Banking & Finance
UBF Forms Committees To Secure Growth of UAE Banking Sector

The UAE Banks Federation (UBF) – the official representative body of the UAE banking industry – has launched committees to promote the growth and transformation of the Emirate’s banking sector.
The Federation today announced two new technical committees for Fintech and Consumer Protection and three advisory committees for Compliance, Risk, and Information Security have been introduced to enhance the sector’s ecosystem, and support both banks and the local community, according to a press release.
Abdulaziz Al Ghurair, UBF Chairman, said, “For four decades, the UBF has provided UAE banks with a unified voice, bringing them together and providing a platform that facilitates the exchange of ideas to promote growth and transformation. With the introduction of five new committees, we hope to further raise the standards of the industry and support the UAE’s progressive vision to empower society at all levels. The pillars we have chosen to build on are fundamental to the economy, and by better preparing banks for the future, we are securing a better future for the UAE and wider region.”
The two new additions take the number of UBF’s technical committees to 22, the release said and added that the Consumer Protection Committee will oversee all consumer protection issues in the banking sector, while the Fintech Committee, in line with UAE’s vision 2021 to transition to a knowledge-based economy, will foster an environment conducive to product and partnership innovation in the banking industry, and improve capabilities in technology to achieve sustainable growth.
The Compliance Advisory Committee, Risk Advisory Committee, and Information Security Advisory Committee are the UBF’s first advisory committees launched. Comprising banking representatives, they have been introduced to advise their respective main technical committees, and bring unique knowledge and skills which augment the main committees through informed guidance and support, according to the release.
As part of its collaboration efforts, UBF has also added National Bank of Bahrain as a member, increasing the total number of UBF member banks to 53.
-
News2 months ago
Aligning HR Strategies with Oman Vision 2040: A Roadmap for Organisational Growth – OER Business Summit 2025
-
OER Magazines1 month ago
OER, April 25
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, April 25
-
Renewables3 weeks ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Banking & Finance2 months ago
Bank Nizwa Signs MoU with Ministry of Endowments and Religious Affairs to Enhance Endowment Management & Islamic Finance Frameworks
-
News2 months ago
Oman Signs Historic Agreement to Establish World’s First Liquid Hydrogen Corridor to Europe
-
Banking & Finance1 month ago
How Bank Muscat is Pioneering Digital Solutions to Empower Customers
-
Renewables1 month ago
Sembcorp’s 588MW Solar Power Plant In Oman Begins Commercial Operation