UAE banking sector shows resilience in the face of global challenges

Jamal Saleh, Director General of the UAE Banks Federation (UBF), emphasised the resilience of the UAE banking sector in the face of global challenges. He attributed this success to the effective strategies implemented by the Central Bank of the UAE (CBUAE), which creates the foundation for the sector's sustainable growth.

Saleh highlighted the UAE Central Bank's commitment to adhering to strict regulations that protect the integrity of the banking sector from the challenges faced by major global banks. Expressing confidence in the sector's continued achievements, he reported a remarkable growth of 1,200 per cent over the past two decades, representing a twelve-fold increase.

Saleh also said that customer confidence in the banking sector is growing.

Emphasising UBF's commitment to a safe and smooth banking environment, Saleh affirmed adherence to global risk management standards. The banking sector of UAE, recognised for its innovation and use of technology, operates under the supervision of the central bank to keep pace with technological advancements. This is reported by ANI, a partner of TV BRICS.

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