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18 April 2024

Emirates Banks Association becomes UAE Banks Federation

By Wam

Emirates Banks Association has announced the change of its name to become "UAE Banks Federation".

The new name reflects the union of UAE banks and represents the nature of their activities and the best image of the banking sector which plays a vital and significant role in the national economy.

"Change of the name to UAE Banks Federation came in line with the High Management strategic plan adopted at the beginning of last year, which aimed to promote and develop the federation's work in all aspects in response to the rapid developments facing the banking sector locally and globally," said AbdulAziz Abdulla Al Ghurair, Chairman of UAE Banks Federation..

"We will continue our success based on the top quality and excellence in the banking sector towards serving all customers and the community pursuing the best international professional practices," he added.

UAE Banks Federation main objectives stress on the advanced cooperation and harmony between the banks, representing their interests, organizing their duties and protecting them derived from the collaboration and coordination with the Central Bank and other Government Entities. In addition, the UAE Banks Federation plays a major role in developing banks employees' skills while striving, at the same time, to offer customers high quality services and protect their interests, and thus providing a proper environment to enable the banking sector fulfill its role in economic development.

Founded in 1982 as Association of National Banks to become Emirates Banks Association at a later stage, the UAE Banks Federation includes 51 banks, 23 national and 28 foreign. The CEOs Advisory Council of the federation formulates policies and strategies and makes decisions on banking related issues after being studied and evaluated by the ten committees formed last year.