In order to enhance the skills of inspectors of licensed financial institutions
The Central Bank launches the advanced certificate program for specialists in risk-based supervision
The Central Bank has developed additional workshops dedicated to enhancing the efficiency of its inspectors and supervisors.
Khaled Balama: “The launch of the program comes within the framework of the (central) efforts to achieve effective supervision of financial institutions.”
The Central Bank launched the Advanced Executive Certificate for Specialists in Risk-Based Supervision, which is the second level of the Internal Supervision Certificate Program, in line with its strategy to be among the best central banks in the world.
The bank said in a statement yesterday that the program aims to enhance the skills of the Central Bank's supervisors, who are in charge of inspecting licensed financial institutions in the UAE, within a risk-based supervisory framework.
Since its launch in 2021, 46 supervisors from UAE nationals have obtained the Executive Certificate (Level 1), which qualified them to join the Advanced Executive Certificate.
In addition, the program is designed to enable supervisors to follow a precautionary path or risk behaviour, to build relevant specialized skills.
And 12 inspectors and supervisors from the state were registered in the first group of the program, to enable them with tools and insights in assessing precautionary risks.
Additional groups are also planned to ensure that inspectors and supervisors continue to be equipped with the necessary knowledge and skills to effectively supervise licensed financial institutions.
The Central Bank has developed additional dedicated workshops to enhance the efficiency of its inspectors and supervisors to meet the evolving market requirements and assess the related risks, in order to further enhance monetary and financial stability in the UAE.
The program continues to be organized in association with the Irish Banking Institute, which is recognized by University College Dublin as a leader in training bankers and bank supervisors.
The Governor of the Central Bank, Khaled Muhammad Balama, said that “the launch of this intensive program comes within the framework of the efforts of the Central Bank to achieve effective supervision of licensed financial institutions by the inspectors and supervisors of the Central Bank, which would contribute to financial stability in the country.”
He added, "Through the advanced certificate program, we seek to empower inspectors with various skills related to risk assessment, to raise their level of efficiency, in line with the Emiratisation agenda of the UAE."
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