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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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Ramadan 2026 in UAE: Shorter winter fasting hours, possible 3-Day Eid weekend

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Good news for anyone already counting down to Ramadan, this year’s holy month is set to fall during the UAE’s winter season, making fasting more comfortable than usual.

According to astronomers, Ramadan will arrive toward the end of winter and the start of early spring, bringing milder temperatures, cooler evenings, and shorter fasting hours, expected to be around 30 minutes shorter than Ramadan 2025, making it one of the more comfortable Ramadans in recent years.

When Is Ramadan Likely to Start?

With Shaaban officially beginning on January 20, astronomers can now predict Ramadan’s timing more accurately. The UAE will look for the Ramadan crescent moon on February 17, though experts say it’s unlikely to be sighted that night.

The best chance to spot the crescent is expected on February 18, which would mean Ramadan begins on February 19. This date also aligns with the official calendar issued by Awqaf, adding weight to the prediction.

Could Eid Al Fitr be a Long Weekend?

Once Ramadan ends, all eyes will turn to the Shawwal moon. Astronomers say the most likely date to sight the Shawwal crescent is March 19, which would place Eid Al Fitr on Friday, March 20.

If confirmed, Eid holidays would run from March 20 to March 22, giving many residents a three-day weekend, a pretty great way to wrap up the holy month.

What About the Weather, Fasting Hours?

Because Ramadan falls during a seasonal transition this year, fasting should be more manageable. Expect pleasant evenings, cooler nights, and daytime temperatures ranging from the mid-20s°C early in the month, rising to the high-20s°C toward the end.

Iftar, Suhoor timings

Shorter fasting days will also mean earlier Iftar times, especially at the start of Ramadan. In Dubai, sunset, and Iftar, is expected to be around 6.15pm at the beginning of the month, moving to approximately 6.23pm by mid-Ramadan and 6.30pm toward the end. Abu Dhabi’s Iftar timings will be slightly later, with sunset expected around 6.19pm at the start, 6.26pm midway through the month, and 6.33pm by the final days.

As for Suhoor, the pre-dawn meal is expected to end between 5.00am and 5.20am during the early days of Ramadan, gradually shifting as the month progresses.

A winter Ramadan, shorter fasting hours, and the possibility of a long Eid weekend, this year’s holy month is shaping up to be a gentler one.

Now we wait for the sighting of the Ramadan moon. Last year, the UAE Council for Fatwa used AI-powered drones to sight the crescent marking the beginning of the holy month.

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No medicines in school bags: UAE schools tighten health and safety rules

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If you’re a parent in the UAE, here’s an important update to keep on your radar.

Schools across the country are tightening controls around student health and safety, urging parents not to send any medication with their children during the school day, unless it’s necessary and officially approved.

The move applies to government and private schools following a Ministry of Education curriculum, and the message is clear: Unsupervised medication at school can be risky.

In notices sent out to parents, school administrations explained that allowing students to carry medicines could lead to serious health risks. These include incorrect dosages, improper use, or even students sharing medication with classmates. Schools are keen to avoid situations that could quickly turn into medical emergencies.

Exceptions With Rules

The ban isn’t a blanket one. Students with chronic conditions or specific medical needs are still allowed access to medication, but only under strict guidelines.

Parents must provide:

  • An official medical prescription from the treating doctor
  • Clear details, including the student’s name, medication type, dosage, and timing

Once approved, medications are:

  • Stored securely
  • Administered only by school management or qualified health staff

This ensures students receive their treatment safely and at the right time.

School administrators say the policy is part of a broader health and safety framework aimed at preventing emergencies and promoting awareness on campus.

Parents are being urged to fully cooperate with the new guidelines, highlighting the importance of strong school–family partnerships when it comes to student health.

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Big news for Khorfakkan: New mountain neighbourhood announced to ease housing shortage

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If you live in Khorfakkan and have been wondering what’s happening with housing in the area, here’s some reassuring news.

His Highness Sheikh Dr Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has announced that a new residential neighbourhood will be built in Jabal Al Ashkel, directly responding to concerns about the shortage of homes in the city.

The new development, called Al Ashkel Neighbourhood, will be located along the mountainous area of Khorfakkan. It’s set to take place near the Khorfakkan Club for the Disabled, and to ensure the area is ready for construction, the road leading to Al Rafisah will be paved.

The announcement was made during a phone call on the programme Direct Line, where the Sharjah Ruler addressed concerns by Emiratis about the availability of residential plots in Khorfakkan. And it wasn’t just talk about plans, there’s already a lot happening on the ground.

Right now, 270 homes are under construction, including 120 homes in Al Mudeife. More residential plots in the Al Harray area are also being handed over to the municipality, with construction expected to take around two years.

And it’s not just Khorfakkan that’s seeing progress. The Sharjah Ruler also shared updates on housing projects in Kalba, with new neighbourhoods being developed along the ring road in areas like Al Ghayl, Al Saaf, and Al Tareef. Construction has already started in Al Dahiyat neighbourhood, with more developments on the way.

All in all, it’s a clear sign that efforts are being made to ease housing pressure across Sharjah’s East Coast, and the message is clear: Sharjah is moving fast to address housing needs with long-term, citizen-focused developments that balance community living and natural surroundings.

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