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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 opens two new bridges linking Al Asayel Street to Al Khail Road

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Dubai motorists have a smoother commute ahead as the Roads and Transport Authority (RTA) has opened two new bridges connecting Al Asayel Street with Al Khail Road via Al Wasl Club Street.

The bridges are part of the Oud Maitha and Al Asayel Streets Development Project, which falls under the wider Sheikh Rashid Corridor Development Project aimed at easing traffic and supporting Dubai’s growing population.

What the new bridges do

The newly opened bridges improve traffic flow at key junctions in the Oud Maitha area:

  • Bridge 1: Carries traffic from Al Asayel Street towards Al Wasl Club Street
  • Bridge 2: Connects Al Asayel Street to Al Khail Road heading towards Business Bay Crossing

According to RTA, the first bridge features two lanes with a capacity of about 2,400 vehicles per hour, helping ease traffic at the intersection with Oud Maitha Street and Al Wasl Club Street.

The second bridge, also with two lanes, can handle around 3,000 vehicles per hour, improving connectivity between Al Asayel Street and Al Khail Road.

Major road project nearing completion

The authority said 72% of the overall development project has now been completed, while 70% of tunnel construction work is also finished.

The upcoming tunnel will serve vehicles travelling from Dubai–Al Ain Road towards the Oud Maitha service road.

Additional road expansions and bridge structures are currently under construction and are expected to open in the third quarter of 2026.

Faster journeys for drivers

Once completed, the project is expected to significantly improve traffic movement in the area.

  • Road capacity on Oud Maitha Street will increase from 10,400 vehicles per hour to 15,600 vehicles per hour
  • This represents a 50% increase in traffic capacity
  • Average travel time will drop from 20 minutes to just 5 minutes, a 75% improvement

The improvements aim to make daily commuting faster and support Dubai’s long-term infrastructure growth.

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Sharjah delays new academic year for Indian, Pakistani schools to March 30

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The Sharjah Private Education Authority (SPEA) has announced that the start of the 2026–2027 academic year for private schools following Indian and Pakistani curricula in Sharjah has been postponed.

According to a circular issued to schools on Thursday, students will now begin classes on March 30, 2026, instead of the previously scheduled March 23.

Remote exams scheduled

SPEA said students may sit for examinations remotely between March 9 and March 12.

The authority explained that the decision came after requests from schools submitted through the Council of School Principals, and after reviewing the justifications provided by school administrations.

Temporary guidelines for schools

The authority also issued new instructions regarding school access for staff and parents.

Some administrative and teaching staff may be present on campus, but their number must not exceed 15 employees and should be limited to operational needs.

Parents will also be allowed to visit schools to collect uniforms and books, but only according to numbers and schedules set by the school administrations.

Schools asked to update parents

SPEA has asked school administrations to make the necessary internal arrangements and inform students and parents about the revised schedule.

The move aims to ensure smooth preparations before the start of the new academic year.









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UAE emergency alerts explained: What to do when you receive a mobile notification

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Authorities in the UAE have reminded residents to follow safety instructions when emergency alert sirens are activated across the country. Officials say some people stop to film videos during alerts, which can put lives at risk.

The Ministry of Interior (MoI) has urged residents to prioritise safety and follow official instructions they receive on their mobiles, warning that ignoring alerts or failing to comply with guidance may lead to legal accountability.

Here is a simple guide for residents on what UAE warning signals mean and what to do if you hear them.

1. Warning signal (Danger alert)

When this signal is activated, it means there may be a potential danger at a national or local level.

What residents should do

  • Move immediately to the nearest safe place or shelter
  • Stay indoors and avoid going outside
  • Follow instructions from official authorities
  • Do not stop to film or share videos

Authorities say the alert is issued to protect lives, so residents should act quickly and calmly.

2. Out of danger signal

This signal is issued when the threat has passed or the situation has been brought under control.

What residents should do

  • They can return to their homes or normal activities
  • Continue to follow updates from official sources if needed

3. Important announcement signal

This alert indicates that authorities will share important information or instructions with the public.

What residents should do

  • Immediately listen to local radio or official media channels
  • Check government announcements for updates
  • Follow any instructions issued by authorities

If you are driving during an alert

Authorities advise motorists to:

  • Continue driving to their destination
  • Once you arrive, go to the nearest safe place or shelter
  • Avoid stopping your vehicle to film the alert

Why authorities issue reminder

The UAE’s public warning system, operated by the National Emergency Crisis and Disaster Management Authority (NCEMA) and Civil Defence, uses sirens placed across the country and mobile alerts to warn residents of potential threats. Officials stressed that public cooperation is essential to ensure safety during emergencies.

Residents are encouraged to stay calm, follow instructions, and prioritise personal safety when an alert is issued.

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