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
 Jul 4 2015 - Chan hits winner as Rain or Shine levels series at 1 1Arab News
(MENAFN - Arab News) MANILA: You rarely hear Yeng Guiao talk this way. 'Only God can turn out a script write a story this way' Guiao said on Saturday night moments after his Rain or Shine crew ...

 Jul 4 2015 - Dixon shines as Highlanders storm to first Super Rugby titleArab News
(MENAFN - Arab News) WELLINGTON: Elliot Dixon scored one try and set up another for Waisake Naholo as the Otago Highlanders beat the Wellington Hurricanes 21-14 to claim a first Super Rugby title on ...

 Jul 4 2015 - Show of unity: Joint prayers held in Kuwait and BahrainArab News
(MENAFN - Arab News) KUWAIT CITY: Kuwait deployed unprecedented security measures around mosques for Friday prayers following last week's deadly bombing as the emir attended a rare Shiite-Sunni joint ...

 Jul 4 2015 - Daesh video shows mass execution in Syria's PalmyraArab News
(MENAFN - Arab News) BEIRUT Lebanon: The Daesh group on Saturday released a video showing several dozen Syrian government soldiers being executed by teenagers in the ancient amphitheater in the city ...

 Jul 4 2015 - 105 pilgrims rescuedArab News
(MENAFN - Arab News) RIYADH: The Civil Defense has rescued 105 pilgrims trapped in vehicles and buildings for various reasons since the start of Ramadan. During the first 10 days of the month it ...

 Jul 4 2015 - Sissi rallies troops after Daesh attacks in SinaiArab News
(MENAFN - Arab News) CAIRO: Egyptian President Abdel-Fattah el-Sissi traveled to the troubled northern part of the Sinai Peninsula to inspect troops on Saturday after Daesh-linked militants struck a ...

 Jul 4 2015 - Saudi equity market cap exceeds SR2 trillion in first halfArab News
(MENAFN - Arab News) JEDDAH: The Saudi stock market fell in the first half of this year. At the end of the first half 2015 Tadawul All-Share Index (TASI) closed at 9086.89 down 426.13 points or 4.48 ...

 Jul 4 2015 - Petrolimex and KPC end diesel term contractArab News
(MENAFN - Arab News) SINGAPORE: Vietnam's top fuel importer Petrolimex and Kuwait Petroleum Corp. (KPC) have ended their long-standing diesel term contract that dates back to the 1990s since imports ...

 Jul 4 2015 - Dubai airport passenger traffic up 23.2 percentArab News
(MENAFN - Arab News) DUBAI: Dubai International Airport recorded a 23.2 percent jump in passenger traffic in May reflecting runway maintenance a year earlier the operator of the world's busiest ...

 Jul 4 2015 - Bieber wows fans by climbing up a treeArab News
(MENAFN - Arab News) SYDNEY: Justin Bieber and Hailey Baldwin were spotted walking through Sydney's Olympic Park in Homebush recently. And it didn't take long for Bieber who was on his way to the ...

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