Abu Dhabi, UAE: The UAE Banks Federation (UBF) held its first online workshop on ethical selling recently, in collaboration with one of the largest business and financial consultancies in the region.

Dubbed “UBF Ethical Selling – Score/Collective Index for the UAE Banking Industry”, the workshop gathered more than 75 attendees from banks across the UAE, giving them an exhaustive overview of the ethical selling framework with special focus on Customer Protection Regulations. The workshop also featured a detailed explanation of the approach required for the successful development of a Collective Ethical Selling Index, while providing UBF members with a clear roadmap on how to move forward with this initiative.

UBF’s Director General Mr. Jamal Saleh commented on the importance of this workshop, saying: “This event comes in line with UBF’s ongoing efforts to enhance the performance of all its members’ staff and further their knowledge about ethical selling practices”.

He added: “We are continuously working on raising the banking industry bar high in the UAE, and to do so, we must always put customers first and embrace new ways of protecting their best interests. With a clearer, more in-depth understanding of Ethical Selling, we can offer customers ethical products and solutions that better reflect our honest concern to meet their needs, while adopting trustworthy sales practices and committing to the highest level of accuracy and transparency in sharing information with them.”

The Ethical Selling workshop promises to be one of many steps on UBF’s journey towards developing an industry score that is meant to help members assess the sector’s maturity in terms of ethical selling standards while defining additional initiatives that could enhance mindful customer practices in the future.

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About UAE Banks Federation (UBF):

Established in 1982, UAE Banks Federation (UBF) is a professional representative body comprising 52-members operating in the UAE.  UBF advocates the interests of all its members, and enhances cooperation and coordination in-between in order to promote and elevate UAE's banking and financial ecosystem for the benefit of the banking/financial sector, customers, and the overall UAE economy.

UBF's mission and objectives are focused on representing its members and defending their rights. UBF provides a platform for cooperation and exchange of ideas and opinions among its members and plays a major role in raising public awareness around the beneficial role and distinctive financial, economic and social contribution of UBF members to the UAE.

UBF has a 9-member Board of Directors, representing the leading UAE national banks, with H.E. AbdulAziz Abdulla Al-Ghurair currently its Chairman.  The main responsibility of UBF’s BOD is to provide the national strategic direction and overall oversight of UBF. 

UBF also has a 26-member CEOs Advisory Council, which oversees the implementation of UBF policies and execution of initiatives, projects, and activities.  The CEOs Council also makes necessary directional decisions for UBF’s 25 technical and 3 advisory committees, who are in turn tasked with implementing all agreed-on mandates, under the umbrella and guidance of UBF’s General Secretariat.  The 25 technical and 3 advisory committees also discuss all issues that are relevant to the UAE banking and financial ecosystem.

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