UBF clears 2025 strategy to further develop banking sector

ABU DHABI: The UAE Banks Federation (UBF), the sole representative and unified voice of UAE banks, held its Annual General Meeting, under the chairmanship of His Excellency Abdulaziz Al-Ghurair, Chairman of UAE Banks Federation, and in the presence of members of the Board of Directors of the Federation and representatives of member banks.

- 

During the meeting, the members approved the previous minutes of the General Assembly held on 29 April 2024, the audited financial statements for 2024 and the auditors' report.

The General Meeting also absolved the Board of Directors from liabilities arising from their duties for the financial year ending 31 December 2024 and appointed the auditors for the year 2025.

The meeting approved the strategic goals and plans of UBF for 2025, as presented by the Board of Directors, to develop the UAE banking sector and strengthen the UAE's position as one of the global financial, economic, and commercial centres.

The General Assembly emphasised the importance of supporting strong fundamentals of the banking industry and its role in socio-economic development to achieve the strategic objectives of the UAE. The meeting praised the steady strong growth of UAE banks in 2024, which maintained high capitalisation levels, strong profitability, sufficient liquidity, and stable financial reserves.

This performance reaffirms effectiveness of the Central Bank of the UAE's vision and efforts to establish the necessary frameworks to develop the banking and financial sector and providing a seamless and secure experience to all customers.