Banking
From The Report: Abu Dhabi 2023
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Abu Dhabi’s banking sector thrives in a globally connected economy, supported by solid capitalisation, credit growth and profitability. The embrace of technological innovation and financial technology, coupled with strengthened cybersecurity and anti-money-laundering measures, positions Abu Dhabi’s banks for continued growth. High oil prices and a robust non-oil sector are expected to drive further expansion as digitalisation improves efficiency. At the same time, an ongoing commitment to regulatory and supervisory improvements is enhancing Abu Dhabi’s global standing and reinforcing its financial stability.

Amid global efforts to tackle inflation, interest rates are expected to remain relatively high, though Abu Dhabi’s lenders are well provisioned to remain profitable. Credit growth is ongoing, albeit at a slower pace, as digitalisation efforts continue to enhance customer service while reducing operating costs. The broader UAE banking sector’s stability and continuity in the face of global challenges underscore its resilience.

This chapter includes an interview with Khaled Mohamed Balama, Governor, Central Bank of the UAE.

Articles from this Chapter

Overview

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Interview

Technological breakthroughs: Khaled Mohamed Balama, Governor, Central Bank of the UAE (CBUAE), on the importance of innovation in finance
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Analysis

Crypto rush: Decentralised financing could play an important role in GCC countries’ efforts to diversify their economies
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