UBF approves strategic goals and plans for 2026

Gulf Today, Staff Reporter

The UAE Banks Federation (UBF), the sole representative and unified voice of UAE banks, held its Annual General Meeting in the presence of representatives of all its member banks. The AGM approved strategic goals and plans of UBF for 2026, endorsed by UBF Board of Directors during its meeting held prior to the AGM, to further advance the banking sector and reinforce the UAE’s leading position among the world’s best financial and banking centres.

Participants at the AGM emphasised the importance of the UAE’s banking and financial sector’s achievements under the direct supervision of the Central Bank of the UAE, as well as the high resilience of the financial and banking industry and its ability to adapt to global changes and challenges, which has further strengthened the UAE’s leading global position.

During the meeting, the members approved the previous minutes of the AGM held in April 2025, the audited financial statements for 2025, and the auditors’ report. The meeting stressed the priority of supporting strong fundamentals of the banking industry and enhancing its role in economic development and achieving the UAE’s strategic objectives. It noted that the continued strong performance of UAE banks in 2025, reinforcing the sector’s leadership position both regionally and globally, with total assets of UAE banks reaching Dhs 5.4 trillion. The credit portfolio grew by 17.9% and deposits increased by 16.2%, while maintaining high levels of capital adequacy and liquidity ratios exceeding regulatory requirements and international standards.

The UBF’s AGM praised the comprehensive proactive support package approved by the Board of Directors of the Central Bank of the UAE, chaired by His Highness Sheikh Mansour bin Zayed Al Nahyan (Vice President of the UAE, Deputy Prime Minister, Minister of the Presidential Court, and Chairman of the Central Bank),  to enhance resilience and reinforce the stability and strength of the UAE banking sector amid the exceptional circumstances affecting the region and the global economy.

Participants also highlighted the efforts made by the Federation in advancing Emiratisation in line with the CBUAE’s plan. UBF’s member banks exceeded the 2025’s targets by 160%, leading to a further increase in Emiratisation across the banking sector. The AGM reaffirmed its commitment to continue these efforts and enhance human capital development programmes, particularly for Emirati talent, in line with the rapid growth of the banking and financial sector and digital transformation.

Members of AGM expressed their appreciation for UBF’s initiatives and programmes during 2025, which contributed to strengthening the UAE’s global position in trust indicators, where the UAE ranked first globally. Attendees also highlighted the effectiveness of the Federation’s initiatives in accelerating digital transformation, protecting digital infrastructure, combating fraud, and reinforcing the integrity and soundness of the financial system. The encouraged these initiatives and efforts to expand financial inclusion, support entrepreneurs and SMEs, and promote sustainable finance in alignment with the UAE’s national objectives.

The AGM commended UBF’s efforts in strengthening cooperation with strategic partners and its vital role in securing the UAE’s selection to host Sibos 2029, the world’s leading annual banking operations conference organised by the Society for Worldwide Interbank Financial Telecommunication (Swift).

The meeting hailed efforts of UBF’s General Secretariat and advisory and technical committees, which bring together prominent banking executives and provide appropriate platforms for knowledge sharing and the development of strategies and initiatives. They emphasised the importance of awareness and training programmes organised by the Federation to keep banking professionals informed of the latest developments, keep pace with industry changes, and provide suitable platforms for exchanging ideas to advance banking and financial sector.

Commenting on the AGM,  AbdulAziz Al Ghurair, Chairman of UBF, said: “Building on the strong foundations of the UAE economy, the banking and financial sector continues its growth and development journey, as reflected in the positive growth indicators across all areas as well as the financial soundness standards. The decisions and recommendations of the AGM serve as a roadmap for UBF and member banks to focus on the strategic priorities for 2026, supporting the next phase of growth and development of the banking and financial sector, its positive contribution to socio-economic development, and further strengthen the UAE’s position as a global financial and banking hub.”