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Union of Arab Banks
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Union of Arab Banks
Union of Arab Banks (UAB) is an organization responsible for fostering cooperation between Arab banks, developing of Arab financial business, and enhancing the financing role of Arab banks in the Arab World. The Union of Arab Banks was formed on March 13, 1974, during a meeting of an elite group of Arab banks and management leaders under the umbrella of the Arab Administrative Development Organization. The meeting reached a conclusion to establish an Arab organization working within the framework of the unions emanated from the Arab League..
The headquarters of the Union is located in the Central District of Beirut, Lebanon and has three major regional offices in Egypt, Sudan and Jordan. This besides a network of strategic relations with major banking and financial institutions in other Arab countries where the Union provides various types of services for domestic banking sectors.
The ultimate objectives of UAB are to consolidate relations and foster cooperation between its members, to coordinate their activities, and to emphasize their Arab identity to secure common interests. This besides the development of the banking and financial sector in the Arab countries, and enhancing the role of the Arab banking and financial institutions in supporting the social and economic development in the Arab region. The Union is seeking to be the main and true support for the Arab common economic practice, and the corner stone in the process of building and developing banking cooperation for the benefit of economic, financial, and banking development in the Arab world. The current chairman of the Union of Arab Banks is Mr. Mohammed Mahmoud Ahmed El – Etreby.
The Union of Arab Banks comprises today more than (300) Arab financial and banking institutions representing the major and biggest Arab banks. This makes the Union the largest banking and financial consortium in the region and an efficient representative of the Arab banking community. The members of the Union consist of two categories: The First category combines active members and includes all Arab banking, financial, and investment institutions and joint Arab foreign banking institutions. And the second category combines observer members and includes Arab central banks, Arab banking associations and joint Arab-Foreign financial institutions in which the Arab share is less than 51% but more than 25%.
The Union performs its functions through the following bodies:
Supreme authority of the Union resides with the General Assembly which comprises representatives of active and observer members. It formulates the general policies and plans of the Union and meets once every year.
The board of directors is the Union's highest executive authority. It adopts policies and measures to attain the principal goals determined by the General Assembly. The Union's Board of directors consists of delegates representing Arab Countries having active members in the Union. Representatives of joint banks, Arab central banks and monitory agencies may also attend Board meetings as observers. The board members elect from themselves a chairman and a Vice Chairman by a simple majority vote of members present for a 3-year term of office.
The General Secretariat is the technical and administrative body of the Union. It consists of the Secretary General, Assistant Secretaries and a component of technical and administrative personnel. the Secretary General manages the Union's affairs and implements the resolutions adopted by general Assemblies, the board of directors and executive committee.
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Union of Arab Banks
Union of Arab Banks (UAB) is an organization responsible for fostering cooperation between Arab banks, developing of Arab financial business, and enhancing the financing role of Arab banks in the Arab World. The Union of Arab Banks was formed on March 13, 1974, during a meeting of an elite group of Arab banks and management leaders under the umbrella of the Arab Administrative Development Organization. The meeting reached a conclusion to establish an Arab organization working within the framework of the unions emanated from the Arab League..
The headquarters of the Union is located in the Central District of Beirut, Lebanon and has three major regional offices in Egypt, Sudan and Jordan. This besides a network of strategic relations with major banking and financial institutions in other Arab countries where the Union provides various types of services for domestic banking sectors.
The ultimate objectives of UAB are to consolidate relations and foster cooperation between its members, to coordinate their activities, and to emphasize their Arab identity to secure common interests. This besides the development of the banking and financial sector in the Arab countries, and enhancing the role of the Arab banking and financial institutions in supporting the social and economic development in the Arab region. The Union is seeking to be the main and true support for the Arab common economic practice, and the corner stone in the process of building and developing banking cooperation for the benefit of economic, financial, and banking development in the Arab world. The current chairman of the Union of Arab Banks is Mr. Mohammed Mahmoud Ahmed El – Etreby.
The Union of Arab Banks comprises today more than (300) Arab financial and banking institutions representing the major and biggest Arab banks. This makes the Union the largest banking and financial consortium in the region and an efficient representative of the Arab banking community. The members of the Union consist of two categories: The First category combines active members and includes all Arab banking, financial, and investment institutions and joint Arab foreign banking institutions. And the second category combines observer members and includes Arab central banks, Arab banking associations and joint Arab-Foreign financial institutions in which the Arab share is less than 51% but more than 25%.
The Union performs its functions through the following bodies:
Supreme authority of the Union resides with the General Assembly which comprises representatives of active and observer members. It formulates the general policies and plans of the Union and meets once every year.
The board of directors is the Union's highest executive authority. It adopts policies and measures to attain the principal goals determined by the General Assembly. The Union's Board of directors consists of delegates representing Arab Countries having active members in the Union. Representatives of joint banks, Arab central banks and monitory agencies may also attend Board meetings as observers. The board members elect from themselves a chairman and a Vice Chairman by a simple majority vote of members present for a 3-year term of office.
The General Secretariat is the technical and administrative body of the Union. It consists of the Secretary General, Assistant Secretaries and a component of technical and administrative personnel. the Secretary General manages the Union's affairs and implements the resolutions adopted by general Assemblies, the board of directors and executive committee.