Abu Dhabi / WAM
The UAE Banks Federation (UBF) will be hosting its 4th Middle East Banking Forum in Abu Dhabi on November 14, under the theme, “Transforming the customer experience”, to highlight de-risking and its impact on regional banks.
A high level panel discussion is scheduled to explore the effects and ramifications of de-risking, which is where correspondent banking relationships are constrained or blocked by international regulators protecting their banks from perceived risk in certain markets. The panel will discuss a range of related topics such as how banks manage de-risking, how it affects their small and medium sized corporate clients in the Middle East in particular, and how to avoid its unintended consequences.
AbdulAziz Al Ghurair, Chairman of the UAE Banks Federation, said, “Because we live in a digital world where everything is quicker and less complicated but with more challenged regulations, banks have to put further efforts to promote and strengthen bonds of trust in the financial world. Trust about where someone’s money comes from, trust about who they are, trust even deriving from where they live. Today, de-risking is on everyone’s mind, not only banks, but corporates and individuals as well. Our aim for this year’s forum is to gather experts from around the world and try to come up with solutions that will benefit all stakeholders.”
Confirmed leading bank sponsors for this year include NBAD, Emirates NBD, ADCB, ADIB, Barclays, Mashreq, Commercial Bank of Dubai, Bank of Sharjah and UNB, among other key sponsors like Visa, Fitch Ratings, Latham and Watkins and MISYS Financial Software.
The event will be also covered by a group of regional and international media partners as well as key broadcast TV, CNBC Arabia.