The Union of Arab Banks’ (UAB) general assembly has selected Sulaiman Al Mazroui, board member of UAB and representative of UAE banks as the president of the assembly for a period of one year.

The decision came at the UAB board meeting and general assembly which was held on the sidelines of the Arab Banking Conference 2010 in Khartoum.

The board meeting stressed the importance of improving Arab investment, evaluating and redirecting the performance of common Arab economy, highlighting the role of Islamic banking and activating mechanisms of cross border inter-Arab investment projects, as an introduction to Arab economic complementarily.

The UAB was formed in 1974 and currently has 330 members from the Arab financial and banking institutions. – TradeArabia News Service