Connect with us

News

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

Published

on

Spread the love

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.

News

UAE declares June 15 public holiday for Islamic New Year

Published

on

Spread the love

The UAE has officially declared Monday, June 15, 2026, a public holiday for both public and private sector employees to mark the Islamic New Year 1448.

The announcement was made by the Federal Authority for Government Human Resources and the Ministry of Human Resources and Emiratisation, confirming a paid day off for workers across the country.

Normal working hours will resume on Tuesday, June 16.

As the holiday falls on a Monday, most employees who enjoy a Saturday-Sunday weekend will benefit from a three-day break.

For government employees in Sharjah, the holiday will create an even longer weekend. With the emirate’s four-day workweek already providing Fridays, Saturdays and Sundays off, the additional Monday holiday means a four-day break.

The Islamic New Year, also known as the Hijri New Year, marks the beginning of a new year in the Islamic lunar calendar. It falls on the first day of Muharram, the opening month of the Hijri calendar, and is traditionally confirmed through official moon-sighting procedures.

The occasion is one of the UAE’s official public holidays and is observed by both government entities and private sector companies.

The announcement comes shortly after residents enjoyed the longest holiday period of the year during Eid Al Adha.

Earlier this month, government employees benefited from an extended nine-day break, while many private sector workers received up to six days off.

With June 15 now confirmed as a public holiday, UAE residents have another long weekend to look forward to before the summer holiday season gets underway.

Continue Reading

Education

Dubai schools to receive surprise KHDA inspections§

Published

on

Spread the love

Dubai’s private schools will face short-notice inspections from the 2026-27 academic year under a revamped quality assurance framework announced by the Knowledge and Human Development Authority (KHDA).

Under the new approach, schools will receive no more than 24 hours’ notice before inspectors arrive, marking a significant shift in how education quality is monitored across the emirate.

KHDA said the updated system will include two types of visits. Full inspections will be carried out by teams of specialist education experts, while shorter monitoring visits will focus on specific areas of school performance and quality assurance.

Return of formal inspection

The move signals the return of formal inspection activity after KHDA paused inspections during the 2025-26 academic year. At the time, the authority said the break would allow for greater collaboration with schools and a review of how educational quality is assessed and supported.

The new model aims to provide a more responsive and differentiated approach to evaluating schools, with visits designed to offer a clearer picture of day-to-day operations and educational standards.

Dubai’s private school sector serves hundreds of thousands of students across a wide range of international curricula, making quality assurance a key part of maintaining educational standards and supporting continuous improvement.

Further details on how the inspection and monitoring framework will operate are expected ahead of the 2026-27 academic year.

Continue Reading

Health

Dubai plans faster medical visas under new health tourism plan

Published

on

Spread the love

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.

Continue Reading

Popular

© Copyright 2025 HEADLINE. All rights reserved

https://headline.ae/