UAE Banks Federation reviews achievements in conference

Published: Sat 17 Oct 2020, 11:53 AM

Last updated: Sat 17 Oct 2020, 2:01 PM

Abu dhabi — The UAE Banks Federation (UBF) recently held its general assembly meeting via videoconferencing that was spearheaded by its chairman AbdulAziz Al Ghurair and attended by the UBF’s board of directors and representatives from member banks.
During the general assembly, members reviewed and approved the minutes of the previous general assembly meeting held on April 22, 2019, and absolved the UBF’s board of directors and auditors for the financial year ending December 31, 2019.
Members also approved the annual report for the year 2019, the audited financial statements and the auditors’ report for the year 2019 and the appointment of auditor for 2020. They ratified the budget for 2020, and approved strategic objectives and action plan for the year 2020.
Al Ghurair said: “It has been a privilege to see UAE Banks Federation playing a significant role in facilitating positive developments and transformations that are taking place across the banking sector.
Despite the unprecedented global conditions that we are witnessing in this period, as well as the challenging environment of Covid-19 pandemic, we are proud of the UBF’s achievements during 2019 and year to date 2020, particularly in relation to key initiatives aimed at protecting customers and banks against, for example, cyberattacks, as well as enhancing fraud prevention across the banking landscape, in addition to many innovative banking solutions being brought on board.”
“On behalf of the UBF, I would like to thank the board of directors for their guidance and dedication. Together, we will collectively navigate the way forward with the uninterrupted support of our members and technical committees, in addition to the coordination and consultation with the Central Bank of the UAE and other stakeholders and their enormous contributions to the UBF’s success year after year, to further develop sustainable and innovative banking platforms in the UAE, and ensure a robust business continuity during the challenging time of Covid-19.”
Other topics and items on the agenda were also discussed and attended to as well as approved during the Meeting. Finally, the members wished the federation more success and progress in the future.

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