Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, held an interactive workshop on ‘Financial Challenges in Banks’.
The session drew the participation of over 270 senior representatives from over 20 banks and financial institutions.
Conducted by Hussam A. Al-Abed, renowned financial, banking and cybercrime prevention trainer and consultant, the workshop took place amid growing concerns facing the banking sector in the UAE and the wider region. The session provided a holistic overview of the challenges that affect the industry – whether directly or indirectly – including money laundering, terror funding, sanctions and cybersecurity.
Jamal Al Jassmi, General Manager of EIBFS, said: “Amid the conversations around safety, security and transparency in the financial sector, we have identified the need to raise awareness among the banking community and prepare it to address the risks. Our latest interactive workshop on the topic explored solutions to the most pressing issues industry professionals encounter in their work at a time of growing economic volatility and technology disruption.”
He added: “EIBFS is committed to organizing expert-led sessions that provide valuable insights and sound technical knowledge on relevant subjects.”
Hussam A. Al-Abed said: “I thank EIBFS for giving me the opportunity to speak to such a diverse number of banking professionals on the real threats facing our industry. As cybersecurity is a growing concern, banks must work to resolve issues that may affect their reputation and protect themselves from cyberattacks with proactive, well thought out initiatives. Furthermore, stringent compliance with the law, transparency and appropriate use of technology are among the integral elements of a secure banking ecosystem.”
EIBFS has been at the forefront of advanced financial education and capacity-building. In March 2019, the Institute entered a strategic partnership with PwC’s Academy Middle East to offer three new professional certificate courses in Fintech, Blockchain and Data Analytics.
In addition, EIBFS’s 2019 annual training program places high emphasis on techno-functional skills, featuring 13 courses on Fintech, Digital, Blockchain, AI, IoT, Cybersecurity and Business Analytics, among other focus areas.