UBF holds first online workshop on ethical selling

The UAE Banks Federation (UBF) held its first online workshop on ethical selling recently, in collaboration with one of the largest business and financial consultancies in the region.

Dubbed “UBF Ethical Selling – Score/Collective Index for the UAE Banking Industry”, the workshop gathered more than 75 attendees from banks across the UAE, giving them an exhaustive overview of the ethical selling framework with special focus on Customer Protection Regulations. The workshop also featured a detailed explanation of the approach required for the successful development of a Collective Ethical Selling Index, while providing UBF members with a clear roadmap on how to move forward with this initiative.

UBF’s Director General Jamal Saleh commented on the importance of this workshop, saying: “This event comes in line with UBF’s ongoing efforts to enhance the performance of all its members’ staff and further their knowledge about ethical selling practices.”

He added: “We are continuously working on raising the banking industry bar high in the UAE, and to do so, we must always put customers first and embrace new ways of protecting their best interests. With a clearer, more in-depth understanding of Ethical Selling, we can offer customers ethical products and solutions that better reflect our honest concern to meet their needs, while adopting trustworthy sales practices and committing to the highest level of accuracy and transparency in sharing information with them.”

The Ethical Selling workshop promises to be one of many steps on UBF’s journey towards developing an industry score that is meant to help members assess the sector’s maturity in terms of ethical selling standards while defining additional initiatives that could enhance mindful customer practices in the future.