UAE Banking Charts Course for 2024

The CEOs Consultative Council of the UAE Banks Federation (UBF) convened recently to assess the federation's goals and initiatives for 2024. The meeting, held under the Central Bank of the UAE's purview, underscored the federation's commitment to solidifying the UAE's status as a premier global financial and banking hub.

Mohammad Omran Al Shamsi, the UBF's Vice Chairman and the CEOs Consultative Council's Chairman, commended the UAE Banks Federation's achievements over the past year and the first quarter of 2024. He highlighted the federation's success in launching innovative programs under the Central Bank's direct supervision. These efforts, Al Shamsi emphasized, are instrumental in bolstering the UAE's position as a leading financial center.

A key focus of the council meeting was the UAE Banks Federation's dedication to fostering Emiratization within the banking and financial sector. The council lauded the federation's adoption of the Emiratisation Plan, a strategic initiative developed under the Central Bank's guidance. This plan aims to cultivate a conducive environment for attracting, training, and empowering Emirati talent. The ultimate objective is to pave the way for the emergence of future leaders within the UAE's banking sector, achieved through collaboration with financial institutions operating in the country.

The meeting also explored potential areas for collaboration between the UBF and various strategic partners. Discussions centered on how to best leverage these partnerships to ensure the continued development and progress of the UAE's financial sector. The council's members expressed their unwavering commitment to working alongside the federation in propelling forward these vital programs and initiatives.

The UAE Banks Federation plays a pivotal role in shaping the nation's financial landscape. The CEOs Consultative Council's recent meeting serves as a testament to the federation's dedication to driving innovation, fostering Emirati talent, and solidifying the UAE's position as a global financial powerhouse. Through strategic partnerships and the implementation of well-defined plans, the UBF is well-positioned to steer the UAE's banking sector towards a prosperous and future-proof future.

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