EIBFS holds compliance workshop in Abu Dhabi

The event served as a strategic platform for members of the UAE banking community to share experiences and knowledge in managing compliance risks while at the same time reinforce ties between fellow compliance professionals.

The event was highlighted by key speeches and presentations made by leading compliance experts that included:

•Kenneth Lobo, Head of Regulatory Compliance and Monitoring-Group Compliance, Dubai Islamic Bank (Developing an Effective Regulatory Compliance Programme).

•Columcille O'Donnell, Head of Group Compliance-Compliance Division, National Bank of Abu Dhabi (Foreign Account Tax Compliance Act).

•Umair Hameed, Assistant Director for the Financial Services Industry, Deloitte Corporate Finance Limited (The impact of increased regulations on the financial services sector)
The specialized workshop also included a panel discussion where participants and speakers were able to interact and discuss timely issues and challenges in compliance across the UAE banking scene.

"The Middle East region's financial markets, particularly in the UAE, have witnessed the emergence of more rigorous regulatory scrutiny, which in turn has resulted in a stronger concentration on compliance," said Essa Al Zaabi, Deputy General Manager, EIBFS.

"The workshop aimed at addressing the key challenges presented in compliance, which is marked by our call for a more vigilant compliance function that can eventually create a more effective and sound system of control. We would like to express our appreciation at the participants who attended and the compliance experts who shared their knowledge with us. True enough, the event demonstrates our steadfast commitment towards providing the banking and finance segment with strategic and relevant training programmes and courses," he added.