Union of Arab Banks Approves Regional Expansion and International Partnership

Union of Arab Banks (UAB) held today its annual general assembly at the sidelines of the Arab banking Conference 2012 in Abu Dhabi under the slogan “Challenges of The Arab Economic Security”.

The general assembly approved UAB’s resolutions and final accounts for the ended FY as well as Arab Academy for Banking and Financial Sciences.

The general assembly also approved UAB’s 2012 plan including supporting the presence of the Union in the Maghreb Arab and Arab gulf countries, increasing the training activities, improving financial revenues and communicating with countries witnessed turmoil and transitions such as Iraq, Syria, Libya and Yemen.

UAB also adopts many strategic projects in 2012 such as activating the role of Arbitration and Mediation Center, cooperating with Arab banking Corporation, studying U.S. Fair and Accurate Credit Transactions Act (FACTA), establishing an Arab center for social responsibility, launching research center for Arab economies studies in collaboration with International Monetary Fund, issuing annual Arab banking report and establishing Union of Francophone Banks in collaboration with French government.

UAB targets implementing a qualitative improvement regionally and internationally in UAB’s role and method, cooperating with international institutions, seeking to participate in taking international important decisions and encouraging Arab banks to further cooperate.

UAB also seeks doing economic studies projects jointly with World Bank, financing SMEs jointly with financial institutions, launching social responsibility initiative in Middle East region jointly with Islamic Development Bank and participating in Financial Action Task Force meetings.

The general assembly of UAB approved some methods for supporting its regional presence such as establishing an office in Tunisia, Egypt, Jordan, Yemen and Sudan and re-opening its office in Abu Dhabi. In addition, the methods include setting programs in French through agreements with the French government in collaboration with French assembly and banks and ESA University.

UAB aims at improving the quality of the services offered in collaboration with World Bank, Basel Committee and International Financial Institution as well as focusing on financing SMEs, implementing Basel III regulations and managing risks in Arab banks.

In addition, general assembly approved holding many symposiums and forums in the first quarter of the current year in 11 countries namely; Cairo, Jordan, Damascus, Lebanon, Khartoum, Kuwait, Libya, Turkey, Abu Dhabi, Tunisia and Bahrain.

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