UAE Banks Federation
- Established at the end of 1982 as the Association of National Banks
- Licensed by the Ministry of Labour and Social Affairs on 19 July 1985 (Declaration No. 102/52 of 1985)
- Name changed to “Emirates Banks Association “ by Ministerial Resolution No. 23 of 30 January 1986
- Becomes UAE Banks Federation in February 2013 according to Ministerial Resolution No. 42/2013
Established in 1982, the UAE Banks Federation is a professional representative body of 50 member banks operating in the UAE. The Federation advocates banks’ interests, and enhances cooperation and coordination among them, in order to promote and upgrade the UAE’s banking industry for the benefit of the banking sector, its customers, and the national economy.
Since its inception as the Association of National Banks, then the Emirates Banking Association, the Federation has been enhancing cooperation, communication and interaction between member banks. It provides them with a platform to exchange ideas, opinions and information, and also plays a major role in raising public awareness around the beneficial role and distinctive financial, economic and social contribution of the banks to the UAE economy, as well as their collective views on matters of mutual concern.
It also offers representational leadership for member banks by developing solutions to meet the changing needs of the marketplace, and facilitates training and research among its members.
The Federation’s mission and objectives are focused on developing and representing the interests of its member banks and defending their rights. It facilitates the exchange of banking, financial and monetary information, and coordinates cooperation around banking procedures and in the areas of legal, technical and administrative affairs.
Its vision is to be recognized as the distinguished professional representative and the dynamic voice of the banking industry in the UAE. The Federation’s principal values include upholding professionalism among member banks, promoting integrity and transparency towards the community they serve and in which they operate, and supporting ongoing efforts to apply innovation and creativity by the UAE banking industry to better serve its customers.
The Federation delivers superior value and benefits to member banks, enabling them to build competitive and sustainable businesses which support the economy, customers and society.
The Federation is managed by Board of Directors made up of nine members who are responsible for planning, policy-making and supervision of all of its activities and elected every three years. The Federation has also an Advisory Council consisting of Bank CEOs which oversees the implementation of the policies, follows up on Federation’s activities and makes the necessary decisions on all issues of concern to the banking sector. Also, the Federation has nine specialized technical committees , covering all relevant banking issues as well as research.