Central Bank of UAE awards certificates to 25 UAE national professionals for risk based supervision

STOCK Central Bank of the UAE  CBUAE
Central Bank of the UAE in Abu Dhabi. Executive Certificate for Risk-Based Supervision Professionals was awarded to 25 UAE nationals. Image Credit: Courtesy Central Bank of the UAE

Abu Dhabi: Executive Certificate for Risk-Based Supervision Professionals was awarded to 25 UAE nationals in a ceremony attended by Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE) and Mary O’Dea, Chief Executive of Irish Banking Institute (IOB) on 20 May 2021.

In January 2020, the CBUAE launched an in-house Risk-Based Supervision Professionals Programme, in line with its strategic objectives to become one of the top central banks globally. The programme is designed to enhance the skills of CBUAE supervisors who examine licensed financial institutions.

The programme has been developed in cooperation with and accredited by the Institute of Banking (IOB), a recognised college of the University College Dublin and a leading institute in training bankers and bank supervisors.

The programme provides the necessary knowledge for examiners to practice their responsibilities. It covers financial and market conduct risks, anti-money laundering and counter-terrorism financing. The programme is delivered by CBUAE’s specialised senior staff members and faculty members of the IOB, providing a unique mix of theoretical knowledge and practical skills, increasing the effectiveness of supervision, and contributing towards a better understanding of the risks facing banks and other financial institutions in the UAE.

“As we aim for excellence in all our areas of business, this investment by the CBUAE in Emirati talent strengthens our banking supervisory capacity and contributes to the Emiratisation agenda of the UAE. This particular program is tailor-made for the CBUAE, and has further equipped our examiners with the necessary knowledge and skills to apply the best supervisory practices to the assessment of broad variety of risks. This initiative will contribute to our capacity to promote financial stability in the UAE,” said Balama.