UAE Banks Federation calls upon SMEs in the UAE to Unlock Their Potential

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Abu Dhabi: UAE Banks Federations (UBF), the unified voice and representative of UAE banks, has called upon the entrepreneurs of existing and under-formation Small & Medium Enterprises (SMEs) to unlock their full potential by benefiting from UBF’s Nationwide SME Campaign, which is all accessible through one platform: www.uaebf.ae/SME.

UBF Director General, Jamal Saleh, explains that such initiatives will help UAE SMEs become a driving force for a thriving economy, commenting that: “In the past 20 years, UAE has shaped up into a global business hub, attracting thousands of entrepreneurs from the four corners of the world. UAE’s leadership has a vision for the country to become an oasis for innovation and we, at UBF, believe that our banking sector and our UBF member banks have a major role to play in bringing this vision to life through the empowerment of SMEs that are constantly enabling our country to progress and advance.”

With SMEs having such sizeable impact on national economy, UBF has vowed to support them through business-friendly initiatives that build on innovation, digitalization, financial planning, banking partnerships, and optimum governance.

SMEs’ owners are, thus, encouraged to tie up with reliable UBF members banking partners who will grant them privileged access to customized business banking services and solutions, financial products and financial planning services, as well as loans and funding programs. 

UBF initiatives also enable entrepreneurs to protect, promote, and regulate their businesses through right strategic plans as well as business regulations and frameworks that guarantee good governance. Moreover, this UBF initiative provide SMEs with invaluable mentorship and networking opportunities, in addition to a wealth of informative resources, and social marketing and digital tools to help them reach new business heights.  

Dhiraj Kunwar, Chairperson of UBF’s SME Committee, said: “To facilitate SMEs’ access to information about our business-friendly initiatives, we have created an online platform where SME clients can find everything they need to move their business forward. We have also created an exclusive Facebook group to keep SMEs up-to-date with new initiatives and programs that could help them achieve their real potential, regardless of the size of their business.”

About UAE Banks Federation (UBF):

Established in 1982, UAE Banks Federation (UBF) is a professional representative body comprising 52-members operating in the UAE.  UBF advocates the interests of all its members, and enhances cooperation and coordination inbetween in order to promote and elevate UAE’s banking and financial ecosystem for the benefit of the banking/financial sector, customers, and the overall UAE economy.

UBF’s mission and objectives are focused on representing its members and defending their rights. UBF provides a platform for cooperation and exchange of ideas and opinions among its members and plays a major role in raising public awareness around the beneficial role and distinctive financial, economic and social contribution of UBF members to the UAE.

UBF has a 9-member Board of Directors, representing the leading UAE national banks, with H.E. AbdulAziz Abdulla Al-Ghurair currently its Chairman.  The main responsibility of UBF’s BOD is to provide the national strategic direction and overall oversight of UBF.  

UBF also has a 26-member CEOs Advisory Council, which oversees the implementation of UBF policies and execution of initiatives, projects, and activities.  The CEOs Council also makes necessary directional decisions for UBF’s 25 technical and 3 advisory committees, who are in turn tasked with implementing all agreed-on mandates, under the umbrella and guidance of UBF’s General Secretariat.  The 25 technical and 3 advisory committees also discuss all issues that are relevant to the UAE banking and financial ecosystem.