Quotes: US 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


 






  MENA News Headlines
 Aug 21 2014 - Hamas warns foreign airlines as Israel declares talks overArab News
(MENAFN - Arab News) GAZA CITY Palestinian Territories: The armed wing of Hamas warned foreign airlines against flying into Tel Aviv on Wednesday and declared truce talks in Cairo over as a six-week ...

 Aug 21 2014 - Saudi- Iconic Urdu poet in Jeddah for mushairaArab News
(MENAFN - Arab News) Some of the most-loved names in Urdu poetry will regale hundreds of expatriates with their couplets at the Indian Consulate's annual mushaira to be held at the International ...

 Aug 21 2014 - Saudi- PISJ-ES reports outstanding academic featArab News
(MENAFN - Arab News) Students of the Pakistan International School-Jeddah (English Section) (PISJ-ES) have shown outstanding academic performance this year.According to the school's acting principal ...

 Aug 21 2014 - 77000 Saudi youth aspire for skilled jobsArab News
(MENAFN - Arab News) With only three days left for submitting applications around 77000 Saudi men and women have enrolled for vocational training at the Colleges of Excellence (CoE) throughout the ...

 Aug 21 2014 - Saudi- Woman ordered to pay SR30000 for khulaArab News
(MENAFN - Arab News) A court in Riyadh has ordered a woman to pay SR30000 for her to be able to separate from her husband after he injected her with a narcotic substance local media said.The man in ...

 Aug 21 2014 - Saudi- Shoura member to speak at world science conferenceArab News
(MENAFN - Arab News) A leading Swiss scientific foundation has chosen a female Saudi Shoura Council member to speak alongside international personalities at a conference highlighting the role of ...

 Aug 21 2014 - Saudi- Punished for misbehavior women riot at Asir orphanageArab News
(MENAFN - Arab News) Nine young women at Asir's public orphanage aged between 20 and 23 started a riot in the building on Sunday burning records and assaulting the director of the orphanage after ...

 Aug 21 2014 - Saudi- Al-Balawi isacting chief of Border GuardsArab News
(MENAFN - Arab News) Maj. Gen. Awad bin Eid Al-Balawi has been appointed acting director-general of Border Guards following the death of Gen. Zamim Al-Sawat.Interior Minister Prince Mohammed bin Naif ...

 Aug 21 2014 - Saudi- SRO working on more railway projectsArab News
(MENAFN - Arab News) The Saudi Railway Organization (SRO) is continuously working on developing stations trains and railways said SRO President Muhammad Al-Suwaiket.'We have completed blueprints for ...

 Aug 21 2014 - Muslim org in Belgium condemns ISIL atrocities in IraqKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Muslims in Belgium are shocked by the crimes committed by the ISIL in Iraq and, in particular, the executions and persecution suffered by religious minorities, ...

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

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