Abu Dhabi, UAE – 18 September 2026:
The CEOs Advisory Council of the UAE Banks Federation (UBF), the sole representative and unified voice of UAE banks, held its second quarterly meeting, to review the performance of the banking and financial sector, discuss the latest developments, and assess progress in implementing UBF’s initiatives and plans to further develop the UAE’s banking and financial sector during 2026.
The meeting commended the achievements of the UAE’s banking and financial sector in strengthening the country’s position as a leading global financial centre. Participants also welcomed the selection of H.E. Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE), among the world’s highest-graded central bank governors for 2026. The annual ranking of central bank governors, published by Global Finance, the international financial magazine, reflects the effectiveness of the CBUAE’s role in promoting monetary and financial stability, as well as the efficiency and resilience of the financial system and consumer protection.
The UBF CEO Advisory Council also highlighted the CBUAE’s forward-looking vision and proactive approach to developing appropriate regulatory frameworks for the banking sector. These efforts continue to support the sector’s development and reinforce the UAE’s position among the world’s leading financial and banking centres.
The meeting noted the strong performance of the banking sector during the past period, while maintaining high levels of capital adequacy and liquidity that exceed regulatory requirements and international standards. This performance was achieved despite the geopolitical and economic challenges witnessed across the region and globally, underscoring the resilience, strength, and ability of UAE banks to respond positively to changing circumstances.
The meeting also reviewed progress in implementing UBF’s plans to further develop the banking and financial sector and maintain its leading position. Participants emphasised the importance of continuing these efforts and initiatives to support Emiratisation, sustainability, governance and financial inclusion, as well as small and medium-sized enterprises (SMEs).
Participants commended the fifth edition of Cyber Wargames 2026, organised by UBF under the supervision of the CBUAE and the UAE Cyber Security Council. They highlighted the importance of the initiative in protecting the digital infrastructure and ensuring a seamless and secure banking experience for all customers.
The meeting also expressed UBF’s appreciation for the CBUAE’s initiative to issue a commemorative silver coin in recognition of the Federation’s contributions and its effective role in supporting the development of the UAE’s banking and financial sector since UBF’s establishment in 1982.
The UBF CEO Advisory Council further reviewed the CBUAE’s efforts to advance digital transformation, the initiatives of the Financial Infrastructure Transformation Programme (FIT), and the role of UBF member banks in supporting these initiatives.
H.E. Abdulaziz Al–Ghurair, Chairman of UBF, said: “We reaffirm our commitment to continuing our efforts and initiatives that contribute to strengthening the resilience and strength of the UAE’s financial and banking industry, while enhancing its ability to adapt to global changes and challenges.”
H.E. praised the CBUAE’s initiatives in Emiratisation, digital transformation and the protection of digital infrastructure, as well as its efforts to safeguard the integrity and soundness of the financial system and support entrepreneurs, SMEs and sustainable finance.
H.E. Al–Ghurair added: “The strong performance of the banking and financial sector in recent months demonstrates the efficiency and effectiveness of the strategies and policies adopted by the CBUAE to strengthen and empower the sector to address challenges and respond to developments in the global economy, as well as regional and international geopolitical developments. Within this integrated framework, the UAE banking sector has continued to record strong growth in assets, credit, deposits and liquidity. This demonstrates the growing confidence in UAE banks and their ability to finance individuals, businesses and productive sectors, while fulfilling their role in supporting economic and social development.”
H.E. Al-Ghurair noted that total assets of banks operating in the UAE rose to AED 5.669 trillion by the end of July 2026, representing monthly growth of 1.3%.
Gross bank credit increased by 1.5% month-on-month to AED 2.799 trillion, driven by a 1.4% increase in domestic credit to AED 2.206 trillion and a 1.8% increase in foreign credit to AED 592.9 billion. The private sector remained the main driver of domestic credit growth.
Total bank deposits also increased by 1.1% month-on-month to AED 3.5 trillion, while non-resident deposits rose by 6.8% in a single month to AED 311.4 billion, further demonstrating growing confidence in UAE banks”.
H.E. Al-Ghurair concluded: “We reaffirm our commitment to the UBF’s continued efforts to drive development and strengthen the resilience, strength and capabilities of the banking sector, enabling it to keep pace with global economic developments and contribute to achieving the UAE’s strategic objectives.”