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UAE banking sector assets to record up to 10pc growth in 2022: UBF Chairman

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UAE Banks Federation (UBF) Chairman AbdulAziz Al Ghurair has projected that the UAE’s banking sector assets will surge in the range of 8 to 10 percent next year.

He said the banking sector will benefit from the economic revival as the country’s economy will also increase about 5 per cent in 2022.

AbdulAziz Al Ghurair said that the UAE’s economy will reap benefits from Expo 2020 for about nine years with more international investors attracting to the country.

He highlighted that banks are already seeing improvements in key performance matrixes such as asset quality, capitalisation, loans and deposit growth, profitability, loans to deposit ratio, costs, and liquidity.

Al Ghurair predicts that the non-performing loans ratio of the UAE’s banking sector will moderate from the current 8 per cent to 2 per cent in 2022.

Even before the third quarter 2021 results, figures show that the UAE banks are entering a period of healthy growth in assets and profits.

The UBF chairman said that the coronavirus pandemic has already expedited digitalisation, especially in the banking sector as most of the customers have been forced to try digital solutions of their banking problems. It is indeed a good development for banks, customers and all other stakeholders in the economy, he added.

Al Ghurair said that increased digitalisation is helping the banks reduce the number of branches and overall costs while offering a better customer experience.

Meanwhile, the latest data from the Central bank showed the digitalisation has resulted in a decline in the number of bank branches from 534 at the end of first quarter this year to 522 at the end of second quarter. Likewise, the number of bank employees fell by 414 to 32,623 at the end of June 2021.

Al Ghurair said the central bank’s support was timely and substantial but the banking sector in the country is ready for the phasing out of the support under the Targeted Economic Support Scheme (TESS) of the Central Bank of UAE.

As the Central Bank is set for a gradual withdrawal of its direct liquidity support, Al Ghurair said the banking sector no longer needs funding. He said that some 95 per cent of the banks have already surrendered their TESS quotas. He expected a decline in loan impairments over the next few quarters.

UBF Chairman Al Ghurair said the UAE’s healthy banking system is supportive of the economic growth momentum, while banks are also gaining benefit from the underlying strength of the operating environment. He said the post-COVID-19 recovery in the economy is going to benefit all sectors that were negatively impacted during the pandemic.

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Dubai’s Al Freej Fridge campaign returns to distribute 2mn cold drinks and ice creams to workers

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A bottle of cold water or an ice cream may seem like a small gesture, but during Dubai’s summer heat, it can make a meaningful difference.

That’s the idea behind the third edition of the Al Freej Fridge campaign, launched on July 3 at Al Khawaneej Majlis. The community initiative aims to distribute two million bottles of cold water, juices and frozen treats to workers across Dubai throughout the summer.

Supported by the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) and organised in partnership with Suqia UAE and the UAE Food Bank, the campaign brings together volunteers, government entities and community organisations to recognise the contributions of workers who spend long hours outdoors.

Bigger campaign, more volunteers

Organisers say this year’s campaign will expand volunteer participation to around 200 volunteers while encouraging more government entities, companies and residents to get involved.

Portable fridges will also be introduced, allowing volunteers to stock refreshments and distribute them directly to workers across different parts of Dubai.

For workers, the cold water, juice and ice cream are welcome relief during the hot summer days.

This campaign will continue until September 3, reaching workers across construction sites, industrial areas and other outdoor workplaces throughout Dubai.

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Dubai RTA announces traffic improvements at 28 locations: Here’s where and what to expect

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Dubai’s Roads and Transport Authority (RTA) is rolling out a series of traffic improvement projects at 28 locations across the emirate between July and September 2026 to ease congestion, improve road safety and reduce travel times.

The works are being carried out during the summer holidays to minimise disruption while traffic volumes are lower.

What’s changing?

The programme covers:

  • 4 locations near schools.
  • 3 locations in development areas.
  • 21 locations across major roads and residential communities.

The upgrades aim to improve traffic flow, strengthen connections between residential and commercial areas, and support Dubai’s growing population.

Emirates Road expansion

One of the biggest projects is the expansion of Emirates Road, where two new lanes are being added along a 5km stretch from Sharjah towards Al Amardi Street.

According to the RTA, the project is expected to reduce peak-hour journey times by 25% on one of the busiest roads connecting Dubai with neighbouring emirates.

Other key road improvements

The RTA will also introduce traffic upgrades at several busy locations, including:

  • The intersection of Trade Centre Street and Marasi Drive in Business Bay.
  • Latifa bint Hamdan Street near Al Quoz Industrial Area.
  • Ras Al Khor Road towards Al Khail Road.
  • The intersection of Al Khawaneej Street and Al Amardi Street.
  • The right turn from Ras Al Khor Road to Dubai–Al Ain Road, which will be expanded from one lane to two.
  • Algeria Street in Al Mizhar 4, where an additional lane will improve access near labour accommodation.

These upgrades are expected to reduce queues and improve traffic flow in high-demand areas.

School zone upgrades

Ahead of the new academic year, the RTA is also improving access around schools by adding parking spaces and enhancing traffic movement at:

  • Zayed Educational Complex in Al Mizhar 2.
  • Horizon International School in Umm Al Sheif.

The improvements are designed to reduce congestion during school drop-off and pick-up times while improving safety for students and parents.

How were the locations selected?

The RTA said the projects were chosen after analysing:

  • Historical traffic data.
  • Field surveys.
  • Intelligent transport system data.
  • Traffic camera monitoring.
  • Feedback and suggestions from the public.

The authority says the “Quick Wins” programme is designed to deliver practical improvements that reduce congestion, shorten journey times and enhance the overall driving experience across Dubai.

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Dubai Police warn parents about dangerous ‘slime in microwave’ social media trend

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Dubai Police have urged parents to stop children from copying a viral social media trend that involves heating slime in a microwave, warning it could cause serious burns and other injuries.

The warning comes as schools break for the summer holidays, when children are likely to spend more time online.

Why is the trend dangerous?

According to Dubai Police, placing slime in a microwave can trigger chemical reactions that cause it to:

  • Expand rapidly.
  • Release extremely hot vapours.
  • Explode or splatter when removed.
  • Cause burns to the face, hands and body.
  • Damage microwave ovens or even start small fires.

Officials said many children may imitate the videos without understanding the risks involved.

What advice has Dubai Police given parents?

Dubai Police is urging parents to:

  • Monitor the content their children watch on social media.
  • Explain the dangers of copying viral online challenges.
  • Never allow children to use microwaves or other electrical appliances without adult supervision.
  • Encourage safe and educational activities during the summer holidays.

Learn more about online safety

Parents are also encouraged to use Dubai Police’s eCrime Hub, which provides safety advice in Arabic and English on cybercrime, online risks and harmful social media trends.

Why the warning matters

Dubai Police said raising awareness about online challenges is essential to preventing avoidable accidents. The force is encouraging families to promote safe behaviour at home and help children make responsible choices online throughout the summer break.

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