The UAE Banking Federation continues to play a crucial role in supporting the stability and growth of the banking sector. This is underscored by a framework that includes 63 financial institutions and 37 specialized technical committees, in direct coordination with the UAE Central Bank. The federation is focused on establishing the UAE as a leading global financial center while enhancing digital transformation, localization, cybersecurity, and fraud prevention, as stated by Jamal Saleh, the General Director of the UAE Banking Federation, in his interview.
Saleh further elaborated that the localization targets for the “2023-2026” plan have achieved 95% of their goals, through the hiring of thousands of UAE nationals by member banks in the banking and financial sector. He added, “We will intensify our efforts in the upcoming year (2026) to accelerate both the pace and quality of localization within the sector, equipping the Emirati workforce with the necessary skills and abilities to excel in their professional journeys, and providing suitable conditions for training the future leaders of the sector from among the young Emirati talents.”
He noted that the anti-fraud campaigns organized by the Banking Federation for several years have significantly raised awareness about fraud methods, particularly with the rapid digital transformation. Results from a study conducted by the UAE Cybersecurity Council and Trends Research and Consulting Center indicate that 65% of participants now feel confident in their ability to identify fraud attempts. Below is a summary of the interview:
The banking and financial sector in the UAE is witnessing significant growth. What is the role of the UAE Banking Federation in developing the sector?
The UAE Banking Federation operates within a comprehensive banking framework where all financial institutions are supervised directly by the UAE Central Bank. Accordingly, the Federation conducts all its initiatives and projects in full coordination and direct cooperation with the Central Bank to ensure a seamless and secure banking experience for all customers of member banks, while reinforcing the UAE’s leading position as a financial hub in the region and globally.
To support this framework, the Federation employs various mechanisms and, as the representative and unified voice of UAE banks, provides a unique platform for anticipating future trends in the banking sector, leading dialogues between various stakeholders, and innovating suitable banking solutions that meet the demands of different customer segments. Additionally, it ensures compliance with local and international banking regulations and laws.
The banking and financial sector in the UAE boasts leading executives and experts. The structure of the UAE Banking Federation maximizes the benefits derived from these experiences, allowing the sector to enhance its leadership by making informed and effective decisions quickly. Currently, the sector includes consultative and advisory councils comprising the CEOs and general directors of member banks, both national and international, totaling 63 financial institutions. This platform serves as an advisory hub for banking leaders to discuss various issues and utilize their collective expertise in decision-making.
To further leverage expertise available in the banking sector and meet increasing demands amid rapid developments, new specialized technical committees have been established, comprised of exceptional talents (such as AI experts). The Federation now has 37 committees, each specializing in different areas of financial and banking work. This setup provides suitable platforms for knowledge exchange, insights, and experience-sharing, enabling continuous policy and initiative development for the benefit of the banking industry.
What were the significant achievements of the UAE Banking Federation in 2025?
In 2025, the UAE Banking Federation solidified its role in supporting financial stability and sustainable growth. It played a key role in enhancing the resilience of the banking and financial sector through ongoing coordination with the UAE Central Bank and strengthening dialogue channels between banks and regulatory authorities. This ensures balanced policy implementation and maintains the strength of the banking sector, supporting credit growth in alignment with national economic priorities.
We continue to work, in close collaboration with the Central Bank, to achieve the goals of the Emiratization enrichment plan (2023-2026), which has reached 95% of its objectives through employing thousands of citizens in member banks within the banking and financial sectors. We will double our efforts in the coming year to accelerate the pace and quality of localization, equipping the Emirati workforce with essential skills and abilities to excel in their careers, and providing the right conditions for nurturing future leaders in the banking and finance sectors from the youth of the UAE.
Considering the increasing concern regarding financial crimes, could you tell us about the UAE Banking Federation’s efforts to combat banking fraud?
The anti-fraud campaigns we have organized over the years have significantly heightened awareness surrounding fraud methods, particularly as digital transformation accelerates. A study conducted by the UAE Cybersecurity Council and Trends Research and Consulting Center shows that 65% of participants now feel confident in recognizing fraud attempts. The Federation’s efforts have led to substantial advancements in fraud detection and mitigation by embracing advanced technologies, such as artificial intelligence, machine learning, and biometrics, to enhance fraud detection capabilities.
It’s important to reiterate that customer awareness and taking necessary precautions are the first line of defense against fraud. The methods and techniques associated with these crimes evolve rapidly, and efforts from regulatory bodies and banking institutions are complemented by ensuring vigilance and following the updated guidelines that banks continuously provide to customers to ensure a safe banking experience.
The UAE has achieved a global leading position in innovation and financial technology. What initiatives is the Banking Federation pursuing to enhance the culture of innovation?
In line with the UAE’s commitment to boosting innovation in the banking sector, several initiatives were launched within the financial infrastructure transformation program to expedite digital transformation. The Central Bank plays a central role in establishing a robust financial technology ecosystem that focuses on demand, capital, policy, talent, and infrastructure to encourage customer adoption of modern technologies, facilitate access to financing, develop balanced regulatory frameworks, attract talent, and enhance digital infrastructure to support innovation in fintech.
The UAE Banking Federation plays a significant role in facilitating and managing cooperation between banks and fintech startups through workshops, conferences, and meetings to encourage innovation and explore fintech potentials in transforming the banking sector. The fintech ecosystem in the UAE provides a nurturing environment for startups to develop and test their solutions, fostering development while mitigating risks.
Through these initiatives, the UAE is working to foster a culture of innovation in its banking sector, establishing itself as a global center for financial technology. This environment attracts top talents and investments, providing a space for developing financing that is more accessible, efficient, and inclusive, which the Federation continuously supports through its various initiatives and projects.
With the rise of innovation in payments and open banking services, how can we strike a balance between promoting financial innovation and protecting consumer data privacy?
Striking a balance between banking innovation and consumer data privacy in the UAE requires a comprehensive approach, which the country is executing. The privacy regulations developed by the UAE Central Bank align with global standards, such as the General Data Protection Regulation (GDPR).
The UAE emphasizes transparency, consumer education, and cybersecurity measures that protect open banking application programming interfaces (APIs) and consumer data, aiming to foster a thriving open banking system by implementing these measures while maintaining consumer data privacy and building trust.
The Central Bank is leading various initiatives to develop a flexible regulatory framework that promotes innovation while ensuring financial and banking stability, strengthening the UAE’s position as a global center for investments, trade, and business. Supportive regulations and frameworks, such as the National Payment Systems Strategy launched in 2019, have provided an advanced ecosystem enabling financial institutions, companies, and investors to innovate, operate confidently, and manage risks effectively, leading to the development of innovative payment solutions and enhancing customer experiences through creative payment platforms.
Initiatives from the Central Bank, such as the digital dirham and the advanced “Ani” instant payment platform, have dramatically improved the digital payments landscape in the UAE by providing additional channels and enhancing financial inclusion, placing the UAE at the forefront of countries issuing an official digital currency and confirming its readiness to integrate payment infrastructures to accelerate digital transformation and provide efficient additional channels for local and international payments, ensuring a robust and reliable financial system.
How does the federation support the UAE’s status as a global financial hub?
The UAE Banking Federation supports the competitiveness of the banking sector in terms of stability, innovation, and governance, by participating in international events and coordinating with partners. For instance, the UAE has been selected to host the “Sibos 2029” conference and exhibition, a global banking operations conference organized annually by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), following ongoing monitoring by the UAE Banking Federation. This selection underscores the global confidence in the UAE as a financial and banking center, and its leading role in driving constructive dialogues to develop financial and banking services.