UAE Banks Federation Highlights Progress in the Banking Sector
In a significant gathering, the CEOs Consultative Council of the UAE Banks Federation (UBF) convened for its second regular meeting of 2026. The meeting addressed the latest developments and ongoing challenges affecting the banking and financial landscape.
Strengthening the Financial Landscape
Chaired by H.E. Mohammed Omran Al Shamsi, Vice Chairman of UBF and Chairman of RAKBANK’s Board of Directors, the meeting emphasized the remarkable resilience of the UAE’s banking industry. Supported by the forward-thinking policies of the Central Bank of the UAE (CBUAE), the sector has shown an impressive capacity to adapt to global challenges. This adaptability has enabled UAE banks to continue their contributions towards the nation’s strategic objectives while solidifying their standing in the international banking arena.
During the meeting, attendees reviewed notable achievements made in the first three quarters of 2026. Projects and initiatives designed to keep pace with rapid changes in the banking landscape were also discussed. These efforts reflect UBF’s commitment to delivering a seamless, secure, and advanced banking experience for varied customer segments, aligning with the CBUAE’s objective of reinforcing the UAE as a global hub for banking and finance.
Commitment to Growth and Development
H.E. Al Shamsi remarked, “The banking sector’s ability to sustain strong performance amid a challenging global economy demonstrates the efficacy of the frameworks and initiatives that bolster socio-economic development.” He reiterated UBF’s dedication to staying ahead of emerging trends and adopting best practices. Priorities such as Emiratisation, digital transformation, sustainability, and financial inclusion remain central to their mission.
The Council celebrated the sector’s sustained robust performance, emphasizing strong capital adequacy and reserve levels. The consistent growth in banking assets underlines the efficacy of policies aimed at boosting the banking and financial landscape. The Council underscored the importance of UBF’s initiatives in promoting Emiratisation, highlighting that member banks surpassed Emiratisation targets by 160% in 2025. This achievement is seen as a pathway to further opportunities for UAE nationals and the enhancement of talent development programs within the banking sector.
Enhancing Digital and Financial Inclusivity
The CEOs Consultative Council reiterated UBF’s commitment to adapt to ongoing legislative and technological innovations. Ensuring the safeguarding of the industry’s digital infrastructure is integral to delivering top-notch banking services to customers. The meeting also stressed the significance of financial inclusivity, particularly focusing on the growth of small and medium-sized enterprises (SMEs), crucial contributors to economic expansion. Ongoing efforts to provide innovative finance solutions also aim to align with the Sustainable Development Goals.
Mr. Jamal Saleh, Director General of UBF, offered a detailed analysis of the sector’s performance and the Federation’s achievements during the initial nine months of 2026. He highlighted the strategic role that UBF plays in supporting the UAE’s economic progress. Mr. Saleh stated, “Our councils act as vital platforms for collaboration among key stakeholders within the financial ecosystem, facilitating knowledge exchange that fosters the banking industry’s advancement. These initiatives are essential in maintaining the UAE’s status as a leading financial hub globally.”
The commitment to sustaining growth, transparency, and compliance remains unwavering, aiming to create long-term value for customers, shareholders, partners, and society as a whole. As the banking landscape evolves, the UBF is poised to play a pivotal role in shaping its future.