The Central Bank is preparing a "fit and proper" test for appointments to executive positions in the financial services sector.
In a speech given last week but released yesterday, Sultan bin Nasser Al Suwaidi, the Governor of the Central Bank, said that the banking regulator would seek to ensure that executives at UAE lenders had the necessary technical understanding to safely manage their organisations.
"This test is focused on ensuring that such officers do have the required technical expertise, including expertise in risk assessment and risk management, which proved essential in the wake of the recent international financial crisis," he said. In his speech, Mr Al Suwaidi called on lenders to attempt to minimise the effect that a single bloc within a bank's board can have on its appetite for risky lending.
No comments:
Post a Comment