UAE central bank introduces program for risk-based supervision professionals

Monday marked the commencement of the fifth round of the Executive Certificate program for professionals in risk-based supervision by the Central Bank of the UAE (CBUAE).

The principal aim of this program is to certify and improve the competencies of administrators, thereby empowering them to discern potential hazards and alleviate their repercussions on the financial system. Contributing to the improvement of financial and monetary stability in the UAE is the objective.

The Executive Certificate program operates in collaboration with the Institute of Bankers (IOB), a recognized college of the University College Dublin and a leading institute in training bankers and bank supervisors. This collaboration ensures that the program is internationally accredited, meeting high standards of education and training in the field.

According to the Central Bank, the program also includes plans for holding further cohorts and customized risk workshops throughout the year. These initiatives are designed to provide participants with updates on the best supervisory practices, ensuring that they are well-equipped to identify and manage risks effectively.

Since its initiation in 2021, the Executive Certificate program has seen 46 UAE national supervisors achieving the Executive Certificate Level 1. Moreover, 39 of them have progressed to achieve the Advanced Executive Certificate, highlighting the success and positive impact of the program on the professional development of supervisors in the country.

Ahmed Saeed Al Qamzi, Assistant Governor for Banking and Insurance Supervision at the CBUAE, emphasized that the internationally accredited program supports the central bank's efforts in developing the expertise and competencies of Emirati cadres. This, in turn, contributes to enhancing monetary and financial stability, fostering the development of the financial sector, and supporting the country’s Emiratisation agenda.

The launch of the updated program underscores the central bank’s commitment to staying abreast of regulatory and technological developments in the global financial system. It reflects the institution's dedication to enhancing the technical expertise and capabilities of participating supervisors, ensuring they are well-prepared to navigate the complexities of prudential and conduct risk.

Read also: UAE introduce 73 laws in 2023 with a new website clarifies legislation

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