Abu dhabi: The CEOs Consultative Council of UAE Banks Federation (UBF) held its first regular meeting for 2026 under the chairmanship of Mohammed Omran Al Shamsi, Vice Chairman of UBF and Chairman of the Board of Directors of RAKBANK, to review global and regional developments and challenges, and explore ways to address them in order to achieve UBF's strategic plans and enhance the role of the banking and financial sector in advancing the UAE's strategic objectives.
According to Emirates News Agency, the Council commended the strong performance of the banking sector during 2025, and reaffirmed the UAE banking and financial sector's ability to continue growing and prospering under the direct supervision of the Central Bank of the UAE (CBUAE), which is leading efforts to develop the sector by establishing the necessary frameworks to safeguard financial stability, strengthen monetary and regulatory legislation, and advance the banking, financial, and insurance sectors.
Mohammed Omran Al Shamsi, Vice Chairman of UBF and Chairman of the CEO Consultative Council, highlighted the sector's growth, noting its position as the largest banking and financial sector in the Middle East with AED5.4 trillion in total assets. He emphasized the sector's strong Emiratisation performance, which exceeded 2025 targets by around 160 percent, and reiterated the commitment to supporting socio-economic development by enhancing capabilities and delivering innovative products and services.
Al Shamsi further mentioned the sector's achievements in maintaining robust capital adequacy, provisions, and reserves, which reflect its ability to grow while adhering to regulations, governance standards, transparency, and sustainability. He noted that the meeting discussed the sector's performance, UBF's achievements during 2025 and the first quarter of 2026, and future plans, highlighting the importance of coordination, knowledge-sharing, and leveraging UBF platforms to support industry development.
The meeting underscored the significance of enhancing Emiratisation in the sector, praising member banks' efforts in creating opportunities for UAE nationals and developing talent in line with global standards. It also reviewed UBF's achievements and initiatives, commending technical committees and executive management for their role in supporting decision-making through research and consultations.
Participants stressed the importance of continuing initiatives launched by the Federation to provide an advanced, secure, and seamless banking experience, reinforcing the UAE's position as a global banking and financial hub. They praised UAE banks' efficiency in addressing global challenges and emphasized maintaining the sector's leading position through legislative, regulatory, and technological advancements, as well as supporting financial inclusion, SMEs, entrepreneurs, and sustainable finance solutions.
