Union of Arab Banks (UAB) is an organization responsible for fostering cooperation between Arab banks, developing of Arab financial business, and enhancing the financing role of Arab banks in the Arab World. The Union of Arab Banks was formed on March 13, 1974, during a meeting of an elite group of Arab banks and management leaders under the umbrella of the Arab Administrative Development Organization. The meeting reached a conclusion to establish an Arab organization working within the framework of the unions emanated from the Arab League.