Arab Today, arab today most banks ready for new international regulations
Last Updated : GMT 20:07:07
Arab Today, arab today
Arab Today, arab today

Most banks ready for new international regulations

Arab Today, arab today

Arab Today, arab today Most banks ready for new international regulations

Manama - Arabstoday

Eighty per cent of Arab banks are in a position to meet new international regulations on the level of reserves they need to hold while all banks in Bahrain meet these standards, said a top official. Union of Arab Banks (UAB) chairman Adnan Ahmed Yousif was speaking on the sidelines of the annual Arab Banking Conference, which opened at the InterContinental Regency Bahrain in Manama yesterday. Yousif, who is also chief executive of Al Baraka Banking Group, said there were 103 banks from 22 countries taking part in the event which has attracted more than 200 delegates on its first visit to Bahrain as a venue, according to a report in our sister publication, the Gulf Daily News. He said the Arab banking industry was well prepared to implement the Basel III international regulations which will come into force over the next few years as banks are told to strengthen their reserves and liquidity. In his keynote address to the conference, Yousif said that the role of the UAB was to implement development across the Arab world and encourage investment in Arab countries and to see that the private sector engages with the public sector in achieving this. "Unemployment across the Arab world is now running at around 16 per cent and it is up to the private sector to work with the public sector and the banking industry to deal with this problem," he said. "The UAB has made steady progress with its member banks by looking at the challenges that face us in terms of legislation. We are confident that we can all benefit from these efforts and achievements." He said that Bahrain had been a pioneer in developing banking in the Arab world, both in terms of traditional finance and in developing Islamic finance. "Bahrain's financial sector was set up in 1964 with the launch of the Bahrain Monetary Authority," he said. "The kingdom has led the way in finance in the region and that is why today it has 114 Islamic finance institutions and more than 400 banks and other operations, creating 17 per cent of the country's gross domestic product and employing in excess of 14,000 people of whom two-thirds are Bahraini," he added. "Despite the difficult global economic situation the Arab banking sector has been producing positive results," Central Bank of Bahrain (CBB) Governor Rasheed Al Maraj told delegates at the opening session. "This reflects the professional standards of the Arab banking sector and a commitment to compliance and international best practice which allows us to improve risk management," he said. "This has allowed the industry to improve profit levels while maintaining the confidentiality of deals. The banking sector is passing through a delicate phase and this requires institutions to adopt strict compliance to maintain efficiencies in the Arab banking sector. "The CBB has been keen to apply international standards and stays in harmony with international trends and the application of Basel III," he added. From Albawaba

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today most banks ready for new international regulations Arab Today, arab today most banks ready for new international regulations

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today most banks ready for new international regulations Arab Today, arab today most banks ready for new international regulations

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today US-made bomb used in fatal strike

GMT 10:16 2017 Saturday ,23 September

US-made bomb used in fatal strike
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday