The Chairman of the Board of Directors of the Emirates Banking Association, Abdulaziz Al Ghurair, stressed that the levels of confidence and security in the banking sector in the country are high. And he expected, in an online press interview, yesterday, the high demand for lending, after the end of the "Corona" virus or the creation of vaccines against it.
Al Ghurair said that the union is working with the central bank on direct and indirect initiatives to improve customer satisfaction with banking services and the speedy resolution of their complaints.
He added that the dealers must realize that there are things that must be resolved with understanding with the bank, such as interest rates and fees, and other matters that are governed by the contract between the two parties.
Banking services
Al Ghurair stated that the repercussions that accompanied the spread of the new Corona virus «Covid-19» increased the use of customers, especially companies, for electronic banking services by about 50%.
He pointed out that the UAE ranks first in the world, along with Mexico in the dependence of dealers on ATMs that operate around the clock, to end most of their dealings, by 94%, however 27% of the dealers prefer to go to the branches, which is somewhat large , Compared to what banks provide from online banking channels, and through smart phone applications.
Economic support
Al Ghurair said that the support packages provided by the government and the central bank to the economy are sufficient so far, pointing out that the government spares no effort in supporting the economy, but there are matters related to the performance of the global economy, and the global travel and tourism movement, which are challenges facing all countries, expecting a high demand for lending. , And the return of economic activity in full, after the end of the Corona virus or the creation of vaccines against it.
Confidence levels
Al Ghurair emphasized that the levels of confidence and security in the country's banking sector are high, and is improving year after year, in addition to the abundance of liquidity and financial solvency that helps the sector to overcome crises.
Commenting on the results of the confidence index survey for 2019 issued by the Federation, he said that trust is one of the most important keys to success for the banking sector, and it is an important asset that must be preserved.
Confidence index
In addition, the results of the confidence index survey for the year 2019 issued by the Emirates Banks Union revealed the high confidence of customers in the banking sector; 76% of the participants expressed their high confidence in the banking sector, compared to 74% in 2018.
The fifth edition of the index, which was prepared in cooperation with the "RFI Group" for market research, revealed that the level of confidence enjoyed by the UAE banking sector exceeds many developed countries, including the United States, the United Kingdom, China, Japan, France and Germany. According to the questionnaire, 82% of dealers in the UAE strongly agreed that the banks they deal with are characterized by credibility, trust, and fairness, which is a percentage that significantly exceeds the global average of 66%. Deal with it in their home country.
Digital service
The Emirates Banking Confidence Index survey polled the opinions of a group of 2,068 randomly chosen adults in the UAE during 2019.
The index showed that 77% of customers in the country use the digital service channels monthly, which is lower than the global average of 87%.