UBF welcomes Bankruptcy Law

Changing role of regulatory reserves discussed

Gulf News

Dubai: The CEO Advisory Council of the UAE Banks Federation (UBF), the professional body representing 49 banks in the UAE, on Monday welcomed the recent approval by the UAE Cabinet of a UAE bankruptcy law. The council also praised the progress in the Mobile Wallet project and discussed the changing role of regulatory reserves. The meeting addressed the progress so far on the work done in preparation for the Federation’s 4th Middle East Banking Forum, to be held in Abu Dhabi on November 14 this year.