The UAE Banks Federation (UBF), a professional body representing for 48-member banks operating in the UAE, hosted today (Wednesday, Sep 13, 2017) a joint seminar with S&P Global Ratings, one of the world's leading providers of credit scores to go over the development of Basel III application and explore exactly how the new policies and resources needs will affect banks in the UAE.
The half-day seminar was kept in Abu Dhabi and gone to by about 70 senior bankers mostly CFOs and CROs of member banks including UBF Director General and Chairperson of UBF Risk Management committee. Key speakers consist of top global and regional execs from S&P, led by Alexandre Birry, Managing Director, Head of Analytics and Study, S&P Global Ratings.
" We were pleased to join hands with S&P in hosting this essential seminar in Abu Dhabi. Helping with the exchange of suggestions and experiences through committed interactive discussion forums is important to remaining abreast of the fads and problems forming the future of our industry, and we are enthusiastic this occasion will make it possible for UBF member banks to acquire a far better understanding of the obstacles connected with implementing Basel III standards and their potential effect on financial institutions" stated Mr. Nasser Sarris, Director General of UAE Banks Federation.
Dr. Alexandre Birry, Managing Director, Head of Analytics and Research study, S&P Global Ratings, said: "S&P Global Rankings was pleased to co-host this seminar with the UBF. We discovered the discussions on regulative reform with senior leaders in the banking industry improving, allowing us to take advantage of our global competence while enhancing our local knowledge"
The seminar commenced with a global point of view on Basel III and the progression on its adoption across various regions. The seminar highlighted the main findings of the current Basel III Keeping an eye on Report and talked about the progress made by various regions in embracing the Basel framework, with a specific focus on Europe's experience in carrying out the reforms.
The conversation transitioned to just how these global experiences compare with those of the banks in the UAE and the larger region. Offering more focus on the key elements that banks have to take into consideration as they come close to the new capital adequacy and threat administration demands, especially as the more reforms (occasionally described as "Basel IV") are still expected and could strengthen several of the resources demands.
The following subject was S&P Global Ratings approach to resources evaluation and its unique Risk-Adjusted Capital (RAC) framework. S&P likewise provided a review of its RAC proportions for financial institutions Middle East and North Africa (MENA) in contrast to those for global banks; as well as in contrast to the regulative ratios.
Basel III is a comprehensive set of reform procedures, developed by the Basel Committee on Banking Supervision, to strengthen the law, supervision and threat of the global banking field. The Basel III reform gauges goal to enhance the banking field's capability to absorb shocks occurring from monetary and financial anxiety, enhance danger management and governance, and strengthen financial banks' openness and disclosures.