The UAE’s resilient banking sector has overpowered the challenges it was facing, said Abdul Aziz Al Ghurair, chairman of the Emirates Banks Association.
Al Ghurair, speaking to the annual general meeting of the EBA, commended the UAE banking sector on overcoming various challenges and its commitment to implement the highest international standards. “This includes the International and regional reports issued recently indicating healthy signs in the industry, most specifically the IMF and the World Bank and global rating agencies,” he said.
The annual report for the Emirates Banks Association showcased the resilience of the UAE Banking sector and its capability to withstand the global financial crisis, reflecting the safety of the financial sector and its success in supporting the economy. This impacting in ranking the UAE in a leading position in the global indicators, the report said.
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