Oman Arab Bank hosts key forum
MUSCAT: Oman Arab Bank (OAB), one of the country’s leading financial institutions, recently hosted the Institute of International Finance (IIF) Middle East and Africa Chief Risk Officer Forum.
The forum brought together risk officers from IIF member financial institutions across the Middle East and Africa region to exchange ideas and valuable insights on key current topics in risk and their implications for the region.
The closed-door event was hosted by OAB in partnership with IIF at Grand Hyatt Muscat on April 23. Al Salt Al Kharusi, Head of Corporate and Institutional Banking of OAB, and Martin Boer, Director of Regulatory Affairs at IIF, oversaw the event.
Lamees Al Baharna, Chief Risk Officer of OAB, and CROs from other leading banks attended the forum.
In his welcome speech, Al Kharusi touched upon OAB’s rapid growth in recent years and the reasons for hosting the event.
Al Kharusi said, “As technology advances, so does the risk landscape. As a result, building a solid risk management framework has been a core focus of our bank transformation strategy over the past four years. Events such as these help facilitate the sharing of knowledge, while also providing an avenue to explore common issues and challenges faced, as well as discussing effective solutions, thereby contributing to the development of the sector as a whole.”
Al Baharna said, “The meeting focused on current issues affecting the region, such as the benefits and risks associated with machine learning, the challenges involved in establishing a robust framework for IFRS 9, and the impact of digitisation on current risk management procedures. The event also allowed us to facilitate the sharing of ideas and best practices, whilst also enhancing the cooperation between various IIF members in the region.”
In addition, the event included several detailed panel discussions and an overview of global regulatory reforms from IIF.
Full story @ timesofoman.com/business