The UAB’s institutional achievements continue to shine throughout the Arab banking world. The Arab Financial Services Company, established through the sponsorship and efforts of the UAB in 1982 in Bahrain, has developed into being a leading company in the field of electronic banking services, personal payments tools, and other related services at the Arab and international levels. The Arab Institute for Banking and Financial Studies, established in Jordan under the umbrella of the UAB in 1989, has become the Arab Academy for Financial and Banking Sciences, commissioning the lead on banking training, continuing education and professional development.
Our Developmental – Economic & Financial Roles
The UAB plays an integral and leading role in developing the Arab banking industry in accordance with the international improvements and advancements of the Arab region. The UAB calls for the development of Arab banks and financial institutions to advance in the direction of universal banking, easing the constraints of functional and sectorial specialization, by deepening the functions of traditional banks or by creating new leadership roles for them. The UAB continues work to introduce innovative banking and financial instruments throughout the Arab-banking marketplace, ensuring a practical supervisory culture geared towards the provision of banking stability in the Arab region. In light of rapid global transformations, the UAB categorically intervened as a participant party in the formulation of the new rules and trends of the global banking and financial system.
The UAB has developed a new role in promoting trade, investment and tourism within the Arab region, given the importance of these economic themes for Arab banking practice and economic development in the Arab world. The UAB continues to encourage Arab financial and banking institutions to identify and promote trade investment and tourism projects available in the Arab world, encouraging the participation of bank funds in joint Arab economic, trade, investment, and tourism projects. The UAB plays a significant role in the expansion of initiatives and innovative ventures supporting joint Arab cooperation at both the banking and economic levels.
The UAB has successfully overcome the logistical and financial constraints caused by the rapid events in the Arab countries which commenced in 2011, and have yet to be resolved.
Our Institutional Achievements
The UAB has established and supported numerous institutions and organizations that play vital roles in the Arab financial and banking sector. Among them, include:
1. The Arab Financial Services Company
Established under the auspices of the UAB in 1982 in the Kingdom of Bahrain, it has evolved to become a leading provider of electronic banking services and tools for personal payments and other related services, on the regional and international levels.
2. The Arab Institute for Banking and Financial Services
Established in Jordan under the auspices and with support of the Union of Arab Banks in 1989, it has evolved to become today the “Arab Academy for Banking and Financial Sciences” dealing with world class specialized banking and financial education and training.
3. The World Union of Arab Bankers
Established in Morocco in 2006 under the auspices and with sponsorship and support of the Union of Arab Banks, it primarily aims to establish links between Arab bankers and businessmen, and closer cooperation among them, intended to serve their common interests and develop the Arab financial and banking business. The role of this new union integrates with the role of the UAB to support and enhance the Arab banking and financial industry.
Regional and International Status
Over the years, the UAB has focused on establishing, developing and reinforcing its business relations with key regional and international organizations, institutions and associations within the financial and economic sectors.
The UAB is an Observer Member in the following Arab and International Organizations:
• The UN Economic and Social Council
• The Arab League’s Economic and Social Council
• The Council of Arab Tourism Ministers
• The Arab Monetary Fund
The UAB is an active member in the following Arab and International Committees:
• The Arab Committee on Banking Supervision, which is affiliated to the Council of Arab Central Banks and Monetary Agencies Governors.
• The Arab Committee on Payments Settlements affiliated to the Council of Arab Central Banks and Monetary Agencies Governors.
• The Consultative Group for Training Arab Banking Supervisors which is affiliated to the US Treasury Department.
The UAB has a vast and strategic network of alliances and works cooperatively with reputable Arab and international economic and financial institutions such as:
A. International sphere:
• US Treasury Department.
• UN and its Economic and Social Council.
• World Bank
• International Monetary Fund
• British Commonwealth Business Council
• American Bankers Association
• Association of Banks in the UK
• European Banking Association
• Italian Banks Association
• French Banks Association
• Bank for International Settlements (BIS)
• Basel committee on Banking Supervision
• Financial Stability Institute (FSI)
• International Bankers Forum (IBF)
• Center of International Private Enterprise (CIPE)
• Arab Bankers Association in North America (ABANA)
• Bankers Association for Foreign Trade (BAFT)
• Arab Bankers Association in London (ABA)
• World Union of Arab Bankers (WUAB)
• Financial Action Task Force (FATF)
• International Finance Corporation (IFC)
• Global Association of Risk Professionals (GARP)
• Austria Quality Systems Company
• Ecole Supérieure des Affaires (ESA)
B. Arab regional sphere:
• Arab League and its Economic and Social Council
• The Council of Arab Economic Unity
• Arab Investors Union
• General Federation for the Chambers of Commerce, Industry and Agriculture for the Arab Countries
• Islamic Development Bank
• Arab Academy for Banking and Financial Sciences
• Union of Arab Stock Exchanges and Capital Markets Authorities
• Economic and Social Commission in Western Asia (ESCWA)
• Arab Monetary Fund
• Arab Organization for Managerial Development
• Arab Committee on Payments Settlements
• Arab Committee on Banking Supervision
• Arab Tourism Ministers Council
• Arab Central Banks Governors Council
• Arab Banking Associations and Unions
The UAB has fostered its position as a platform for the Arab banking sector on international and regional levels, where global financial, economic and banking institutions cooperate with the UAB to execute projects and initiatives that enhance the Arab banking and financial industry.