UAE Banks Fed­er­a­tion Board fo­cuses on pri­or­i­ties for ‘16

The Pak Banker - - COMPANIES/BOSS -

The Board of Di­rec­tors of the UAE Banks Fed­er­a­tion, UBF, has held its first meet­ing of the year, headed by the Chair­man of UBF, Ab­dul Aziz Al Ghu­rair, to dis­cuss progress on a num­ber of high pri­or­ity top­ics for the fed­er­a­tion this year. The top­ics in­cluded progress on the Mo­bile Wal­let pro­ject, and the cre­ation of a Higher Sharia Board, due to be in­tro­duced soon un­der the su­per­vi­sion of the UAE Cen­tral Bank, which is in­tended to strengthen con­sis­tency and con­sul­ta­tion across the Is­lamic fi­nance in­dus­try in the UAE.

The board also re­viewed reg­u­la­tions gov­ern­ing risk man­age­ment and liq­uid­ity in UAE banks, the con­tin­u­ing chal­lenge of de-risk­ing, close net­ting, and the pro­gramme be­ing fi­nalised by the fed­er­a­tion to ad­dress cash flow and debt prob­lems faced by small and medium sized en­ter­prises in the UAE.

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