The UAE Banks Federation has reaffirmed its commitment to further advancing initiatives aimed at enhancing the digital infrastructure of the financial and banking sectors, as well as combating various forms of financial crime. The federation is fully supportive of all efforts and initiatives proposed by the Central Bank of the UAE and the UAE Government’s Cybersecurity Council, recognizing these as fundamental pillars for ensuring a secure and seamless banking experience. This, in turn, facilitates the sector’s role in contributing to the economic and social development of the UAE.
This announcement came as the UAE Banks Federation received an award for Best Implementation of the Cybersecurity Strategy at the Cybersecurity Excellence Awards, acknowledging the federation’s innovative efforts to create a digital environment that empowers institutions in the financial and banking sector to grow and adapt to rapidly changing global developments.
The federation’s selection for the Cybersecurity Excellence Award, presented by the Cybersecurity Council of the UAE Government, emphasizes its dedication to supporting efforts that ensure a safe banking and financial system. This includes keeping pace with legislative frameworks, regulations, and appropriate technologies to address technological advancements and provide the best services to clients in a reliable banking environment while complying with all laws and regulations set forth by the Central Bank.
Through its initiatives, the UAE Banks Federation plays a vital role in tackling fraud and financial crime while enhancing advanced infrastructure that raises the UAE’s competitiveness, positioning it among the world’s leading countries in digital transformation and cybersecurity.
Jamal Saleh, the Director General of the UAE Banks Federation, expressed pride in receiving this recognition from the Cybersecurity Council of the UAE Government. He emphasized that cybersecurity remains a top priority, with collaboration alongside the Central Bank of the UAE focusing on the importance of a proactive approach to addressing threats and establishing necessary foundations for continued growth, thereby solidifying the UAE’s stature as a leading financial, banking, and commercial hub in the region.
The Director General also highlighted the effectiveness of the annual cybersecurity drills organized by the federation, which are the largest of their kind in the Middle East. These initiatives are crucial for enhancing electronic protection systems and providing a secure and advanced environment for clients.
He praised the pioneering role of the Central Bank of the UAE in establishing appropriate frameworks that ensure customer protection and strengthen the financial and banking system while providing a conducive environment for fostering growth and economic stability.
Furthermore, he noted that these measures have significantly boosted customer confidence in the banking sector in the UAE, which continues to lead among the world’s premier financial and banking centers, enjoying nearly 90% customer trust. The banking sector has maintained its position as the most trusted sector among clients in the country.