The UAE Banks Federation (UBF) has announced that Dubai will host SIBOS 2029, an annual conference and networking event organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT). This selection underscores global confidence in the UAE’s prominent position in the financial and banking sector, as well as its critical role in advancing the payments industry.

Dubai was previously the first nation in the Middle East and Africa to host SIBOS in 2013. The event has been held in major international financial hubs, including Singapore, Geneva, Toronto, London, Amsterdam, and Beijing, making the UAE’s upcoming hosting significant for regional representation.

The successful bid for SIBOS 2029 is attributed to collaborative efforts between UBF and its partners, which include the Dubai International Financial Centre (DIFC), Dubai World Trade Centre (DWTC), and the Dubai Department of Economy and Tourism (DET), along with the support of the Central Bank of the United Arab Emirates (CBUAE).

SIBOS 2029 will allow UAE banks to showcase their advancements to participants from the global financial community, attracting over 10,000 leaders from banks, fintech companies, and service providers worldwide. UBF reaffirmed its commitment to working closely with strategic partners and CBUAE to ensure the event’s success.

Abdulaziz Al-Ghurair, Chairman of UBF, emphasized that the selection of Dubai to host SIBOS 2029 is a mark of the UAE’s stature as a key regional and global financial center. He noted that this decision reflects the international banking industry’s recognition of the UAE’s innovative initiatives aimed at enhancing payment systems and adopting digital transformation.

Al-Ghurair further committed to collaborating with partners like DIFC, DWTC, and DET to create the optimal conditions for hosting the event, ensuring it highlights the UAE’s status as a prime destination for major international gatherings.

Since its inception in 1978, SWIFT has been organizing SIBOS in various international financial centers, providing a platform for leaders in finance and banking to connect and share knowledge. With more than 11 000 financial institutions and corporations across over 200 countries, SWIFT plays a crucial role in facilitating secure financial transactions globally.

The UAE has also established the Steering Committee and National SWIFT User Group (NMG), the first of its kind in the Middle East and North Africa (MENA) region, to enhance the performance and security of payment operations. Since its formation in 2021, NMG has contributed significantly to decision-making processes and the development of banking capabilities in the UAE.

Jamal Saleh, Director-General of UBF and Chairman of the SWIFT User Group Steering Committee in the UAE, expressed pride in the selection to host SIBOS 2029, highlighting its importance as a key event in the payments sector. He noted that this recognition reflects the UAE’s achievements in payment systems and advanced technology deployment under the guidance of the Central Bank of the UAE.

Saleh reiterated the bank’s commitment to collaborating with various stakeholders to ensure SIBOS 2029 is organized at the highest level, reinforcing the UAE’s role as a leading financial and commercial center while promoting effective and secure payment solutions.

Marianne Demarchi, Chief Executive of SWIFT EMEA, commented on the importance of SIBOS in bringing the industry together, expressing excitement for the event’s return to Dubai in 2029, a city she described as a global financial hub in a strategically favorable location.