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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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UAE summer working hours announced: Midday outdoor work ban begins on June 15

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The UAE’s annual midday work ban will come into effect on June 15, with authorities once again restricting outdoor work during the hottest hours of the day to safeguard workers from extreme summer temperatures.

The regulation prohibits work under direct sunlight and in open-air locations between 12:30pm and 3pm daily, and will remain in force until September 15.

Now in its 22nd consecutive year, the initiative reflects the UAE’s ongoing commitment to workplace safety and employee wellbeing, particularly during the peak summer season when heat-related health risks increase significantly.

Under the rules, employers must provide suitable shaded rest areas for workers during break periods. Companies are also required to ensure access to drinking water, hydration supplies and cooling equipment such as fans to help protect workers from heat stress.

The Ministry of Human Resources and Emiratisation stated that limited exemptions will apply to certain activities where work cannot be postponed due to technical or operational requirements.

These include asphalt paving, concrete pouring and emergency maintenance work necessary to restore essential public services such as water, electricity and traffic systems. Projects requiring special government permits because of their impact on public infrastructure or movement may also be exempt.

Authorities warned that companies failing to comply with the regulations could face fines of Dh5,000 per worker found in violation, with total penalties reaching up to Dh50,000 for multiple offences.

The ministry highlighted the strong compliance levels achieved in previous years, noting that 99 per cent of companies adhered to the regulations during last year’s Heat Stress Protection campaign.

As part of broader efforts to support outdoor workers, more than 10,000 air-conditioned rest stations equipped with essential amenities were made available to delivery riders across the country.

Officials urged businesses to continue prioritising worker safety and strictly follow the summer regulations to help reduce heat-related illnesses and maintain a safe working environment throughout the season.

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UAE confirms zero Ebola cases, issues residents reassurance as traveller tests positive abroad

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The UAE has confirmed that no Ebola infections have been recorded within the country, reassuring residents after reports emerged about a traveller who was diagnosed with the virus days after leaving the Emirates.

According to the Ministry of Health and Prevention (MoHAP), the UAE’s health system remains on high alert with robust disease surveillance and response mechanisms in place to monitor global health developments and emerging infectious threats.

Officials explained that the individual in question had travelled through the UAE before later testing positive for Ebola upon arrival in Uganda. The ministry noted that the traveller did not seek medical treatment or visit any healthcare facility during their stay in the Emirates.

MoHAP emphasised that there is currently no public health risk within the UAE and confirmed that no Ebola cases have been detected nationwide.

Health authorities said they are maintaining close coordination with international partners, including the WHO, to track developments and evaluate any potential risks related to the situation.

As part of the country’s precautionary public health strategy, relevant authorities have already implemented established response measures, including risk assessments, contact tracing procedures and preventive protocols aligned with national guidelines and international best practices.

The ministry reiterated that the UAE’s disease monitoring systems remain highly effective and capable of responding rapidly to any potential health concerns.

Residents were also urged to rely on official announcements for accurate information and avoid spreading rumours or unverified reports on social media and messaging platforms.

Authorities stressed that public awareness, transparency and preparedness remain key pillars of the UAE’s approach to safeguarding community health and wellbeing.

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Dubai Police issue urgent warning after wrong-way rider suffers serious injuries

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A serious traffic accident in Dubai’s Majan area has prompted Dubai Police to renew warnings against driving in the wrong direction, a violation authorities say continues to pose a major threat to road safety.

The incident involved a motorcycle and a vehicle on an internal road. Initial findings indicate the motorcyclist was travelling against the flow of traffic before the collision occurred. The rider sustained severe injuries and was transported to the hospital for medical treatment.

Brigadier Juma Salem bin Suwaidan, Director of the General Department of Traffic at Dubai Police, said wrong-way driving remains among the most dangerous traffic violations and is frequently linked to fatal road accidents.

Emergency response teams and traffic patrols were dispatched immediately after authorities received reports of the crash, ensuring swift assistance at the scene.

Dubai Police highlighted that driving against traffic dramatically increases the likelihood of head-on collisions, placing motorists, motorcyclists and pedestrians at serious risk. The violation can also disrupt traffic movement, cause extensive property damage and result in tragic loss of life.

Authorities urged all road users to remain in designated lanes, follow road signs and strictly adhere to traffic regulations to help maintain safer roads across the emirate.

Drivers caught travelling against traffic face a Dh600 fine, four black points and a seven-day vehicle impoundment. In certain cases, an additional Dh500 penalty may be imposed under Article 98 of the Traffic Law for causing traffic obstruction.

Dubai Police will continue to intensify awareness campaigns and enforcement measures aimed at reducing dangerous violations and enhancing community safety.

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