UAE and US lenders are set to further strengthen financial and banking relations as the Gulf nation ensures that its banks continue strong compliance with global regulations, the UAE Banks Federation (UBF) said.
The Federation (UBF), a body representing 52 member banks operating in the UAE, is currently hosting a high-level delegation in Abu Dhabi led by US Treasury undersecretary Sigal Mandelker to discuss key financial issues impacting both countries. The talks have touched on cybercrime, fraud and anti-money laundering (AML), as well as areas of collaboration to address key challenges within the banking sector, the UBF said in a statement on Monday.
"A critical focus for us is tackling growing global threats such as money laundering and illicit financing, in order to effectively help create a fair, transparent and sustainable operating financial system," Abdulaziz Al Ghurair, chairman of UBF, said.
The meetings come amid changes within the banking industry as FinTech disrupts the way services are delivered and lenders embark on digital transformation.
“The banking and finance industry continues to experience ongoing disruption and transformational change. It has therefore become more important than ever for regulatory bodies to strike an important balance between cultivating innovation and mitigating risk," Mr Al Ghurair said.
"With this in mind, we continue to work closely with our international partners to ensure that all UAE-based banks operate in strong compliance with global regulations."
Executives that attended the meeting included the federation's director-general, Jamal Saleh; Ala’a Eraiqat, chief executive of Abu Dhabi Commercial Bank; André Sayegh, deputy group chief executive of FAB; Bernd Van Linder, chief executive of Commercial Bank of Dubai; Vince Cook, chief executive of National Bank of Fujairah; Peter England, chief executive of RAKBANK and Ahmed Abdelaal, executive vice president at Mashreq Bank.
The US delegation included the US Treasury's deputy assistant secretary for public affairs, Seth Unger; senior adviser Ari Redbord; office Katherine Amlin; section chief Miad Maleki; senior counsellor Jessica Renier and the financial attaché to the UAE and Oman, Paul Khuri.
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
GAC GS8 Specs
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Fuel consumption: 9.1L/100km
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Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
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Important questions to consider
1. Where on the plane does my pet travel?
There are different types of travel available for pets:
- Manifest cargo
- Excess luggage in the hold
- Excess luggage in the cabin
Each option is safe. The feasibility of each option is based on the size and breed of your pet, the airline they are traveling on and country they are travelling to.
2. What is the difference between my pet traveling as manifest cargo or as excess luggage?
If traveling as manifest cargo, your pet is traveling in the front hold of the plane and can travel with or without you being on the same plane. The cost of your pets travel is based on volumetric weight, in other words, the size of their travel crate.
If traveling as excess luggage, your pet will be in the rear hold of the plane and must be traveling under the ticket of a human passenger. The cost of your pets travel is based on the actual (combined) weight of your pet in their crate.
3. What happens when my pet arrives in the country they are traveling to?
As soon as the flight arrives, your pet will be taken from the plane straight to the airport terminal.
If your pet is traveling as excess luggage, they will taken to the oversized luggage area in the arrival hall. Once you clear passport control, you will be able to collect them at the same time as your normal luggage. As you exit the airport via the ‘something to declare’ customs channel you will be asked to present your pets travel paperwork to the customs official and / or the vet on duty.
If your pet is traveling as manifest cargo, they will be taken to the Animal Reception Centre. There, their documentation will be reviewed by the staff of the ARC to ensure all is in order. At the same time, relevant customs formalities will be completed by staff based at the arriving airport.
4. How long does the travel paperwork and other travel preparations take?
This depends entirely on the location that your pet is traveling to. Your pet relocation compnay will provide you with an accurate timeline of how long the relevant preparations will take and at what point in the process the various steps must be taken.
In some cases they can get your pet ‘travel ready’ in a few days. In others it can be up to six months or more.
5. What vaccinations does my pet need to travel?
Regardless of where your pet is traveling, they will need certain vaccinations. The exact vaccinations they need are entirely dependent on the location they are traveling to. The one vaccination that is mandatory for every country your pet may travel to is a rabies vaccination.
Other vaccinations may also be necessary. These will be advised to you as relevant. In every situation, it is essential to keep your vaccinations current and to not miss a due date, even by one day. To do so could severely hinder your pets travel plans.
Source: Pawsome Pets UAE
A list of the animal rescue organisations in the UAE
