CEOs’ Advisory Council of UAE Banks Federation (UBF) Holds its First Meeting for the year 2022
Customers’ trust in UAE banks increased tremendously from 63% in 2020 to 87% in 2021, and Brand Reputation is up to a stellar 98%
Abu Dhabi – 22 March, 2022: UAE Banks Federation’s CEOs’ Advisory Council held today its first meeting of the year 2022, with all Council members joining in virtually.
Reflecting the tight collaboration that exists between UBF members, the Council discussed the latest developments on the national and international banking fronts, following the members’ last meeting in December 2021.
Highlighting the importance of the CEOs’ Advisory Council meetings, UBF Chairman, H.E. AbdulAziz Al-Ghurair said: “These meetings directly contribute to the progress of the banking sector in the UAE, as they help UBF members share respective experiences and updates, align on common strategic topics such as Emiratization in the banking sector, and follow up on UBF projects and initiatives, such us UBF’s National Campaigns of Fraud Prevention as well as UBF’s SME Awareness Campaign. Our condensed, yet fruitful, sessions allow us to agree on strategic topics in a matter of hours, which optimizes the decision-making process at the highest level. This allows us to move forward swiftly and efficiently, all of which is to better serve the interests of customers and all shareholders.”
The Council’s busy agenda tackled recent international developments, and also discussed the latest measures taken by the UAE Government to alleviate COVID-19 restrictions which could positively reflect on the banking industry, as citizens and residents gradually regain their usual life routine. In addition, UBF, using a top consultancy firm, has confirmed the substantial increase in customers’ Trust index level in UAE banks from 63% in year 2020 to 87% in year 2021, as well as a stellar increase in UAE Banks’ brand reputation to 98%.
CEOs also discussed the anticipated conclusion of Expo Dubai 2020 by end of March 2022, various technical submissions by UBF’s committees, progress on various UBF programs and mandates, member banks operating conditions, and credit demand.