UBF meeting discusses Emiratization Project

ABU DHABI: The CEOS’ Advisory Council of UAE Banks Federation (UBF), the representative and unified voice of UAE’S banking sector, held its 2nd meeting of the year on Monday. The meeting, held virtually, was presided over by Abdulaziz Al Ghurair, Chairman of the Board of UBF.

Top on CEOS agenda were the ongoing Emiratization Project to discuss the final stages of the findings and outcomes for the implementation of employing 7,500 UAE Nationals in the banking sector as well as the impending rollout of the 2nd phase of UBF’S Ethical Selling Framework, which seeks to draw upon global best practices to put in place a framework for ethical selling practices to be adopted uniformly by UBF members, all of which is to help enhance customer protection.

The meeting also reviewed the progress of the National Fraud Awareness Campaign – a wideranging initiative performed for the 2nd year by UBF and with direct collaboration with Central Bank of the UAE, Abu Dhabi Police, Dubai Police, and TDRA (Telecommunication) and is aimed at educating customers to protect themselves from financial cybercrime and fraud, and will run by all UBF members until the end of 2021.

UBF’S CEOS Council also agreed to set in motion the 2nd phase of UBF’S Cyber Wargaming Exercise – an interactive technique aimed at improving the cyber incident response preparedness of financial institutions by placing participants in a simulated cyberatack scenarios – with a larger number of UBF banks and other authorities participating and being added this time.