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UAB reviews banking risks in de-Risking Forum  - Daily News Egypt

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UAB reviews banking risks in de-Risking Forum 

The Union of Arab Banks (UAB) will hold a de-Risking Forum entitled “Enhancing the Supervisory and Regulatory Frameworks Related to Correspondent Banking—de-Risking” from 19 to 21 August at the Grand Rotana Hotel in Sharm El-Sheikh. The UAB explained that this forum will shed light on the key challenges that are currently facing Arab and correspondent …


The Union of Arab Banks (UAB) will hold a de-Risking Forum entitled “Enhancing the Supervisory and Regulatory Frameworks Related to Correspondent Banking—de-Risking” from 19 to 21 August at the Grand Rotana Hotel in Sharm El-Sheikh.

The UAB explained that this forum will shed light on the key challenges that are currently facing Arab and correspondent banks as a consequence of strictly enforcing the application of global regulatory standards, economic and trade sanctions, and the mechanisms of Prudential Regulatory Procedures and Sound Practices in Risk Management.

The forum will discuss international legislation, which seeks to adjust the phenomenon of de-risking; international initiatives on the phenomenon of de-risking (the Union of Arab Banks and the International Monetary Fund initiative); applying a risk-based approach in the framework of correspondent banks; monitoring correspondent banks policies on de-risking; and the role of Arab regulatory authorities to reduce de-risking that may affect Arab banks.

Moreover, the forum will highlight the role required of Arab banks to reduce de-risking, the dissemination of financial services to promote financial inclusion and the requirements of risk aversion, the impact of international legislation on the reputational risk in banks, and Arab banking integration to confront de-risking among Arab banks. It will also focus on identifying and understanding the risks, trends, and methods of financing terrorism.

Furthermore, the forum will review measures taken by countries towards the development of anti-money laundering and terrorist financing systems and the implications resulting from international banks reducing or terminating correspondent banks’ operations with Arab banks.

 

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https://wwww.dailynewssegypt.com/2016/07/23/uab-reviews-banking-risks-de-risking-forum/
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