Abu Dhabi: The Central Bank of the United Arab Emirates (CBUAE) has initiated the fifth round of the Executive Certificate for Risk-Based Supervision Professionals.
In order to improve financial and monetary stability in the UAE, the program seeks to certify and improve supervisors’ abilities. This will allow them to recognize possible risks and mitigate their impact on the financial system.
The launch of this updated program comes as part of the Central Bank’s keenness to enhance the technical expertise and capabilities of the participant supervisors by using the relevant specialist skills in prudential and conduct risk in light of the regulatory and technological developments in the global financial system. Further cohorts and customized risk workshops are also planned for this year, with the aim of updating the participants on the best supervisory practices that enable identifying risks.
Since its launch in 2021, 46 UAE national supervisors have achieved Executive Certificate Level 1, and 39 have proceeded to achieve the Advanced Executive Certificate. The Executive Certificate program operates in cooperation with, and is accredited by, the Institute of Bankers (IOB), a recognized college of the University College Dublin and a leading institute in training bankers and bank supervisors.
Ahmed Saeed Al Qamzi, Assistant Governor for Banking and Insurance Supervision at the CBUAE, said that, “Our internationally accredited program supports the CBUAE’s efforts aimed at developing the expertise and competencies of Emirati cadres to contribute to enhancing monetary and financial stability, developing the financial sector, and supporting the country’s Emiratization agenda. Through this program, we are equipping our supervisors with an in-depth understanding of risks, associated regulations, and appropriate supervisory practices enabling them to navigate and excel in a dynamic environment, setting the standards for the financial industry, which will promote and safeguard the UAE’s financial system.”