Business & Money | Tuesday 5 November, 2019 12:42 pm |

The UAE Banks Federation (UBF), in collaboration with the Central Bank of the UAE, has successfully concluded the 7th edition of the Middle East Banking Forum (MEBF). The event witnessed over 500 industry leaders and experts from the all over the region gather in a series of thought-provoking panel sessions that addressed key topics affecting the industry, including digital transformation, cybercrime and fintech.

 

Held at the Fairmont Bab Al Bahr in Abu Dhabi, the day began with a welcome speech from H.E AbdulAziz Ghurair, Chairman of UAE Banks Federation and opening remarks from H.E. Mubarak Rashed Al Mansoori, Governor of Central Bank of the UAE.

 

H.E Mubarak Rashed Al Mansoori then participated in an engaging conversation around ‘The pursuit of a stable and robust financial system’’, where he analysed the actions policymakers can adopt to mitigate financial risk. This was followed by an open Q&A session with the media.

 

Several other discussions took place throughout the day, moderated by Richard Dean, presenter of Dubai Eye’s Business Breakfast show; Dan Murphy, CNBC Correspondent; and Dr Sayd Farook, Vice Chairman, Board of Trustees, Responsible Finance and Investment (RFI) Foundation. These sessions were on ‘The Future of Finance’, ‘Managing Risk in A Digital World’, ‘Banking for Millennials – A Roadmap to Loyal Customers’, and ‘The Next Stage of Evolution for the Global Islamic Finance Industry’.

 

Commenting on MEBF 2019, H.E AbdulAziz Ghurair, said: “Bringing together key stakeholders from across the banking industry is crucial to the growth and stability of the global financial lanscape. Once again we have concluded another successful round of MEBF, which year after year has proven to be a vital platform for encouraging collaboration and knowledge sharing, and unlocking the future of the industry. I would also like to extend a special thanks to all our attendees for their enthusiasm, encouragement and support throughout the day. ”

 

To commemorate this year’s Flag Day, H.E AbdulAziz Ghurair gifted H.E. Mubarak Rashed Al Mansoori a painting of Sheikh Zayed bin Sultan al Nahyan the founding father and the principal driving force behind the formation of the UAE, which was designed by Maitha Alattar, an Emirati creative artist  who is known for participating in multiple collaborative exhibitions across the UAE and abroad. 

 

In addition, UpUp company, a B2B white-label solution for banks that want to expand a customer base and get children as new clients, were crowned the winners of the MEBF’s ‘Wild Idea?’ competition,  where young entrepreneurs were tasked to present the best innovative banking solutions to promote transformation in the industry.

 

Varouj Nerguizian, CEO of Bank of Sharjah, said: “Bank of Sharjah is pleased to be a sponsor in the Middle East Banking Forum organized by UAE Banks Federation; A federation that is raising the standard in the banking and financial services industry, leading to a significant impact towards the economic development of United Arab Emirates.”

 

Akram Elbaloula, Country CEO, Bank Of Khartoum, UAE, said: “BOK International Bank's second consecutive sponsorship of the forum emphasizes its belief in UBF's significant role in enhancing and promoting the banking industry in the UAE and the Middle East. Having over 100 years of banking experience and over 36 years of Shariah-compliant banking practice, we are delighted to have positively contributed to the successfulness of the forum, and to have actively participated in bringing insightful solutions to unlock the future of Islamic banking.”

 

Middle East Banking Forum official prestigious banking sponsors are: First Abu Dhabi Bank (FAB) as the gold sponsor; Emirates NBD, Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), Commercial Bank of Dubai (CBD), Bank of Sharjah (BOS), and Bank Of Khartoum (BOK) are the lead banking silver sponsors; Visa is the exclusive payments partner; Al Suwaidi & Co is the associate sponsor; Sky News Arabia is the regional Broadcast Partner; and CNBC Arabia as the official Business broadcaster.