The ultimate objectives of UAB are to consolidate relations and foster cooperation between its members, to coordinate their activities, and to emphasize their Arab identity to secure common interests. This besides the development of the banking and financial sector in the Arab countries, and enhancing the role of the Arab banking and financial institutions in supporting the social and economic development in the Arab region. The Union is seeking to be the main and true support for the Arab common economic practice, and the corner stone in the process of building and developing banking cooperation for the benefit of economic, financial, and banking development in the Arab world.[1] The current chairman of the union is Sheikh Mohamed El -Jarrah El- Sabbah.