UAE Banks Federation is looking to develop innovative platforms – economic...

UAE Banks Federation is looking to develop innovative platforms – economic...
UAE Banks Federation is looking to develop innovative platforms – economic...

The Federation of Emirates Banks yesterday held a virtual annual general meeting chaired by Abdulaziz Al Ghurair, President of the Federation and in the presence of the Board of Directors and representatives of the member banks.

The members approved the minutes of the previous ordinary general meeting held on April 22, the audited financial statements and the auditors’ report for the year 2019, and absolved the members of the Board of Directors and the auditors for the fiscal year ending on December 31, 2019. The members also approved the annual report for the year 2019, and the budget was approved. The estimates, strategic objectives and work plan for the current year, and the appointment of auditors for the fiscal year 2020.

A positive development

Abdul Aziz Al Ghurair, Chairman of the Board of Directors of the Federation of Emirates Banks, said: “I am proud to see the Federation of Emirates Banks playing an important role in contributing to the positive development in the banking sector. We will seek to continue developing sustainable and innovative banking platforms in the UAE, to ensure the strength and continuity of banking business during the challenging period of “Covid 19”.

He added: Despite the unprecedented global conditions that we are witnessing, and the difficult work environment due to the “Covid 19” epidemic, we are proud of the Union’s achievements during 2019 and the elapsed period of 2020, especially with regard to initiatives concerned with protecting customers and banks from cyber attacks, and strengthening the fight against fraud and fraud. In the banking sector, in addition to providing many innovative banking solutions.

Ongoing support

Al Ghurair thanked the members of the Council for their permanent cooperation, stressing that they would continue to move forward through the continuous support of the union’s members and its specialized committees, and in coordination and consultation with the Central Bank and our partners in the banking sector in light of their great contributions to the success of the UAE Banks Federation year after year. During the meeting, other topics and items on the agenda were discussed and approved. In conclusion, the members of the Council and the member banks wished the attendance more progress and success for the Union of Banks in order to improve the banking sector.


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