Law compliance key to banking sector, sustainability, says UBF

UAE Banks Federation (UBF) has reaffirmed the importance of compliance with all laws and regulations governing the banking and financial sector, emphasising that it is a key to the banking industry and sustainable development.

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The Federation stressed the critical role of adhering to legal and regulatory frameworks to support stability and growth of the UAE's financial and banking sector, under the direct supervision of the Central Bank of the United Arab Emirates (CBUAE), and to play its role in achieving the country's sustainable economic and social development goals.

In his opening keynote address at the MENA Financial Crimes and Compliance Conclave 2025, Jamal Saleh, Director-General of UBF, said, "Compliance is not just about adhering to laws - It's about fostering a culture of integrity and accountability. We are all working within the frameworks to combat financial crimes and ensure compliance with local and international regulations, as well as the frameworks established by CBUAE, to reinforce the leading position of our banking and financial sector."

He added, "The financial and banking industry is built on trust, and we are committed to transparency, governance, and strict compliance with regulatory frameworks to ensure a safe banking experience. Our initiatives have helped maintain the banking sector's leading position as the most trusted sector in the UAE, and placing the country among the top globally in terms of customer trust and confidence in the banking industry."