UAE Banks Federation Advisory Council reviews latest developments on banking
The CEOs Advisory Council of the UAE Banks Federation held its fourth meeting this year, today (Thursday, 23 May 2013) in Abu Dhabi, and discussed the latest developments on relevant banking issues.
The meeting was headed by H.E AbdulAziz Abdulla Al Ghurair, Chairman of UAE Banks Federation, where the CEOs Advisory Council the key topics of the agenda primarily “Liquidity Regulation at Banks”, “Monitoring of Large Exposure Limits”, “Decriminalization of Bounced Cheques” and “Basel II & III”. The Council also discussed latest updates on consumers’ loans following the Central Bank instructions, noting that UAE Banks Federation has earlier urged the banks to find further solutions to reduce loans burden on Nationals borrowers.
H.E praised the banks significant role in supporting the UAE economy and social development, and highlighted banks results of first quarter of 2013 where banks assets increased by 4.8% and customers deposits increased by 6%, reflecting significant improvement in liquidity, and increasing confidence of investors and customers in the banking sector and the national economy, amid all the challenges and developments in the region.
H.E added: "The banks compliance to Central Bank instructions and decisions is a priority for us, and the ongoing cooperation among the banks contributes after all to serve the interest of customers and the community, as these meetings always aim to develop and improve the banking services to best practice standards."
The CEOs Advisory Council was engaged in other key topics such as Financial Literacy, Evaluation of UAE Banks Federation Committees, and development of the Code of Conduct among member banks.
The CEOs Advisory Council also discussed the federation latest activities, and particularly the plan to organize an annual event intended for UAE Banks Federation, which will welcome senior bankers and economists from the public and private sectors,and top speakers from the region, aiming to cover the most significant banking and economic issues in UAE.