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Annual report from UAE Banks Federation

Abu Dhabi - Some noteworthy examples of the subject areas focused on in 2014 included SME financing, close-out netting, anti-money laundering, customer charter and Emiratisation."

The UAE Banks Federation has released its annual report for 2014, detailing its priorities, achievements and activities undertaken during the full year.
In his introduction to the report, chairman Abdulaziz Al Ghurair identified in particular the Interim Marginal Lending Facility; work coordinated by the federation on the mobile wallet; support given by the federation for the launch in September of the Al Etihad Credit Bureau; and the customer charter as major achievements.
He said: "Discussion of best practice, identification of threats to the industry and development of common positions on issues of significance to member banks continued to be the principle goals of all the Federation specialised committees. Some noteworthy examples of the subject areas focused on in 2014 included SME financing, close-out netting, anti-money laundering, customer charter and Emiratisation."
The annual report also highlighted other proposals that the UAE Banks Federation put forward during the year. One major proposal was about how banks could further support the development of small- to medium-sized enterprises in the UAE.