UAE Aims for Swift Board Seat Amid Banking Sector Growth

May 13, 2026

69 min

May 13, 2026 10:30

UAE seeks a board seat at Swift as banking sector climbs global rankings

## UAE's Ambition for Swift Board Representation

The United Arab Emirates (UAE) is actively pursuing a position on the board of Swift, the global financial messaging network. This move aligns with the UAE's expanding influence in international payments and trade. Discussions are ongoing, as confirmed by AbdulAziz Abdullah Al Ghurair, chairman of the UAE Banks Federation (UBF), who emphasized the significance of this potential representation.

## Swift's Role in Global Banking

Swift, or the Society for Worldwide Interbank Financial Telecommunication, is a key player in global banking, facilitating secure cross-border transactions. Headquartered in Belgium, Swift connects over 11,500 members worldwide, including major banks like J.P. Morgan and Citibank. The board consists of 25 directors, typically from countries with substantial transaction volumes.

## UAE's Rising Global Payments Ranking

Jamal Saleh, director-general of UBF, highlighted the UAE's progress in Swift's global rankings for trade-related payments, moving from eighth to seventh place. This advancement reflects the UAE's growing transaction volumes, surpassing countries like Saudi Arabia and Austria, and nearing India's position.

## Strategic Importance of a Board Seat

Securing a board seat would enhance the UAE's visibility in global financial discussions, impacting banking standards and cybersecurity. It would also underscore the UAE's role as a financial hub connecting the Middle East, Asia, Europe, and Africa. Despite regional tensions, UAE banks remain stable, with strong performance in the first quarter of the year.

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