UBF Holds Its Annual Ordinary General Assembly Meeting in 2022

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Abu Dhabi, UAE: UAE Banks Federation (UBF), the representative and unified voice of UAE banks, held today its annual ordinary General Assembly meeting in 2022 virtually. The meeting was chaired by H.E. Abdul-Aziz Al-Ghurair, Chairman of the UAE Banks Federation, and attended by UBF’s Board of Directors and the majority of UBF members, with representatives from the Abu Dhabi Department of Community Development.

During the meeting, members approved UBF’s General Assembly meeting minutes from 22 March 2021. They also unanimously approved the 2021’s Audited Financial Statements and External Auditors’ Report, absolved the Board of Directors and External Auditors for the year ending 31 December 2021, and appointed an External Auditor for 2022.

Moreover, UBF members endorsed the new UBF Board of Directors which will serve for the next three years from May 2022 to April 2025. The elected Board of Directors comprises:

  1. Mashreq Bank: H.E. Abdul-Aziz Al-Ghurair 
  2. RAK Bank: H.E. Mohammad Omran Al Shamsi 
  3. First Abu Dhabi Bank: H.E. Sheikh Ahmed Mohammed Sultan Al Dhaheri 
  4. Dubai Islamic Bank: H.E. Hamad Mubarak Buamim 
  5. National Bank of Fujairah: Dr. Sulaiman Mousa Al Jassim
  6. Abu Dhabi Commercial Bank: Mr. Adnan Al Ismail 
  7. Commercial Bank of Dubai: Mr. Abdulla Al Turifi 
  8. Emirates NBD: Mr. Abdulla Qassim 
  9. Abu Dhabi Islamic Bank: Mr. Abdulla Al Ahbabi 

Thereafter, attendees approved UBF’s Strategic Objectives and Plans for 2022 along with the required budget.  The approved objectives are intended to elevate UAE banking sector’s standards, with a focus on Emiratization and Consumer Protection, under the clear direction and close oversight of the Central Bank of the UAE.

After covering all agenda topics, The Board of Directors of the UAE Banks Federation re-elected H.E. Abdulaziz Al Ghurair as Chairman of the UAE Banks Federation, and H.E Mohammad Omran Al Shamsi as Vice Chairman of the UAE Banks Federation for the upcoming 3 years. Moving forward UAE Banks Federation Chairman H.E. Abdulaziz Al-Ghurair thanked the Central Bank of the UAE, the members of UBF’s Board of Directors, and all UBF member for the significant role they played in 2021 that has led to a substantial increase in customer trust, to reach 87% in 2021 from 63% in 2020 which also showed a remarkable progress in customer trust about the improvement and development of the UAE banking sector to reach 98% in 2021. The Chairman also thanked the Abu Dhabi Department of Community Development.

About UAE Banks Federation (UBF):

Established in 1982, UAE Banks Federation (UBF) is a professional representative body comprising 54-members operating in the UAE.  UBF advocates the interests of all its members, and enhances cooperation and coordination in-between 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.