Established on March 13, 1973, the Union of Arab Banks (UAB) was created in accordance with its first General Assembly meeting held in Beirut, Lebanon, under the umbrella of the Arab Administrative Development Organization (AADO). Conclusively, this effort was from the desire to establish an Arab Federation that works within the framework of the unions emanating from the League of Arab States.
The UAB is financially, administratively, and an organizationally autonomous entity and serves as a comprehensive organization representing the Arab banking and financial community. giving key support to Arab Banks, financial institutions, economic organizations and banking institutions with mutual support and connections to the Arab world.
- Justly defend the interests of its member institutions towards third parties.
- Orchestrate the coordination and harmonization of legislation and regulations related to Arab banking and financial sectors, ensuring their growth, prosperity, and staff development.
- Provide professional development and training opportunities to financial and banking institution staff and member organizations.
- Support efforts to establish Arab common market and Arab economic integration.
- Enhance trade relations and investments among Arab nations, providing guidance and advice to banks and presenting and promoting trade and investment opportunities.
- Human Resource Management and development training to create effective, efficient, and highly qualified personnel within banking and financial sector.
- Provide trainings to engage support and administrative staff within banking and financial sector to enhance and further develop specialized skills and create culture of administrative proficiency.
- Create, prepare, and authenticate research studies on common development and investment opportunities among Arab nations, facilitating their financing through UAB member institutions.
- Provide arbitration, conciliation, and guidance services through UAB’s Center for Arbitration and Conciliation.
- Develop and implement a culture of Social Responsibility among UAB membership institutions and staff.
- Provide availability to Arab financial and banking laws, rules, policies and regulations within the Arab banking sector.
- Development of the “Arabization,” harmonization, and standardization of foreign financial and banking terminology and models to provide clarity, knowledge, and consideration within the region.
- Serve as a vital conduit between international agencies and organizations and the Middle East and North Africa (MENA) region to aide in the process of drafting, developing, and enhancing banking and financial laws, legislation, policies, regulations, and systems throughout local, regional, and international arenas.
- Raise awareness and increase knowledge throughout banking and financial sector to promote the growth and expansion of banking business and Islamic banking services.
Headquarters and Regional Offices
The Union of Arab Banks’ headquarters, located in Mina Al Hosn district of Beirut in the Republic of Lebanon also houses the World Union of Arab Bankers, an entity established with the backing of the UAB, to engage, promote, and support individuals working within the banking, economic, and financial sector. The UAB Research Center, which conducts surveys and further explores and researches vital issues that impact the local, regional, and international banking, economics, and financial sectors is located in Ramlet Al-Baida district, Beirut, Lebanon.
The UAB has numerous foreign offices throughout MENA and European nations, including Egypt, Sudan, Jordan, Yemen, Tunis, and Germany. Additionally, a prominent and integral network of strategic relations across the globe support the UAB’s efforts, services, and events, having tremendous impact on local, regional, and international banking, economics, and finance within the Arab world..
The The UAB currently is comprised of over 330 Arab banking and financial institutions within its membership, including all MENA region Central Banking systems, major Arab and MENA banking institutions and financial agencies, and joint Arab-Foreign institutions, making the UAB the largest banking and financial consortium in the region.
UAB membership is allocated into two categories:
Category 1: Active members, Arab banking institutions, Arab development funds, finance and investment institutions, and joint Arab-Foreign banks.
Category 2: Observer members, include Arab and MENA region Central Banking systems, Arab banking associations, and joint Arab-Foreign financial institutions in which the shares held by Arabs is less than 51% and more than 25%.
The UAB Board of Directors has recently voted to further expand its membership base to include foreign banking and financial institutions that operate within the Arab world and MENA region which are administered and overseen by monetary authorities that are members of local banking associations as “Participating Members.”.