ADIB hosts com­pli­ance fo­rums for banks

The Gulf Today - Business - - UAE -

ABU DHABI: Abu Dhabi Is­lamic Bank (ADIB) held fo­rums on the in­ter­na­tional reg­u­la­tory en­vi­ron­ment for banks from Su­dan and Iraq to sup­port the in­creas­ing in­te­gra­tion of the two coun­tries into the global econ­omy. The fo­rums fol­lowed the lift­ing of the United States’ long­stand­ing sanc­tions against the gov­ern­ment of Su­dan on Sun­day.

ADIB, which has branches in Iraq and Su­dan, is play­ing a lead­ing role in con­nect­ing the coun- tries’ inan­cial sec­tor to Global mar­kets, pro­vid­ing greater op­por­tu­nity for in­ter­na­tional trade and in­vest­ment.

The two sep­a­rate fo­rums, held in Abu Dhabi, gath­ered around 50 bankers from each coun­try, to dis­cuss the evolv­ing in­ter­na­tional reg­u­la­tory en­vi­ron­ment for inan­cial In­sti­tu­tions, AND How they Im­pact inan­cial AND TRADE lows.

They ad­dressed is­sues such as Basel III and IFRS 9 re­quire­ments as well as anti-money laun­der­ing mea­sures.

ADIB ex­ec­u­tives also led a dis­cus­sion on the lat­est devel­op­ments in the in­ter­na­tional bank­ing en­vi­ron­ment.

“Both Iraq and Su­dan are emerg­ing from the side­lines of the global econ­omy, and greater par­tic­i­pa­tion in trade and in­vest­ment lows Is vi­tal For so­cio-eco­nomic de­vel­op­ment of the coun­tries,” said An­dreas Mele­tiou, ADIB’S Head of Global Fi­nan­cial In­sti­tu­tions. “Be­cause of our unique foot­print across the Mid­dle East and North Africa, ADIB plays a piv­otal role in form­ing re­la­tion­ships be­tween re­gional AND Global inan­cial In­sti­tu­tions and busi­nesses. These sem­i­nars are equally im­por­tant for trans­fer of knowl­edge and ex­pe­ri­ences, as well as for deep­en­ing net­works.”

ADIB, which has a large re­tail and cor­po­rate bank­ing op­er­a­tion in its home mar­ket of the UAE, also op­er­ates a wide in­ter­na­tional net­work, in­clud­ing Egypt, Iraq, Su­dan and the United King­dom.

The bank de­ploys this net­work to sup­port multi­na­tion­als op­er­at­ing across the Mid­dle East, as well as re­gional banks and com­pa­nies that are look­ing to ac­cess global mar­kets, pro­vid­ing cor­re­spon­dent bank­ing ser­vices, as well as trade fi­nance.

The Abu Dhabi Is­lamic Bank com­pli­ance fo­rum, held to sup­port in­creas­ing in­te­gra­tion of Su­dan, Iraq into global econ­omy, in progress.

Newspapers in English

Newspapers from UAE

© PressReader. All rights reserved.