UAE- AbdulAziz Al Ghurair named Middle East Banker of the Year
(MENAFN- Emirates News Agency (WAM))
ROME, 6th June, 2016 (WAM) -- AbdulAziz Al Ghurair, Chairman of the UAE Banks Federation and CEO of Mashreqbank, has received the award of Middle East Banker of the Year from the Union of Arab Banks, UAB, at the UAB International Banking Summit 2016 in Rome - Italy, held under the patronage of the Prime Minister of Italy, Matteo Renzi, and in the presence of prominent political and banking figures from all over the world.
Middle East Banker of the Year is the Union's most prestigious award, and a unanimous vote by the Union's Board is required for a candidate to be selected. The vote was taken during the Board's 100th annual meeting held in Beirut, Lebanon, in March. Al Ghurair's father, Abdulla Ahmed Al Ghurair, received the same award in 2004.
Sheikh Mohamed El-Jarrah El-Sabbah , Chairman of UAB, said, "AbdulAziz Al Ghurair has been chosen for this year's award because of his great accomplishments and achievements in the banking field. His extensive experience in banking has significantly contributed to the realization of the vision of the UAE Banks Federation, which during his tenure as Chairman has played a significant part in the development of the UAE banking sector."
In his acceptance speech, Al Ghurair, said, "I am privileged and honoured to receive this award from Union of Arab Banks, and proud to get same award bestowed to my father Abdulla Ahmed Al Ghurair earlier in 2004. The UAB has been a source of strength and inspiration during times of economic turmoil and helped banks in the Arab world face many of the same challenges confronting banks in other parts of the world. For 42 years it has provided a platform for Arab banks to learn from each other and share best practice."
On the main topic of the conference, namely the Effect of Climate Change on Banking and Finance, Al Ghurair commented that the UAE government had recognised the seriousness of the issue for the entire world and was the first major oil producer to ratify the 2005 Kyoto Protocol on the UN Convention on Climate Change. He noted that the UAE was planning to generate 24% of its electricity from clean energy sources by 2021 and that the government of Abu Dhabi had committed more than US$15 billion to renewable energy projects through Masdar.
Speaking at the event, Al Ghurair said, "Banks have to work support emission reducing finance and investment, and help to develop a green bond market. They also need to engage in constructive dialogue with customers and policy makers to support and implement green initiatives, while assessing the climate change risks of projects they are considering for finance."
WAM/AAMIR/tfaham