Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

UAE- Regulation tops list of risks faced by global regional banks  Join our daily free Newsletter

MENAFN - Khaleej Times - 05/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Regulation topped the list of risks among the global and middle east banking industry ? replacing 2012?s leading threat the macro-economic environment survey reveals.

the csfi’s biennial banking banana skins survey produced in association with pwc revealed the overwhelming message from respondents: the weight of new regulation is becoming excessive and could dampen economic recovery and growth. the poll is based on responses from more than 650 bankers banking regulators and close observers of the banking industry in 59 countries.

madhukar shenoy pwc middle east financial services risk and regulatory leader said most risks identified were relevant to banks in the middle east.

“while regulation was seen as the no. 1 risk globally regional regulators have used a pragmatic approach to introducing change in regulation by making sure new regulations take account of the local and region specific market circumstances. many of the identified risks such as technology risk profitability interest rate risk and pricing of risk are major concerns for regional banks” said shenoy.

banks launch ‘mobile wallet’ project

staff report

abu dhabi — the uae banks federation has launched the mobile wallet project with the support of the central bank.

the project first unveiled in february has been developed by a special committee of nine member banks under the chairmanship of tirad al mahmoud chief executive officer of adib and works under the aegis of the uae banks federation in close coordination and cooperation the central bank of the uae.

the project is in line with the smart government initiative announced by his highness shaikh mohammed bin rashid al maktoum vice-president and prime minister of the uae and ruler of dubai in may 2013.it will be carried out over the coming year and will comprise a number of phases the first of which will be to put in place mobile payments and money transfer platforms for smart phones and other digital devices.

— business?khaleejtimes.com

political interference was also specified by respondents as causing more costs and constraints to the banking sector. some of the strongest concerns around political interference come from europe — where extensive measures have been proposed or adopted at both the eu and national levels to make banks safer.

most analysts agree that the unprecedented volume of global regulation is placing considerable demands on banks aggravated by the dangers of failing to effectively interpret the regulatory agenda and manage external stakeholder expectations.

as new banking regulations come into effect the stakes are higher than ever as failure to comply with new rules can lead to huge fines and successful compliance to great profit.

however the survey also shows that anxiety about the outlook for banks has started to decline for the first time in seven years suggesting that the operating climate for banks is finally turning.

slim ben ali pwc’s middle east risk director said the region is gradually getting ahead of the curve with regards to risk management practices. “banks in the region are highly aware of the risks they face and are actively pursuing risk management approaches that are considered best-in-class. however it is important that banks recognise the need to align their risk strategies with their overall business strategies as they increasingly focus on capital and liquidity requirements under the new basel iii accord.’’

the poll shows that concerns expressed in earlier surveys about capital availability liquidity credit quality and exotic products in the banking system have begun to ease. although confidence about the macro-economic outlook has also strengthened the survey reveals strong ongoing concern about the stability of the eurozone and rising worries about emerging markets particularly china where the banking system is seen to be under stress. the outlook for the tapering of quantitative easing by central banks is widely seen as crucial to global economic prospects.

— issacjohn?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Oct 26 2014 - Afghan president visits Saudi ArabiaArab News
(MENAFN - Arab News) KABUL: Afghanistan's President Ashraf Ghani Ahmadzai on Saturday made his first overseas trip since taking office fulfilling an election promise to undertake a religious ...

 Oct 26 2014 - Tens of thousands protest Renzi's job measures in RomeArab News
(MENAFN - Arab News) ROME: Tens of thousands of Italians took to the streets of Rome Saturday for a demo organized by Italy's largest trade union to protest Prime Minister Matteo Renzi's plans to ...

 Oct 26 2014 - France announces big coalition air raid against IS in IraqArab News
(MENAFN - Arab News) PARIS: The international coalition currently battling the IS group in Iraq dropped around 70 bombs on an arsenal and militant training center in a large-scale overnight raid the ...

 Oct 26 2014 - UN climate chief hails EU dealArab News
(MENAFN - Arab News) BONN: The UN's climate chief hailed a European agreement on greenhouse gases Friday as providing 'valuable momentum' for a world pact to be inked in Paris next year.The goals set ...

 Oct 26 2014 - Russia still has troops in Ukraine NATO saysArab News
(MENAFN - Arab News) MONS Belgium: Russia still has troops in eastern Ukraine and retains a very capable force on the border despite a partial withdrawal NATO's military commander said on ...

 Oct 26 2014 - Canadians seek to understand Parliament shootingArab News
(MENAFN - Arab News) OTTAWA Ontario: Authorities and ordinary Canadians sifted through confounding shards of a gunman's life seeking to understand what motivated the man to storm the nation's seat of ...

 Oct 26 2014 - Abu Dhabi int'l Airport traffic up 23.9 percent in SeptemberMENAFN
(MENAFN) Abu Dhabi Airports reported an increase in passenger traffic by 23.9 percent during September compared to the same month last year, with 1.696.651 passengers using the airport during the ...

 Oct 26 2014 - Morocco, Chad sign agreementsMENAFN
(MENAFN) Morocco announced it has signed a set of agreements and memoranda of understanding with Chad regarding several fields, QNA reported.The agreements which were signed by both countries include ...

 Oct 26 2014 - BASF warns on profitsArab News
(MENAFN - Arab News) BERLIN: Chemical and oil company BASF is warning that its profits will come in below its previous forecast in the wake of slower global economic growth and industrial ...

 Oct 26 2014 - Saudi- Fawaz Alhokair's net profit rises 7.72Arab News
(MENAFN - Arab News) JEDDAH: Saudi Arabia retailer Fawaz Abdulaziz Alhokair Co. reported a 7.7 percent rise in second-quarter profit as sales increased and it made foreign exchange gains but the ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help