Abu Dhabi, United Arab Emirates: The UAE Banks Federation, the representative and voice of UAE banks, organised a meeting with the Chief of the Cyber Threat Intelligence Group United States Department of the Treasury, Mr. Ryan Brick and the accompanying delegation. Senior cybersecurity officials from the US Department of the Treasury and UBF member bank attended the meeting.

The two parties discussed the latest developments in the banking sector in the UAE and the US on the diverse cyber threats faced by banks and the continuous efforts to enhance cybersecurity and follow best practices to increase the level of protection of the digital infrastructure of the banking and financial sector and create a secure environment for customers.

Mr. Jamal Saleh, Director General of the UAE Banks Federation, coordinated the meeting, which discussed critical developments in the financial and banking sectors in the UAE and the USA.

Mr. Ryan Brick noted the importance for financial institutions to exercise due diligence in risk management and take adequate action and advanced cyber security measures to protect customers and address threats and challenges that are evolving each day.

The meeting was organised with the support and guidance from the Central Bank of the UAE to provide member banks with an opportunity to discuss with Mr. Ryan Brick and senior cybersecurity officials from the US Treasury Department the procedures and solutions adopted by banks in the US and the UAE to address fraud and cyber threats. The meeting reaffirmed the Central Bank of the UAE's support and guidance to all banks and their ongoing work to ensure compliance with all anti-money laundering laws and regulations and reduce the risks to federation member banks.

Mr. Ryan Brick thanked UAE Banks Federation for organising the meeting and bringing the two parties together to exchange views.

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UAE Banks Federation (UBF):

Established in 1982, UAE Banks Federation (UBF) is a professional representative body comprising 57 members of banks and organizations operating in the UAE. UBF advocates the interests of all its members and enhances cooperation and coordination between them in order to elevate the UAE's banking ecosystem for the benefit of members, customers, and the overall UAE economy.

UBF's mission and objectives are focused on representing its members and defending their rights and interest. UBF provides a platform for cooperation and exchange of ideas and expertise among its members and plays a major role in raising public awareness about the contributions of the UAE banking sector to the economic and social development of the country.

UBF has a 22-member Advisory Council consisting of CEOs and General Managers from member banks and institutions, which oversees the implementation of UBF's policies and activities. The CEOs Council also makes directional decisions through UBF's General Secretariat for UBF's 25 technical and 3 advisory committees, who in turn are tasked to discuss all issues relevant to the UAE banking and financial services ecosystem. The UAE Banks Federation also includes a Consultative Council, which consists of chief executives of other member banks.

For further information, please contact:
Sooyin Lee
UAE Banks Federation
sooyin@uaebf.ae