Compliance vital to score Sustainable Development Goals: UBF

The UAE Banks Federation (UBF), the sole representative and unified voice of UAE banks, reiterated that compliance with the legislation, regulations, and laws regulating payments is a guarantee for achieving Sustainable Development Goals (SDGs), locally and internationally.

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During its participation in the third edition of the Future of Payments Summit held in Dubai on Tuesday, UBF stressed the importance of adhering to the legislative and regulatory frameworks that contribute to the development and employment of innovations in national and international payments.

It emphasised that UBF and its member banks work under the direct supervision of the Central Bank of the UAE (CBUAE), which is characterised by a proactive approach in dealing with accelerated developments to ensure that the banking and financial sector play its role in achieving objectives of sustainable economic and social development of the UAE.

The third edition of the Future of Payments Summit, organised under the theme (Redefining the Future of Cross-border Payments Landscape), was attended by more than 300 government officials and business leaders, 40 speakers from the financial, banking and fintech sector.

The summit featured more than 40 panel discussions, thought leadership sessions, and keynote speeches presented by industry leaders and policymakers, highlighting ways to develop payments, future trends to enhance efficient and secure payment systems, how to meet the expectations and growing requirements of various customer segments, the role of innovation's initiatives and efforts exerted by banks, financial institutions, and payment and technology solutions providers in supporting international trade and economic growth.