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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 plans faster medical visas under new health tourism plan

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Patients travelling to Dubai for medical treatment could soon enjoy a faster and more seamless experience under a new partnership between the General Directorate of Identity and Foreigners Affairs (GDRFA Dubai) and the Dubai Health Authority (DHA).

The two entities have signed an agreement aimed at streamlining medical visa procedures and improving the patient journey from arrival to recovery.

Under the partnership, healthcare and residency services will be more closely integrated, making it easier for international patients to access treatment in Dubai. The initiative will also strengthen coordination between visa processing, healthcare providers and insurance systems.

A key focus is on enhancing digital integration between the two organisations, allowing medical visa applications to be processed more efficiently through the Dubai Health Experience network.

Officials said the collaboration could pave the way for future innovations, including a smart medical visa and proactive digital services designed to support patients throughout their treatment journey.

Lieutenant General Mohammed Ahmed Al Marri, Director General of GDRFA Dubai, said the partnership reflects Dubai’s vision of creating connected government services that put people first.

Meanwhile, Dr Alawi Sheikh Ali, Director General of the DHA, said health tourism is about more than medical care, adding that accessibility, convenience and quality of service are equally important parts of the patient experience.

The initiative supports Dubai’s broader ambitions to strengthen its position as a global healthcare and medical tourism destination while delivering faster, smarter and more integrated services for visitors seeking treatment in the emirate.

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Dubai issues new rules governing camera use, recordings and privacy protection

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Dubai has introduced a comprehensive new framework regulating the use of cameras during the documentation of violations and the execution of judicial judgments, decisions and orders, placing a strong emphasis on privacy protection, transparency and secure handling of recorded data.

The resolution, issued by Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, establishes clear rules on where recordings can take place, how footage must be managed and the responsibilities of both government entities and enforcement officers.

Strict limits on where recording is allowed

One of the most significant aspects of the new resolution is its focus on safeguarding personal privacy.

Under the new rules, recording is strictly prohibited in locations considered highly private, including homes, places of worship, changing rooms and similar spaces where individuals have a reasonable expectation of privacy.

The resolution also requires that individuals be informed whenever a recording is taking place, reinforcing transparency and ensuring people are aware when camera equipment is being used during official procedures.

Mandatory training for officers

Officials authorised to use body cameras must undergo specialised training before being granted judicial enforcement powers.

The training programme will cover legal and ethical responsibilities, privacy protection requirements, proper documentation of violations, enforcement procedures and the secure handling, storage and transfer of recorded footage.

Authorities say the objective is to ensure officers understand both the operational and privacy implications of using recording devices in the course of their duties.

Secure storage and data protection

The resolution introduces strict standards for the storage and management of recordings.

All footage must be stored electronically using encrypted systems designed to prevent unauthorised access, misuse, tampering or data breaches.

Government entities are required to comply with relevant Dubai laws as well as cybersecurity standards established by the Dubai Electronic Security Centre. These requirements cover information security, data retention, access controls and business continuity procedures.

Responsibilities of government entities

Under the new framework, government organisations must:

  • Store all recordings securely in electronic systems.
  • Maintain the confidentiality of recorded material.
  • Ensure footage is only accessed, shared or used with written authorisation and for approved purposes.
  • Create and maintain databases identifying authorised users and their access privileges.
  • Ensure employees and authorised personnel comply with privacy protection standards.
  • Provide appropriate training before officers receive enforcement authority.

Rules for officers using cameras

The resolution also outlines clear obligations for enforcement personnel.

Officers must:

  • Use recording devices solely for official duties.
  • Follow instructions issued by their government entity.
  • Maintain strict confidentiality regarding recorded material.
  • Share recordings only with authorised parties or their respective government authority.

Importantly, officers are prohibited from copying, storing or transferring recordings onto personal devices or unauthorised systems. They are also forbidden from using footage for personal purposes or any activity outside the scope of their official responsibilities.

Private contractors also covered

The regulations extend beyond government departments and also apply to private companies contracted to provide services related to enforcement activities.

These organisations must comply with the same privacy, security and confidentiality requirements established under the resolution.

The resolution takes effect immediately following its publication in the Official Gazette, with government entities expected to implement the necessary procedures and compliance measures within their respective areas of responsibility.

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UAE residents could get a long weekend for Islamic New Year 2026

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UAE residents could be in line for another long weekend as the country prepares to mark the Islamic New Year, one of the key public holidays observed nationwide.

The occasion marks the beginning of the year 1448 in the Islamic calendar and is celebrated on the first day of Muharram, the opening month of the Hijri year. Both public- and private-sector employees are entitled to a paid holiday to commemorate the event.

While the official date has not yet been confirmed, astronomical calculations suggest the Islamic New Year is likely to fall in mid-June 2026. The final determination will depend on lunar observations and the length of Dhu Al Hijjah, the last month of the Islamic calendar.

If Dhu Al Hijjah concludes after 29 days, Muharram 1 is expected to fall on Tuesday, June 16. However, under the UAE’s public holiday framework, holidays that occur in the middle of the working week can be moved to either the beginning or end of the week to create a longer break for residents.

As a result, many observers expect the public holiday to be officially observed on Monday, June 15, creating a three-day weekend for employees across the country.

The Islamic New Year is one of the few holidays in the UAE that is linked directly to the Hijri calendar, which follows the lunar cycle rather than the Gregorian calendar. Because lunar months are either 29 or 30 days long, the exact date of the holiday can vary each year until officially confirmed by authorities.

Although the holiday is generally observed more quietly than Eid Al Fitr or Eid Al Adha, it remains an important occasion for Muslims worldwide, marking the historic migration, or Hijrah, of Prophet Muhammad (PBUH) from Makkah to Madinah, an event that serves as the starting point of the Islamic calendar.

An official announcement confirming the holiday date is expected closer to the occasion, following the customary moon-sighting process.

For UAE residents already planning their 2026 calendars, the Islamic New Year holiday could offer a welcome opportunity for a mid-year break and another long weekend to look forward to.

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