UAE to strengthen its global status as financial dialogue destination

UAE Banks Federation (UBF), the sole representative and unified voice of UAE banks, has affirmed that its efforts to host SIBOS 2029, the world’s premier global financial services conference and exhibition, organised annually by the Society for Worldwide Interbank Financial Telecommunication (Swift), aim to further strengthen the UAE’s position as a leading destination for major international events and driving constructive dialogue to advance banking and financial services.

This initiative is carried out under the direct supervision of the Central Bank of the United Arab Emirates (CBUAE), and in full cooperation with UBF’s strategic partners; Dubai International Financial Centre (DIFC), Dubai World Trade Centre (DWTC), and Dubai Department of Economy and Tourism (DET).

AbdulAziz Al-Ghurair, Chairman of UBF, highlighted during a press conference the steps being taken to host this global event in a manner that reflects the UAE’s ‘status as an international financial and banking hub. The press conference was attended by Mr. Javier Pérez-Tasso, Chief Executive Officer of Swift, and members of UBF’s Advisory Council comprising CEOs of member banks.

H.E. Al Ghurair said: “The selection of Dubai to host SIBOS for the second time reflects the deep confidence that the global financial and banking community places in the UAE and its progress, underpinned by a secure, advanced, and interconnected financial ecosystem developed under the supervision of the Central Bank of the UAE. The UAE is the only country in the Middle East and Africa ever chosen to host this global event. Organising SIBOS aligns with the country’s strategic priorities and the ‘We the UAE 2031’ vision, which places strong emphasis on innovation, economic diversification, and digital leadership. It positions the UAE at the forefront of global discussions shaping the future of payments and financial services.”

H.E. added: “Since the UAE first hosted SIBOS in 2013, it has continued rapid development, consolidating its position among the world’s top financial and banking centres and at the forefront of digital transformation and regulatory excellence. The UAE has made significant advancements in building secure and efficient payment systems, supported by CBUAE’s forward-looking vision, including the modernisation of payment infrastructures, the adoption of digital currencies, and the enhancement of cross-border transactions.

At UBF, we reaffirm our full commitment to working with all stakeholders to ensure the success of SIBOS 2029, and to strengthen its role as a powerful platform for shaping the future of payments and financial services.”

Mr. Javier Pérez-Tasso, CEO of Swift, said: “We are delighted to be gathering the global financial industry for its annual flagship event in Dubai in 2029. As a leading global financial hub, it is fitting that the city will be hosting this industry event.”

Since 1978, Swift has been organising Sibos annually in one of the international financial and banking centres that are selected from among major cities contending to host the conference and exhibition, which provides a global platform for leaders of financial and banking institutions, major economic institutions, and technology providers. SIBOS conference and exhibition is one of the most important and largest events that connects thousands of executives, decision makers, technology providers, and thought leaders from across the industry to share experiences and views. Swift enables more than 11,000 financial institutions and corporations in more than 200 countries and territories to connect and exchange financial information securely and reliably, enhancing trade and financial transactions.

Mr. Jamal Saleh, Director General of UBF and Chairman of Swift User Group Steering Committee in the UAE, said: “We reaffirm our commitment at UBF and the UAE Swift Users’ Group to work closely with local, regional, and international partners to organise SIBOS 2029 in a manner befitting the UAE’s status as a global financial, banking, and commercial hub.”

He added: “The UAE’s selection to host SIBOS 2029 reflects its expanding role in global finance, payments, and trade, supported by major advancements in the payments landscape and the adoption of advanced technologies under the direct supervision of the Central Bank of the UAE. CBUAE continues to set the frameworks necessary to accelerate digital transformation and enhance the customer experience, while ensuring compliance with local and global regulations.”

Mr. Saleh emphasised that hosting SIBOS 2029 represents an opportunity to showcase the UAE’s digital transformation and its positive impact on economic and social development, as well as to strengthen global partnerships, attract investment in financial and technology services, and facilitate knowledge exchange in the sector.

He noted that the UBF’s initiatives play a key role in enhancing the readiness of financial institutions in the field of payments. UBF has established the Steering Committee and National Swift User Group (NMG), which includes representatives from Swift’s Regional Office in Dubai, as the first of its kind in the Middle East and North Africa (Mena) region.