The UAE Banks Federation (UBF) held its Annual General Meeting (AGM) under the chairmanship of Abdulaziz Al-Ghurair, alongside members of the Board of Directors and representatives from member banks. The meeting reviewed the Federation’s 2024 financial performance and set strategic priorities for 2025 aimed at further strengthening the UAE banking industry.
Driving Sustainable Growth and Sector Stability
During the AGM, members approved the minutes from the previous assembly held on April 29, 2024, the 2024 audited financial statements, and the auditor’s report. The board was also absolved of liabilities for the financial year ending December 31, 2024, and auditors for 2025 were appointed.
The Federation’s 2025 strategy, presented and endorsed at the meeting, underscores the importance of advancing the banking sector’s contribution to the UAE’s economic and social development goals. UBF reiterated its commitment to reinforcing the UAE’s status as a global financial hub.
The Assembly noted that UAE banks demonstrated strong performance throughout 2024, maintaining high capitalisation, robust profitability, solid liquidity levels, and stable reserves. These outcomes reflect the effectiveness of the Central Bank of the UAE’s strategic frameworks, which aim to provide seamless, secure services and promote sector-wide resilience.
Advancing Emiratisation and Digital Readiness
A key highlight of the meeting was UBF’s achievement in surpassing Emiratisation targets, with a 152.9% growth in the number of UAE nationals employed in banking and insurance during 2024. This success aligns with the Central Bank’s broader Emiratisation agenda.
The General Assembly stressed the importance of expanding training programmes to develop national talent in line with the industry’s rapid digital transformation. These efforts will equip Emiratis with the tools and skills needed to thrive in an evolving financial landscape.
Additionally, participants praised the UBF’s various initiatives that foster trust and transparency in the sector. The UAE banking industry currently boasts a 90% trust rating, making it the most trusted sector in the country according to the latest Trust Index.
Fostering Innovation and Financial Inclusion
In line with its 2025 strategy, UBF will continue working to accelerate digital transformation, strengthen cybersecurity infrastructure, and combat financial fraud. The Federation remains committed to upholding best-in-class standards for governance, compliance, and risk management.
The Assembly also reaffirmed the need to promote financial inclusion by enhancing services for all customer segments, especially small and medium enterprises (SMEs) and entrepreneurs. Members encouraged banks to expand offerings that support business growth and innovation across the UAE economy.
Additionally, strategic partners and global banking associations recognised UBF for its collaborations and continued focus on sustainable finance. The AGM underscored the need to advance green finance solutions and develop frameworks to accelerate the sector’s transition toward sustainability.
UBF’s awareness and training initiatives were equally commended for keeping banking professionals informed and agile in response to global market trends. The Federation continues to offer valuable platforms for knowledge-sharing and professional development, reinforcing its role as a key enabler of sector-wide excellence.
