Abu Dhabi: UAE Banks Federation (UBF) has confirmed that Dubai's selection as the host city for SIBOS 2029 reflects the international community's confidence in the UAE's leading role in the financial, banking, and payments industry.
According to Emirates News Agency, the choice of Dubai underscores the UAE's established position as a key player in global finance. The UAE previously became the first country in the Middle East and Africa to host SIBOS in 2013. The event was previously held in major financial hubs like Singapore, Geneva, Toronto, London, Amsterdam, and Beijing.
The decision to host SIBOS 2029 in Dubai results from efforts by UBF, in collaboration with partners such as Dubai International Financial Centre (DIFC), Dubai World Trade Centre (DWTC), and Dubai Department of Economy and Tourism (DET), with crucial support from the Central Bank of the United Arab Emirates (CBUAE).
SIBOS 2029 will offer UAE banks a platform to showcase the advancements in the country's financial and banking sectors to participants from SWIFT. The event annually draws over 10,000 leaders from financial institutions, banks, fintech companies, suppliers, and service providers worldwide.
UBF has reiterated its commitment to collaborating with its strategic partners and CBUAE to ensure the success of this international event. Abdulaziz Al-Ghurair, Chairman of UBF, remarked that hosting SIBOS 2029 affirms the UAE's status as a regional and global financial hub and acknowledges the UAE's strides in digital transformation and secure banking systems.
The UAE has established a Steering Committee and National SWIFT User Group (NMG) to drive improvements in payment operations and bank transfer security within the MENA region. Since its inception in 2021, NMG has contributed significantly to enhancing banking operations and employee capabilities within the UAE's financial sector.
Additionally, the SWIFT User Training Centre, under UBF's umbrella, offers training and certification for SWIFT users in the MENA region, enhancing the skills of UBF members and other SWIFT users.
Jamal Saleh, Director-General of UBF and Chairman of SWIFT User Group Steering Committee in the UAE, expressed pride in Dubai's selection as the host city for SIBOS 2029. He emphasized the importance of this event in promoting socio-economic development and advancing payment technologies under the guidance of the Central Bank of the UAE.
The Central Bank of the UAE's initiatives align with the National Payment Systems Strategy, launched in 2019, to foster innovative payment solutions and improve customer experience. These efforts further the UAE's reputation in technological development and innovation within the financial sector.
Jamal Saleh reiterated UBF and SWIFT User Group Committee's dedication to working with local, regional, and international partners to ensure the successful organization of SIBOS 2029, highlighting the UAE's role as a financial, banking, and commercial hub.
Commenting on the event, Ms. Marianne Demarchi, Chief Executive of Swift EMEA, expressed delight at bringing SIBOS back to Dubai, recognizing its status as a global financial hub and its strategic geographical location for fostering industry dialogue and debate.
