Financial Technologies to hold seminar on Basel II accord and its implications for the UAE financial sector

Even as the implementation of the Basel II norms is underway in the UAE financial sector, Financial Technologies Middle East (FTME), a leading technology enterprise along with Riskraft a leading consultancy enterprise, have announced that they would hold a seminar on the topic 'Basel II and Beyond,' attended by risk management professionals from banks, exchanges, insurance companies and other financial institutions.

The seminar, to be held on June 28th 2007 at the Madinat Jumeirah and chaired by Dr.A.K.Nag, a former senior executive with the Reserve Bank of India, follows the successful regional launch of 'Riskraft', a knowledge and consulting initiative of Financial Technologies for providing Basel II consulting services in the area of financial risk management, quantitative techniques, risk analytics and data warehousing. The seminar will shed ample light on Basel II Accord and its impact on the UAE banking and financial sector.

Elaborating on the seminar, Arshad Khan, Director, Financial Technologies Middle East, said that the decision to hold the seminar was taken with a view to bring about clarity on the entire gamut of issues arising out of the implementation of Basel II regulatory framework.

"As the banks are expected to comply with the accord by December 31, 2007, it is important that we generate adequate awareness about all aspects of the accord. We are very happy to bring to the UAE Dr. A.K. Nag, who was instrumental in setting up Reserve Bank of India's enterprise wide data warehouse, a pioneering effort for a central bank anywhere," he added.