WAM DUBAI: Emirates Banks Association (EBA) announced the formation of an advisory council comprising Chief Executives Officers of National Banks and a number of foreign banks.

The new body will be chaired by Abdul Aziz Abdullah Al-Ghurair, CEO of Mashreq '&' Chairman of Emirates Banks Association, EBA said in a press release.

The advisory council will discuss all topics pertaining to banking industry, make all endeavors to develop and promote the UAE's banking sector to the highest standard globally.

The council formed a steering committee of eight members chaired by Rick Pudner, CEO of EmiratesNBD group.

The EBA advisory council held three meetings during the first quarter of this year where a work plan was agreed upon to improve the EBA role including formation of ten specialized committees in different banking fields, same was agreed and blessed by the EBA Board of directors, and the last AGM as well.

The CEOs exchanged views on the role of the council and same related topics, including recommendation to explore ways and means to help citizens who may appear having high debt burden ratio versus their salary income, raised to the Central Bank.

The steering committee held several meetings with H.E. The Chairman of Board of the Central Bank, some of board members, H.E. The Governor and his assistants, where their Excellency's welcomed the formation of this council and praised the goals of EBA continuing supporting and coordinating with EBA as representative of all banks operating in the country.

The council will hold a meeting every three months, prior to the quarterly consultative meeting of the governor of the central bank of the UAE with all CEOs of operating banks, to enable the members to exchange views and agree on the topics to be raised by EBA to the agenda of H.E. the governor meeting, instead of sending such topics by bank individually.

WAM/MMYS