UAE Banks Federation Honours H.E Sultan Al Swaidi

Abu Dhabi, 24 November 2014: With the presence of H.E Mubarak Rashid Khamis Al Mansouri, Governor of the UAE Central Bank; UAE Banks Federation Chairman, H.E AbdulAziz Al Ghurair and Directors of the UAE Banks Federation, together with CEOs of member banks and heads of the Federation’s specialised committees gathered at a ceremony held at Hilton Hotel in Abu Dhabi, on 24th November, to honour the outgoing Governor of the UAE Central Bank, H.E Sultan Bin Nasser Al Suwaidi.

Speaking at the ceremony, the Chairman of the UAE Banks Federation, HE AbdulAziz Al Ghurair, said “I would like to place on record our gratitude to a man who has shaped the UAE banking and financial industry over a long and turbulent period of 23 years. During his time at the helm of the UAE financial regulatory body, our industry witnessed tremendous growth and also multiple challenges, however, it was his foresight and timely action that steered us out of these challenges far stronger and continued on our growth path.”
H.E added “H.E Nasser Al Suwaidi came to office at an important moment for the banking sector in the UAE, he took up the challenge with enthusiasm and, as they say, the rest is history. His skills and judgement as the architect of UAE’s banking and finance sector stood us in good stead and has helped the UAE to become the financial centre of the Middle East. He handled multiple systemic crises, steering us out of the global crisis with almost no impact. During 23 years of his tenure, the banking sector grew 14 times to reach more than AED 2000 Billions making it not only the largest banking sector in the Arab world, but one of the strongest in terms of capital adequacy and liquidity standards in the Middle East. “
H.E closed his speech “On behalf of the UAE Banks Federation and member banks, I can say that His Excellency has provided an accessible, enabling and consultative approach which has helped to formulate key regulations which reflect the needs of the banking sector.”

The UAE Banks Federation presented His Excellency Nasser Al Suwaidi with a trophy as a token of their appreciation for his co-operation and support for the organisation and its members, and for his achievements during his 23 years as Governor of the UAE Central Bank.