His Excellency welcomed the International Development Bank (IDB) and Wio Bank to the UAE Banks Federation, stressing that the board’s decision to expand its membership base to include digital banks (which focus on delivering services digitally) is a valuable addition to the Federation. Digital banks are important to the banking sector, as the UAE is considered one of the leading countries when it comes to keeping pace with the latest global evolvement in delivering financial services.
Referring to the UAE banking sector’s participation in the World Financial Communications Association Conference (Sibos) in Amsterdam next month, Mr. Jamal Saleh, Director General of the UAE Banks Federation, said, “The rest of 2022 will witness many initiatives and participations that are of utmost importance to the banking sector, helping to strengthen the sector’s role as one of the main drivers of economic development. The UAE will participate in Sibos, which takes place in October this year, and is the world's largest annual conference and exhibition for financial institutions and decision-makers in the finance and banking sector.The Director General added: " The UAE Banks Federation continues to implement initiatives aimed at consolidating of our role in the development of the sector under the continuous guidance of The Central Bank of the UAE. These initiatives include supporting small and medium enterprises by providing a financial environment that meets the needs of this vital sector, as well as accelerating the pace of Emiratisation, training professional cadres, combating fraud and launching the second phase of the campaign to improve ethical selling as part of our ongoing efforts to protect the interests of customers."