Virtual signing ceremony of Memorandum of Understanding (MOU) on Partnership between Union of Arab Banks (UAB) and World Savings and Retail Banking Institute (WSBI)

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Virtual signing ceremony of Memorandum of Understanding (MOU) on Partnership between Union of Arab Banks (UAB) and World Savings and Retail Banking Institute (WSBI)

UAB Activity

The Union of Arab Banks represented by Secretary General Mr. Wissam H.Fattouh , and the World Savings and Retail Banking Institute represented by Managing Director Mr. Chris De Noose have signed a memorandum of understanding (MOU) at a virtual ceremony on the 2nd of September 2021 , The two parties aim to jointly drive economic development and business growth on both global and regional level , and to support of the financial services industry in the countries that are home to UAB’s members as well as WSBI members.

The MoU coverage is focused on the areas of, among others: Exchanging the expertise between WSBI and UAB, in retail and saving banking, financial inclusion, and digital banking transformation, coordinating research at a global, regional, and national level about retail banking, organizing events on local, regional, and international levels, developing joint policy recommendations.

Wissam H.Fattouh  , Secretary General of  UAB said : “ this collaboration paves the path for an important stage for the future of retail and saving banks in the Arab region, as the banking industry is adapting with the New Normal, and in light of Covid-19 that continues to change retail banking, which is moving towards more digitalization and further adoption of financial technology. In this regard, I hope that we will be able to share WSBI’s knowledge and expertise with the Arab banking sector. “

Chris De Noose , Managing Director if WSBI said :” The WSBI has over 100 members with a presence in almost 80 countries. WSBI’s footprint in the Middle East region is limited. The collaboration with UAB would help bring the expertise of WSBI member banks to the region. WSBI could contribute to the Arab’s regional prosperity agenda by sharing its members’ retail, regional and responsible banking approach. At the same time, I believe that WSBI member banks could also benefit from the banking expertise that is unique from the Arab speaking countries”.

About WSBI an international membership based not for profit association registered under Belgian law which brings together savings and retail banks from around 80 countries, representing the interests of approximately 6,000 financial institutions across the globe. WSBI provides assistance to its membership through advocacy services, knowledge sharing and training activities

About UAB is a non-profit organization headquartered in Beirut, Lebanon possessing Diplomatic status.  The UAB consists of 360 member institutions from the Arab League member states, including banks, central banks, banking associations, and banking financial institutions. UAB is responsible for fostering cooperation between Arab banks, developing of Arab financial business, and enhancing the financing role of Arab banks in the Arab World.

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