MENA CRO Conference hosted by NBAD voted a success

Mr. Sakit Al Jundi, GM&CRO, NBAD explained that the Basel II accord has triggered the need for implementing good practices in Risk Management. Several topics of mutual interest were discussed, including areas of developing common databases for sharing default data across banks initially at country level and subsequently extended to regional level.

The Group invited experts to give presentations and share their insights on similar projects and handling matters of data confidentiality. The forum also provided a good platform for understanding developments in the region and identifying areas of divergence, referring to approaches adopted by regulators, matters of national discretion, capital adequacy percentages and timetable for adopting Basel II.

Mr. Sakit Al Jundi explained that these thoughts will be put across to regional regulators during the next two day conference organized by the Arab Monetary Fund and Financial Stability Institute in collaboration with the Central Bank of UAE and the Institute of International Finance with the objective of facilitating greater regional economic integration in the future.