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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.

Education

UAE: Parents can now attest school certificates in just 3 minutes

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The UAE has introduced a major digital upgrade for parents and students, with the Ministry of Foreign Affairs and Sharjah Private Education Authority launching a new system that allows academic certificates to be issued and attested online in just minutes.

    Activated through the Dalil platform, the service combines certificate issuance and attestation into one streamlined digital process, removing the need for families to navigate multiple platforms or complete separate applications.

    Officials said the move is part of the UAE’s wider Zero Government Bureaucracy Programme, designed to simplify services, reduce paperwork and create a better, more user-friendly digital experience.

    Previously, parents often needed to complete up to three separate procedures involving schools, the Ministry of Foreign Affairs and UAE missions abroad. Under the new integrated system, the entire process can now reportedly be completed in around three minutes instead of taking up to six working days.

    The platform allows users to issue academic certificates through SPEA while simultaneously obtaining attestations from MoA and the relevant UAE mission in the destination country through one unified digital window.

    Officials described the initiative as another step towards building a fully connected digital government ecosystem focused on convenience, efficiency, and smarter public services.

    The new service is expected to particularly benefit families applying for university admissions, overseas transfers, and official educational documentation both inside and outside the UAE.

    Why is certificate attestation needed?

    School certificate attestation is the official process of verifying and certifying the authenticity of a student’s educational documents. This ensures that academic records and other important certificates are legally recognised by authorities in the UAE.

    The process is often required for several key purposes, including school admissions, university applications, student visa procedures and confirming the validity of educational qualifications for use inside the country.

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    Forgot driving licence at home? UAE says digital copies are enough

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    Drivers across the UAE no longer need to carry printed driving licences or vehicle registration cards while on the road, after the Federal Traffic Council confirmed that officially issued digital versions are now recognised as complete legal alternatives.

    According to the Ministry of Interior’s Federal Traffic Council, motorists can use electronic driving licences and vehicle registration cards through official smart applications, including the MOIUAE app and local authority platforms such as TAMM in Abu Dhabi.

    The move is part of the UAE’s wider push towards digital transformation and paperless government services, allowing residents to access official traffic documents instantly through their smartphones.

    Authorities said traffic officers can easily verify licence validity and vehicle ownership details electronically through integrated smart systems, reducing the need for physical document checks.

    The UAE already allows residents to access a wide range of official documents digitally through platforms such as UAE PASS, while many drivers now choose electronic-only delivery for renewed licences and vehicle registrations.

    However, authorities stressed that drivers must still ensure the digital documents are accessible through official government-approved applications when requested during inspections.

    Under current traffic laws, failing to carry a driving licence or vehicle registration card can result in fines of Dh400 for each violation.

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    New roads, schools and flood systems coming to Abu Dhabi

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    Abu Dhabi Investment Office and Abu Dhabi Projects and Infrastructure Centre have announced a massive new wave of infrastructure projects worth Dh55 billion across Abu Dhabi.

    The projects, scheduled across 2026 and 2027, will introduce new roads, schools, healthcare centres, flood control systems and community facilities as the capital continues its rapid expansion.

    Dh35 billion allocated to roads and transport

    The biggest share of the investment is going into transport infrastructure, with around Dh35 billion earmarked for 11 major road developments.

    Plans include:

    • More than 300km of new roads
    • Upgrades to tunnels and intersections
    • Expanded traffic networks across the emirate
    • Improved connectivity to key residential and commercial areas

    For residents navigating heavy traffic around areas such as Yas Island and central Abu Dhabi, the upgrades are expected to ease congestion and improve travel times.

    New schools, healthcare and sports facilities planned

    The remaining Dh9 billion will focus on social infrastructure projects aimed at improving daily life for residents.

    The plans include:

    • New schools and universities
    • Specialised healthcare centres
    • Sports and recreational facilities
    • Community-focused infrastructure developments

    Officials said several earlier public-private partnership projects in Abu Dhabi, including Zayed City Schools and the emirate’s LED road lighting programme, have already received regional industry recognition.

    Flood control and drainage systems upgrade

    Another Dh11 billion will be invested into water infrastructure projects, including:

    • Stormwater drainage systems
    • Flood prevention networks
    • Water storage facilities
    • New dams and flood control infrastructure

    The move comes after severe weather and flooding events across the UAE over the past year pushed drainage and climate resilience higher up the national agenda.

    The latest announcement signals Abu Dhabi’s continued push to modernise infrastructure, support population growth and strengthen quality of life across the emirate.

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