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Sharm el-Sheikh conference urges Arab banks to insulate itself
11/26/2014 0:00
Shammari which called for addressing financial crises
BAGHDAD
Financial stability is the most important crisis response axes, through prudential measures that address any emergency facing the financial sector, and to maintain the level of public spending away from the different influences that are exposed due to the volatility of fiscal revenues and the resulting problems of the country.
International Union of Arab Bankers academic Iraqi member d. Sadiq al-Shammari stressed the importance of strengthening the role of central banks to reduce systemic risk and protect financial stability by taking precautionary measures at the macro and micro levels supported by appropriate early warning systems compatible with the economic environment variables in order to cope with various crises. He said the "morning" that the Sharm el-Sheikh conference held recently urged the central bank to prepare and fortify themselves well against financial crises in the future to overcome the financial turmoil and support stability proactively taking into account the conditions of Arab States at the moment and support the local economy, through internal growth sustainable.
Systemic risk
And between Shammari said the recommendations of the conference included the stimulation of Arab Banks to pay attention to the process of self-assessment of capital adequacy as to contribute to the improvement of the quality of the evaluation process and to support banks in the face of extraordinary circumstances, also stressed the need for banks interest to hold pressure on several levels of tests on a regular basis and analyze the results and developed in the light of study projected future changes, indicating the importance of central banks begin testing the pressure from their point of view measures taking into account the systemic risk and the need for continuous communication between the central banks and conventional banks in this regard.
Exchange of experiences
Strengthening the role of the Union of Arab Banks through the formation of a standing committee is concerned with the decisions of the Basel and coordinate with Arab banks to exchange experiences among them, especially in relation to Bmsthaddthat and applications of Basel in order to improve risk management of Arab Banks level, as well as strengthening the role of central banks in the evaluation and follow-governance applications prominent What addressed the conference, according to al-Shammari.
He said the conference focused on the importance of strengthening the role of the senior management of the banks in the consolidation and dissemination of risk culture and to develop effective solutions to them, urging the Islamic banks to strengthen the role of the administration of the Islamic and developing strategies and policies that fit in with the special nature of these banks risks of banking, as banks demanded an in-depth study of the standards The new liquidity in the framework of the Basel and get ready to be applied in coordination with central banks.
And the role of Islamic banks in this critical stage that happening once the world markets in the light of the volatility of oil prices Shammari said that the central banks in determining the important banks locally and put defined clearly in preparation for the development of control procedures to be followed and extra special requirements of capital required, indicating the need for a regulatory framework and ensures regulatory and standardization of opinions and interpretations of sharia law, which focuses on strengthening the trust of the owners of the various interest groups in the Islamic finance industry box.
Research centers
Shammari stressed the importance of coordination between regulators and educational entities in the field of Islamic finance and support the establishment of research centers for the development of special products to hedge against operational risks and the dangers of Shariah-compliant Islamic market, as well as a framework for appropriate corporate governance practices comply with Islamic law includes that there is a part of the financial overseeing includes financial reporting and combine accounting, auditing and financial solvency and insolvency cases, risk management, transparency, disclosure, and corporate governance.
Blending of experiences
He urged the departments of banks, the Iraqi Islamic to find a mechanism for control of the capital adequacy ratio and make them according to the decisions of the Basel Committee and the decisions of the Central Bank of Iraq, to ensure their application, pointing out that it requires the Islamic banks have a system to estimate the level of capital required compared to the level of risk as well as the formulation of a clear strategy on capital at the appropriate level required if the increased Almkhatr.vdila recruiting highly qualified letter of the Islamic bank, and put instructions and guidelines for measuring Almkhatr.oakhtaatm Shammari speech focusing on the establishment of an Islamic investment funds specializing in real estate financing in each bank Islamist and can invest these funds to contribute Contracting linked to the Ministry of Construction and Housing Corporation for the purpose of providing soft loans.
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11/26/2014 0:00
Shammari which called for addressing financial crises
BAGHDAD
Financial stability is the most important crisis response axes, through prudential measures that address any emergency facing the financial sector, and to maintain the level of public spending away from the different influences that are exposed due to the volatility of fiscal revenues and the resulting problems of the country.
International Union of Arab Bankers academic Iraqi member d. Sadiq al-Shammari stressed the importance of strengthening the role of central banks to reduce systemic risk and protect financial stability by taking precautionary measures at the macro and micro levels supported by appropriate early warning systems compatible with the economic environment variables in order to cope with various crises. He said the "morning" that the Sharm el-Sheikh conference held recently urged the central bank to prepare and fortify themselves well against financial crises in the future to overcome the financial turmoil and support stability proactively taking into account the conditions of Arab States at the moment and support the local economy, through internal growth sustainable.
Systemic risk
And between Shammari said the recommendations of the conference included the stimulation of Arab Banks to pay attention to the process of self-assessment of capital adequacy as to contribute to the improvement of the quality of the evaluation process and to support banks in the face of extraordinary circumstances, also stressed the need for banks interest to hold pressure on several levels of tests on a regular basis and analyze the results and developed in the light of study projected future changes, indicating the importance of central banks begin testing the pressure from their point of view measures taking into account the systemic risk and the need for continuous communication between the central banks and conventional banks in this regard.
Exchange of experiences
Strengthening the role of the Union of Arab Banks through the formation of a standing committee is concerned with the decisions of the Basel and coordinate with Arab banks to exchange experiences among them, especially in relation to Bmsthaddthat and applications of Basel in order to improve risk management of Arab Banks level, as well as strengthening the role of central banks in the evaluation and follow-governance applications prominent What addressed the conference, according to al-Shammari.
He said the conference focused on the importance of strengthening the role of the senior management of the banks in the consolidation and dissemination of risk culture and to develop effective solutions to them, urging the Islamic banks to strengthen the role of the administration of the Islamic and developing strategies and policies that fit in with the special nature of these banks risks of banking, as banks demanded an in-depth study of the standards The new liquidity in the framework of the Basel and get ready to be applied in coordination with central banks.
And the role of Islamic banks in this critical stage that happening once the world markets in the light of the volatility of oil prices Shammari said that the central banks in determining the important banks locally and put defined clearly in preparation for the development of control procedures to be followed and extra special requirements of capital required, indicating the need for a regulatory framework and ensures regulatory and standardization of opinions and interpretations of sharia law, which focuses on strengthening the trust of the owners of the various interest groups in the Islamic finance industry box.
Research centers
Shammari stressed the importance of coordination between regulators and educational entities in the field of Islamic finance and support the establishment of research centers for the development of special products to hedge against operational risks and the dangers of Shariah-compliant Islamic market, as well as a framework for appropriate corporate governance practices comply with Islamic law includes that there is a part of the financial overseeing includes financial reporting and combine accounting, auditing and financial solvency and insolvency cases, risk management, transparency, disclosure, and corporate governance.
Blending of experiences
He urged the departments of banks, the Iraqi Islamic to find a mechanism for control of the capital adequacy ratio and make them according to the decisions of the Basel Committee and the decisions of the Central Bank of Iraq, to ensure their application, pointing out that it requires the Islamic banks have a system to estimate the level of capital required compared to the level of risk as well as the formulation of a clear strategy on capital at the appropriate level required if the increased Almkhatr.vdila recruiting highly qualified letter of the Islamic bank, and put instructions and guidelines for measuring Almkhatr.oakhtaatm Shammari speech focusing on the establishment of an Islamic investment funds specializing in real estate financing in each bank Islamist and can invest these funds to contribute Contracting linked to the Ministry of Construction and Housing Corporation for the purpose of providing soft loans.
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