Quotes: 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
 Nov 27 2014 - Lebanon mourns 'songbird' SabahArab News
(MENAFN - Arab News) BEIRUT: Iconic Lebanese singer and actress Sabah died Wednesday at the age of 87 after a seven-decade career and a colorful love life that kept her in the headlines until the ...

 Nov 27 2014 - Egypt drops ban on 'adults only' filmArab News
(MENAFN - Arab News) CAIRO: An Egyptian court has revoked a government ban on a film by Lebanese star Haifa Wehbe that had been deemed sexually provocative judicial sources said on Wednesday.In April ...

 Nov 27 2014 - Saudi- Prince vanishes from social mediaArab News
(MENAFN - Arab News) NEW YORK: Prince whose distaste for the music industry's conventions is well known has abruptly disappeared from social media after tentative efforts to promote his two new ...

 Nov 27 2014 - Saudi- Cumberbatch quits smokingArab News
(MENAFN - Arab News) LONDON: 'Sherlock' star Benedict Cumberbatch has revealed he left smoking one month back.The 38-year-old actor said staying away from cigarette is helping him stay healthy ...

 Nov 27 2014 - Saudi- Dilip Kumar perfectly fine: Big BArab News
(MENAFN - Arab News) MUMBAI: Thespian Dilip Kumar is 'perfectly fine' says actor Amitabh Bachchan quashing rumors of the former's health scare.Social networking platforms were abuzz with rumors ...

 Nov 27 2014 - Saudi- Turki Khan: Changing society one step at a timeArab News
(MENAFN - Arab News) Dreams ambitions and determination have no limits dedication to those three traits can take that dreamer ambition-seeker and determined young man or woman to places he or she ...

 Nov 27 2014 - Saudi- Exploring fine art through pencilArab News
(MENAFN - Arab News) Eman Al-Qahtani is a successful talented and ambitious young Saudi artist. She combines thoughts and colors in her paintings. She has her own art method; a painting is to deliver ...

 Nov 27 2014 - Saudi- Qatar lifts 22nd Arabian Gulf CupArab News
(MENAFN - Arab News) Qatar rallied to get the better of Saudi Arabia 2-1 to win the 22nd Arabia Gulf Cup football tournament at the King Fahd International stadium in Riyadh Wednesday night.Playing ...

 Nov 27 2014 - Saudi- Al Kabeer climbs to No. 2 after honors sweep in Globe CupArab News
(MENAFN - Arab News) One mighty performance that saw Al Kabeer Frozen Foods sweep honors had the defending champion moving up the leaderboard after the eighth week in the Thursday League 12th ...

 Nov 27 2014 - Al-Taib wins Fastest Car Race 2014 in RiyadhArab News
(MENAFN - Arab News) Ahmed Al-Taib a Saudi topped the Fastest Car Race 2014 which was organized at Dirab Park racetrack in Riyadh. Al-Taib won the race in a Porsche 911 Turbo which is characterized ...

more...


 






Google

Click to Apply

 
 

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help