In light of challenges facing financial institutions in areas of financial crime and compliance, UAE Banks Federation and Al-Iktissad Wal-Aamal are organizing a “Regulatory Conference Webinar” on 25th and 26th November 2020. This Conference Webinar will aim to highlight substantial efforts that have been exerted by UAE banks to reduce corresponding risks and repercussions of financial crime, especially in light of the wider adoption of digitization in the financial sector.
Bringing together a selected group of experts in compliance, financial crime and digital transformation, the “Regulatory Conference Webinar” will focus on efforts made by UAE Banks Federation and the financial sector, under the directive, guidance, and continuous support of Central Bank of the UAE in combating financial crime. The conference will also stress on best practices and key recommendations in risk assessment, and will discuss the action plans needed to meet the challenges arising from the widespread adoption of digital platforms.
In addition, the conference will review consumer protection regulation and its implications on banks, highlighting best practices adopted internationally in order to adhere to the standards set by Central Bank of the UAE.
Director General of UAE Banks Federation, Mr. Jamal Saleh, indicated the importance of organizing this webinar, especially with the rapid developments that are taking place in the banking sector and the increased reliance on digital platforms amid the wide spread of COVID-19 pandemic. He also praised the efforts made by UBF member banks and the measures that they have taken to protect customers and adhere to the standards set out by Central Bank of the UAE. Vice Chairperson of UBF’s Compliance Committee, and Head of Regulatory Compliance at First Abu Dhabi Bank, Mrs. Hanan Mansour, stressed on the importance of uniting efforts between compliance departments at various UAE banks to face common challenges and to keep up with local and international standards. She added that the UAE has come a long way in terms of combating financial crime, whether at the levels of legislation, new procedures, and initiatives that keep pace with all developments on the compliance front.
Mrs. Mansour invites all the heads of compliance departments and professionals from UBF member banks as well as all financial institutions in the UAE to participate in the conference webinar. She, and UBF’s Compliance Committee, look forward to providing an effective platform to discuss all challenges faced as well as propose and review appropriate solutions.