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
 Mar 23 2017 - UAE- Cuadrado lifts Juventus in Serie AKhaleej Times
(MENAFN - Khaleej Times) Juventus beat a spirited Sampdoria 1-0 after Juan Cuadrado's early goal to provisionally extend their lead in Serie A and take a step closer to a sixth successive Scudetto, ...

 Mar 23 2017 - Dogs attack children in UAE, owner gets suspended jail termKhaleej Times
(MENAFN - Khaleej Times) The dogs were under the care of an 'illegal' maid at the time of the incident. A child in Abu Dhabi has been severely wounded after two dogs attacked him. Two dogs, ...

 Mar 23 2017 - Free on-arrival visas to Chinese, Russians fuel spurt in Dubai tourist trafficKhaleej Times
(MENAFN - Khaleej Times) China, Russia move up rankings as key source markets for inbound tourism to Dubai. Dubai recorded a significant jump in tourist traffic in the first two months of 2017 on the ...

 Mar 21 2017 - Jordan- Royal Air Force receives 2 Black Hawk helicoptersJordan News Agency
(MENAFN - Jordan News Agency) Amman, March. 21 (Petra) -- The Royal Jordanian Air Force, on Tuesday, received two UH60-M Black Hawk helicopters at the Marka military airport, in the presence of the ...

 Mar 21 2017 - Jordan- Arab Summit's media center ready, says Petra directorJordan News Agency
(MENAFN - Jordan News Agency) Amman, March 21 (Petra) -- Director of the Amman Arab Summit Media Center, Director-General of Jordan News Agency (Petra), Faisal Al Shboul, on Tuesday said the center, ...

 Mar 22 2017 - Jordan- Nearly 600 million children will face extremely limited water resources by 2040 - UNICEFJordan News Agency
(MENAFN - Jordan News Agency) Amman, March 22 (Petra) – The Nations International Children's Emergency Fund(UNICEF) warned that some 600 million children, that is 1 in 4 children worldwide, will be ...

 Mar 22 2017 - Jordan- Israeli tanks cross into Gaza, level landsJordan News Agency
(MENAFN - Jordan News Agency) Gaza, March 22 (Petra) -- A number of Israeli bulldozers and military vehicles early Wednesday advanced deep into Gaza enclave reaching al-Qarara town near Khan Younis ...

 Mar 22 2017 - Jordan- Palestinian killed, two injured by Israeli artillery fireJordan News Agency
(MENAFN - Jordan News Agency) Gaza, March 22 (Petra) -- One Palestinian was killed and two others injured Wednesday dawn by Israeli artillery fire in Gaza, according to a Palestinian official. Gaza's ...

 Mar 22 2017 - Jordan- Cloudy skies, colder temps overnight forecast for three daysJordan News Agency
(MENAFN - Jordan News Agency) Amman, March 22 (Petra) - Cloudy skies with scattered rain accompanied with thunder and lightning are forecast Wednesday across the Kingdom, with daytime temperatures ...

 Mar 23 2017 - UAE- Are you suffering from Glaucoma? Get a free check upKhaleej Times
(MENAFN - Khaleej Times) Glaucoma is the second leading cause of blindness and Art of Living Abu Dhabi Chapter is organising an event to enlighten public about the disease. Art of Living with the ...





Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


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