Corporate Governance

Corporate Governance

United Arab Bank (UAB) has a strong commitment to building robust corporate governance frameworks, and to increasing the transparency and disclosures on the quality of the Bank's assets and the manner in which the business of the bank is managed. The organization and structure of the Board of Directors and Executive Management, with clearly differentiated roles and responsibilities, is aligned to best practices for protection of the interests of depositors, shareholders, creditors, employees and other stakeholders.

The governance structure and policies at UAB are being enhanced, to enable the Board of Directors to maintain effective and regular oversight over the risks inherent in the business of the Bank. The Board approves strategic objectives, appropriate risk strategies, policies and procedures, and ensures that business plans, budgets, and risk appetite are properly aligned with the size, volume and range of business activities. The Board also has the responsibility to set corporate governance values, codes of conduct, and standards of compliance with banking laws and regulatory guidelines.

Board level committees meet with UAB Management at regular intervals, to monitor and evaluate the bank's financial performance and risk exposures, as well as new business and products. The Board has oversight responsibility for ensuring the quality and integrity of accounting, auditing, internal control, and external financial reporting, as well as ethical practices and transparency in business processes and financial reporting. The Board also plays an important role in the selection, compensation structures and performance evaluation of key senior management executives.

UAB management has strengthened systems and resources in the following areas of risk governance: Asset & Liability Management, Risk Management, Organizational Planning, IT, Compliance, Legal, etc . Policies have been enhanced and documented and management committees have been established to ensure that procedures and practices meet the highest standards for risk governance and transparency.

Board of Directors

Board Members

Sheikh Faisal Bin Sultan Al Qassimi
H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi
Chairman of UAB
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Omar Hussain Al Fardan
Mr. Omar Hussain Alfardan
Vice Chairman of UAB
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Sheikh Abdulla Bin Ali Bin Jabor Al Thani
H.E. Sheikh Abdullah Bin Ali Bin Jabor Al Thani
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Sheikh Mohammed Bin Faisal Al Qassimi
H.E. Sheikh Mohammed Bin Faisal Al Qassimi
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Najla Al-Midfa
Ms. Najla Al Midfa
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Ahmed Mohamad Bakheet Khalfan
Mr. Ahmed Mohamad Bakheet Khalfan
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Joseph Abraham
Mr. Joseph Abraham
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Fahad Abdulrahman Badar
Mr. Fahad Abdulrahman Badar
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Rashed Al Ketbi
Mr. Rashed Al Ketbi
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Board Committees

  1. Audit Committee (BAC)
    • Meets at least 4 times per Year
    • Miss Najla Al Midfa - Chairman
    • Mr. Joseph Abraham - Member
    • Mr. Rashed Al Ketbi - Member
  1. Risk Committee (BRC)
    • Meets at least 4 times per Year
    • Sh. Abdullah Bin Jabor Al Thani - Chairman
    • Miss Najla Al Midfa - Member
    • Mr. Fahad Abdulrahman Badar - Member
    • Mr. Rashed Al Ketbi - Member
  1. Governance & Remuneration (GRC)
    • Meets at least 4 times per year
    • Mr. Omar Al Fardan - Chairman
    • Sh. Mohammed Bin Faisal Al Qassimi - Member
    • Mr. Ahmed Khalfan - Member
    • Mr. Joseph Abraham - Member
  1. Credit Committee (BCC)
    • Ad hoc to approve credit files
    • Sh. Mohammed Bin Faisal Al Qassimi - Chairman
    • Mr. Ahmed Khalfan - Member
    • Mr. Fahad Abdulrahman Badar - Member
    • Mr. Joseph Abraham - Member

Organization Chart

Organization Chart

Organization Chart



This page contains some general information about FATCA and also a FATCA Form to be completed by customers as part of the Bank’s account opening procedures.

Introduction to FATCA: FATCA stands for the Foreign Account Tax Compliance Act. FATCA is U.S. legislation first published in 2010 and first implemented in early 2013 to counter tax evasion in the U.S. FATCA was introduced by the United States Department of Treasury and the U.S. Internal Revenue Service (IRS). FATCA’s purpose is to promote better tax compliance by preventing U.S. Persons from using banks and other financial institutions to avoid U.S. taxation on their worldwide income and assets.

Inter-Governmental Agreements (IGAs): To help implement FATCA compliance worldwide, the U.S. Government has been concluding Inter-Governmental Agreements (IGAs) with many governments, including that of the United Arab Emirates Government, which has entered into an IGA of type Model 1B. These IGAs have resulted in U.S. FATCA legislation becoming an embedded part of these countries’ local laws. UAB is a registered deemed compliant financial institution with the IRS and has obtained its GIIN (Global Intermediary Identification Number).

UAB’S GIIN: 65ZB6Y.00000.LE.784.

Impact of FATCA: The impact for banks and other financial institutions and their customers is that financial institutions are required to report, on an annual basis, information on financial accounts held directly or indirectly by U.S. Persons. In the case of UAE regulated banks, such reporting is to the UAE Central Bank. FATCA impacts all customers of UAB, not just U.S. Persons, as UAB needs actively to identify each of its customers by type and whether or not they are a U.S. Person.

UAB’s FATCA Customer Forms: To assist UAB in discharging its regulatory responsibilities, we politely request our customers to complete the necessary additional Customer Forms as part of our normal account opening procedures as may be required and as are available for download immediately below.

Individual Customer Forms
Individual Customer FATCA Form A
Individual Customer FATCA Form B

Entity Customer Forms

• Entity Customer FATCA Form A

Additional Terms and Conditions Regulatory Information
• English
• Arabic

UAB’s Withholding Certificate: UAB has duly completed and signed a Withholding Certificate in the form of IRS Form W-8BEN-E and this is available for download immediately below.

Form W-8BEN-E dated 28th February,2018

Tax Advice Important Note: UAB is not regulated to offer tax advice. For any tax related questions, you are advised please to contact your professional tax adviser or refer to the IRS website.

IRS Forms Available For Download
All U.S. Department of Treasury IRS Forms relating to FATCA and supporting user instructions that may be applicable to you can be downloaded on the IRS website. In particular, but without limitation, you can download the following forms which you may be required to complete in addition to the UAB FATCA Customer Forms. Each UAB Customer Form provides clear instructions as to whether or not any additional IRS Form needs to be completed.

For Non-U.S. Person Individuals
Form W-8BEN
Form W-8BEN Instructions

For Non-U.S. Person Entities

Form W-8BENE
Form W-8BENE Instructions

For U.S. Persons

Form W-9
Form W-9 Instructions


Common Reporting Standard - CRS

What is CRS?

Under the direction of the Organisation for Economic Cooperation and Development (OECD), many Participating Jurisdictions have committed to, and are establishing, a global standard for the Automatic Exchange of Financial Account Information based on the Common Reporting Standard (CRS) to obtain and exchange financial account information of overseas tax payers on an annual basis. United Arab Bank (UAB) is committed to complying with its obligations under CRS as well as other tax compliance regimes, including the United States Foreign Account Tax Compliance Act (FATCA) provisions which were enacted as part of the US Hiring Incentives to Restore Employment (HIRE) Act.

Like the Industry at large, UAB may be required to collect certain tax-related information and/or documents from clients in order to ensure compliance with CRS. In certain circumstances, UAB will be required to report and share such information and/or documents with the appropriate tax authorities in order to ensure its compliance with CRS and applicable enabling legislation.

CRS commenced from 1 January 2016 for ‘early adopter’ countries, which have preliminarily committed to first exchange information in September 2017 relating to the 2016 calendar year. For ‘late adopter’ countries which includes United Arab Emirates, CRS will commence from 1 January 2017, with the first exchange of information expected to be undertaken by such jurisdictions in September 2018.

To learn more about CRS, including the status of jurisdictions’ commitment to participation in CRS, visit the OECD Automatic Exchange of Information portal.

Who is affected? 

The impact of CRS on individuals and entities will depend on a number of factors, including:

  • The nature of the products and accounts you hold with us
  • The country or countries where your accounts are held
  • Your country or countries of tax residency

What you can expect?

To comply with its obligations under CRS, UAB may be required to collect certain tax-related information and/or documents from you, and confirm their currency with you, from time-to-time. In addition, UAB may be required to report and share information regarding you and your Financial Accounts with the appropriate tax authorities in compliance with CRS.

Specifically, in order to identify your country (or countries) of tax residency, you may be required to complete one of the applicable forms listed below:

Why are we complying with CRS requirements?

UAB, as a responsible local bank, is committed to supporting governments worldwide in their efforts to improve cross-border tax compliance. Further, the requirements of CRS are enacted into local law in participating jurisdictions, meaning that UAB will be legally obligated to comply with such requirements.

Please note: The details provided on this page are intended to help understand the CRS requirements and are not intended to serve as tax advice. If you are uncertain of your CRS status or the impact of this regulation, please consult a professional tax advisor.