Abu Dhabi, 13th Oct 2020:
UAE Banks Federation (UBF) held its General Assembly Meeting on October 13th, 2020 via videoconferencing. The meeting was chaired by H.E. AbdulAziz Al-Ghurair, Chairman of UAE Banks Federation, and was attended by UBF’s Board of Directors and representatives from UBF’s member banks.
During the General Assembly, members reviewed and approved the minutes of the previous General Assembly Meeting held on 22 April 2019, and absolved UBF’s Board of Directors and Auditors for the financial year ending 31st December 2019. Members also approved the Annual Report for the year 2019, the Audited Financial Statements and the Auditors' Report for the year 2019 and the appointment of Auditor for 2020. They ratified the budget for 2020, and approved strategic objectives and action plan for the year 2020.
H.E. AbdulAziz Al-Ghurair, Chairman of UAE Banks Federation, said: “It has been a privilege to see UAE Banks Federation playing a significant role in facilitating positive developments and transformations that are taking place across the banking sector. Despite the unprecedented global conditions that we are witnessing in this period, as well as the challenging environment of COVID-19 pandemic, we are proud of UBF’s achievements during 2019 and year to date 2020, particularly in relation to key initiatives aimed at protecting customers and banks against – for example – cyber attacks, as well as enhancing fraud prevention across the banking landscape, in addition to many innovative banking solutions being brought on board.”
“On behalf of UBF, I would like to thank the Board of Directors for their guidance and dedication. Together, we will collectively navigate the way forward with the uninterrupted support of our members and technical committees, in addition to the coordination and consultation with the Central Bank of the UAE and other stakeholders and their enormous contributions to UBF’s success year after year, to further develop sustainable and innovative banking platforms in the UAE, and ensure a robust business continuity during the challenging time of COVID-19,” H.E. added.
Other topics and items on the agenda were also discussed and attended to as well as approved during the Meeting. Finally, the members wished the Federation more success and progress in the future.
For further information, please contact:
UAE Banks Federation
Mobile No: +971 56 688 8587
About UAE Banks Federation: Established in 1982, UAE Banks Federation is a professional representative body comprising 54-member banks operating in the UAE. The Federation advocates all banks' interests, and enhances cooperation and coordination among them, in order to promote and upgrade the UAE's banking industry for the benefit of overall sector, its customers, and the national economy. UAE Banks Federation's mission and objectives are focused on representing its member banks and defending their interests and rights. The Federation provides a platform for cooperation and exchange of ideas and opinions among member banks and plays a major role in raising public awareness around the beneficial role and distinctive financial, economic and social contribution of the banks to the UAE. The Federation has an Advisory Council consisting of 27 Banks CEOs which oversees the implementation of the policies, follows up on UBF's activities and makes necessary decisions, for the 23 technical committees and 3 advisory committees who discuss all relevant banking issues.