Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

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

MENAFN - Khaleej Times - 07/06/2014
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
 Apr 18 2015 - Top Saudi cleric says Yemen operation in line with Shariah rulesThe Peninsula
(MENAFN - The Peninsula) IN their Friday sermons, imams in several mosques across the Kingdom said Saudi Arabia's decision on the military operation in Yemen was timely and historic with Imam and ...

 Apr 18 2015 - Construction of Dubai Metro extension a feat of engineeringThe Peninsula
(MENAFN - The Peninsula) It took more than 1,000 experts to turn the Dubai Metro dream into a reality and build the first driverless rail network in the Middle East.At 75 kilometres, the metro is the ...

 Apr 18 2015 - Saudi Maaden net profit at USD69.57m in Q1MENAFN
(MENAFN) Saudi Mining Co. (Maaden) has reported its first-quarter net profit more than doubled year on year, but the earnings still fell short of analysts' forecasts, Arab News reported.The Gulf's ...

 Apr 18 2015 - Rolls-Royce wins USD9.2b order for Emirates enginesMENAFN
(MENAFN) Rolls-Royce said it had won a USD9.2 billion order to supply engines for 50 A380 aircraft for Dubai's Emirates airline, providing a boost for the British company, Arab News ...

 Apr 18 2015 - Saudi RCJY industrial cities investments hit USD266.55bMENAFN
(MENAFN) The volume of investments injected into Jubail, Yanbu and Ras Al-Khair industrial cities reached USD266.55 billion, president of the Royal Commission for Jubail and Yanbu (RCJY) said, Arab ...

 Apr 18 2015 - Obama to host Gulf leaders on May 13-14The Peninsula
(MENAFN - The Peninsula) US President Barack Obama will welcome the six leaders of the Gulf Cooperation Council states in mid-May for talks on Iran's nuclear programme and the conflicts in Yemen, ...

 Apr 18 2015 - Qatar- Bangladeshis mark Mujibnagar DayThe Peninsula
(MENAFN - The Peninsula) The Embassy of Bangladesh in Qatar and the Bangladeshi community observed Mujibnagar Day today with solemnity. Mujibnagar Day is observed every year in Bangladesh and the ...

 Apr 18 2015 - Syrian doctors ask Russia to help unblock medical aidThe Peninsula
(MENAFN - The Peninsula) Two Syrian doctors urged Russian diplomats at the United Nations on Friday to put pressure on President Bashar al-Assad to allow life-saving medical supplies into a besieged ...

 Apr 18 2015 - Qatar highlights water security challenges at World Water ForumThe Peninsula
(MENAFN - The Peninsula) H E Dr Mohamed bin Saleh Al Sada, the Minister of Energy and Industry, led Qatar's delegation at the Seventh World Water Forum, along with Eng. Essa bin Hilal Al Kuwari, ...

 Apr 18 2015 - Qatar- Gasna competition winners namedThe Peninsula
(MENAFN - The Peninsula) Winners of the Qatar University (QU) Sixth Gasna Competition were announced at a closing ceremony recently.The competition, which is an initiative organised annually by 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

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