges faced, with a focus on joint efforts with the Central Bank of the UAE,
as well as the nation-wide campaign of fraud awareness that it launched together
with the Central Bank and Abu Dhabi and Dubai Police.
Expert advisors and UBF Technical Committees highlighted matters ranging from
real estate, IT security, Emiratisation, fraud prevention, Emirates Digital
Wallet's KLIP, as well as several newly-launched partnerships and joint
initiatives with a range of UAE departments, authorities, and associations.
"With the gradual reopening of the UAE economy, we are seeing significant
changes across industries and an increase in economic activity, including the
real estate sector, with continuous positive efforts from the banking sector to
support and shape the UAE's recovery plan.
We continue to work closely with key stakeholders to identify opportunities and
overcome challenges to enhance the banking industry during these unprecedented
times. The last few months of this year will be a real test for us, but we are
confident that while heading into 2021 we will do our best to assist UBF members
to be in a better position to secure a resilient and financially stable future
for the UAE," said Al Ghurair said.
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