Dubai: The UAE Banks Federation (UBF) has reiterated its commitment to enhance the efforts of its member banks to develop the necessary frameworks, under the direct supervision of the Central Bank of the UAE. This ensures the best utilisation of advanced technologies in the banking industry and maintains the UAE's leading position in driving financial and banking innovation and providing an advanced, smooth, and secure experience for all customers.
According to Emirates News Agency, UBF stressed that the banking industry is among the best sectors in adopting and employing advanced technologies. The financial and banking sector in the UAE is keen to accelerate the digital transformation to keep pace with the rapid developments in technology to meet customer requirements, and contribute to the socio-economic development of the UAE.
This came at the MEA Finance Banking Technology Summit and Awards 2025, held in Dubai. More than 500 experts, bank CEOs, business leaders in the banking sector, fintech companies and advanced technologies discussed opportunities, challenges and ways to enhance integration and partnerships between banks and fintech companies.
In his keynote speech at the summit, Jamal Saleh, Director-General of UBF, highlighted the role of technological advances in shaping the financial and banking sector. He emphasized the sector's commitment to employing advanced technologies to provide banking services that meet customer requirements and contribute to economic growth and diversification in the UAE, under the guidance of the Central Bank of the UAE.
Saleh reiterated the UAE's leadership in innovation through initiatives that accelerate digital transformation in alignment with the UAE government's digital strategy. This strategy aims to double the digital economy's contribution to the GDP while ensuring the protection of digital infrastructure and cybersecurity.
He further mentioned that the supportive legislation and regulatory frameworks by the Central Bank of the UAE facilitate an integrated ecosystem for financial institutions, technology companies, and investors, allowing them to innovate confidently and manage risks efficiently. UBF continues to support member banks in modernizing their technology infrastructure and developing digital channels.
Saleh stressed the importance of integrating advanced technologies and financial services for the continued development of the banking industry. He noted that UAE banks are already utilizing blockchain, artificial intelligence, data analysis, and cloud computing to enhance services and effectively manage operations.
He advocated for continued investments in digital infrastructure, appropriate cybersecurity frameworks, and a regulatory environment that fosters innovation while protecting customers and the financial system. He also emphasized developing human capital, especially Emiratis, and increasing awareness of digital services, cybersecurity, anti-fraud measures, and sustainable financing aligned with environmental, social, and governance standards.
The summit sessions included discussions on technology's role in enhancing banking and financial services, maintaining system security within regulatory frameworks, improving customer service, and using data to tailor services to various customer segments.
The MEA Finance Banking Technology Awards 2025 recognized the achievements of banks and technology businesses in delivering smarter banking solutions and promoting digital transformation by developing advanced systems and solutions that cater to digital age requirements.