Banker's Academy presents on Risk Management and Internal Controls at AML Compliance Seminar in Saudi Arabia

Held on the second day of the two-day seminar, the discussion was part of a series of panel sessions to raise awareness about new AML regulatory challenges and developments in the Kingdom of Saudi Arabia and across the Gulf Cooperative Council (GCC).

During the session entitled "Risk Management & Internal Controls - KYC for Banks," Edcomm Banker's Academy led a discussion on the risks associated with the rapid development of the banking sector and new initiatives for foreign investor access to the Saudi Stock market. The panel also addressed the procedures for reporting and making disclosures on suspicious transactions to be followed by financial institutions, including the top banks in Saudi Arabia: National Commercial Bank, Riyad Bank, Saudi American Bank, Al Rajhi Banking and Investment Corp., Saudi British Bank, Arab National Bank, Al Bank Al Saudi Al Fransi, Saudi Hollandi Bank, and Al-Jazeera bank.

Dr. Linda Eagle, President and Founder of Edcomm Banker's Academy, was joined on the panel by the following field experts: Hany Faidy, senior vice president and head of the Compliance Division, The National Commercial Bank; Michael Lesser, managing director, Supervision of Financial Institutions, QFCRA; Terence Donovan, senior financial sector expert, Legal Department, International Monetary Fund.