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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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From Machboos to Gahwa: Etihad Rail serves up a taste of traditional Emirati cuisine

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A journey on Etihad Rail’s Abu Dhabi–Fujairah passenger service is getting a distinctly Emirati flavour.

Passengers travelling between the two emirates can now enjoy an onboard menu inspired by the UAE’s culinary traditions, with dishes and drinks designed to bring local flavours into the modern rail experience.

The menu, created by Capital Catering, the food and beverage arm of ADNEC Group, was developed around the concept A Journey Through the Emirates.

The idea is simple: as passengers travel through the UAE, they can experience some of the country’s flavours and hospitality along the way.

What’s on the Etihad Rail menu?

The menu uses ingredients closely associated with Emirati cuisine and hospitality, including dates, saffron, cardamom, local honey and Arabic coffee.One of the standout dishes is a contemporary interpretation of machboos, a traditional rice dish.

The Etihad Rail version features slow-braised short rib served with fragrant Emirati-spiced rice, combining familiar flavours with a more modern presentation.

The menu has been designed to cater to different journey times, with options available for breakfast, lunch, dinner and snacks.

Passengers travelling in both Comfort and Premium classes have access to specially curated selections.

There’s a menu for younger passengers too

Families travelling by rail haven’t been overlooked.

Etihad Rail has introduced a dedicated children’s menu, designed to make the onboard dining experience more accessible for younger passengers.

The offering forms part of the railway’s wider effort to create a comfortable and welcoming experience for families and travellers of different ages.

Passengers get a taste of Emirati hospitality

For a limited period marking the launch of passenger services, travellers are also being welcomed with a complimentary Ghaf Juice Shot.

The drink takes its inspiration from the UAE’s national tree, the Ghaf.

Passengers can also enjoy locally inspired chocolates in flavours including:

  • Seven spices
  • Date and caramel
  • Gahwa and cardamom

Traditional Arabic coffee is also available onboard, alongside fresh juices, specialty coffees and premium teas.

Together, the selection gives passengers more than a conventional train meal — it introduces elements of Emirati hospitality during the journey itself.

Who created the Etihad Rail menu?

The menu was developed by award-winning chef Maitha Warshaw, a UAE culinary talent known for presenting Emirati flavours through contemporary techniques.

Warshaw has represented the UAE internationally, including serving as Executive Chef of the UAE Pavilion at Expo 2025 Osaka.

Her approach focuses on taking familiar elements of Emirati cuisine and presenting them in ways that appeal to modern diners while retaining their cultural identity.

More than just a train journey

For Etihad Rail, the food offering is intended to become part of the overall passenger experience rather than simply an onboard service.

The railway says the journey is an opportunity for passengers to experience different aspects of the UAE, from the landscapes outside their windows to the country’s food, traditions and hospitality.

That means travellers on the Abu Dhabi–Fujairah route can experience a modern form of transport while also getting a culinary introduction to the country.

For passengers, the new menu adds another layer to the Etihad Rail experience, offering a taste of Emirati culture while the train carries them across the UAE.

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Perseids meteor shower in UAE tonight: Best spots to watch as heat hits 45°C

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UAE residents looking for something to do after sunset can turn their eyes to the sky tonight as the Perseids meteor shower makes an appearance.

For the best chance of seeing the celestial display, darker locations away from the bright lights of the cities could be worth the drive. The UAE’s mountainous areas, including Jebel Jais and Jebel Hafeet, are among the cooler options for spending an evening outdoors.

The meteor shower arrives as the country experiences another hot summer day, with temperatures expected to reach 45°C in Dubai, Abu Dhabi and Umm Al Quwain.

Where can you watch the shower in the UAE?

The UAE’s mountainous regions can offer more favourable conditions for stargazing because they are farther from urban light pollution.

Jebel Jais in Ras Al Khaimah and Jebel Hafeet in Al Ain are two popular options for those looking to escape the city lights and watch the night sky.

The National Centre of Meteorology (NCM) expects temperatures in mountainous areas to remain comparatively lower, at around 32°C to 38°C.

If you’re planning to watch from a remote location, choose an established and safe viewing area, and check conditions before setting out.

Chances of rain in the east

While the skies may be the main attraction tonight, the weather earlier in the day could be less predictable in parts of eastern UAE.

The NCM forecasts fair to partly cloudy conditions, with the possibility of convective clouds developing over eastern areas during the afternoon.

That could bring rainfall to places such as Fujairah, Kalba and Khor Fakkan.

Sea conditions remain slight

The NCM expects slight sea conditions in both the Arabian Gulf and the Sea of Oman.

Anyone planning marine activities should check the latest official forecast before heading out.

So while the UAE remains firmly in summer mode, tonight offers residents a chance to swap city lights for the night sky and look out for the Perseids.

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Dubai announces official holiday on August 28: Who gets the day off?

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Public sector employees in Dubai will get a day off on Friday, August 28, as the emirate marks the birthday of the Prophet Mohammed (PBUH).

The holiday has been announced for authorities, departments and institutions operating under the Dubai Government.

Normal work will resume on Monday, August 31, giving government employees a three-day weekend.

Who gets a holiday?

The holiday applies to employees working for entities affiliated with the Dubai Government.

However, it does not cover everyone working within government organisations.

Employees whose jobs require them to work on shifts, provide services directly to the public or operate essential public-service facilities may still be required to work during the holiday.

Individual government entities will decide the working arrangements for these employees based on their operational needs.

Essential services will continue

The Dubai Government Human Resources Department said arrangements will be made to ensure that public services continue normally during the holiday.

Employees whose roles are essential to maintaining government operations may therefore have different working schedules.

Their working hours will be determined by their respective government departments and authorities.

This approach allows the holiday to be observed while ensuring that critical services and facilities remain operational.

When do Dubai government offices reopen?

Government employees who are covered by the holiday will return to work on Monday, August 31. The Friday holiday, followed by the weekend, means eligible employees will have three consecutive days away from work before returning on Monday.

Why is August 28 a holiday?

The holiday marks the birthday of the Prophet Mohammed (PBUH), an occasion observed across the region.

The Dubai Government Human Resources Department also extended its congratulations to the UAE leadership, citizens and residents on the occasion, wishing the country continued security, prosperity and progress.

For Dubai government employees, the announcement means a three-day break at the end of August, while essential government services will continue operating according to individual departments’ requirements.

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