Enough «Patilat»

We were shocked by the successive news and social media messages that spread, talking about the exposure of national and regional banks to a company providing medical services, and the biggest shock is that financial reports from some foreign countries showed the extent of fraud or fraud in estimating the company's assets, and the worst shock was that a national bank The huge amount, which originally formed from the merger of several national banks, is exposed from the many banks that form from it, in amounts we have not heard that this bank or others were exposed in the past, to the point that the bank responded to the rumors and stated that the exposure did not reach 1%. This issue will not be the last, and certainly not the first, due to several reasons which we will try to simplify next.

We see the necessity for the concerned authorities to intervene and obligate its imposition, whether those concerned with monitoring the financial and stock markets, the central bank, or even the public prosecutor and the authorities concerned with fighting corruption, we are not talking about car loans or home financing, but rather we are talking about numbers that we do not know the extent of their authenticity, But it - as we heard and read - accounts for nearly half of the federal government's budget.

I am also surprised at the monopoly of certain nationalities responsible for facilities, credit, oversight and governance .. Why are these sensitive jobs not being localized and monitoring this being achieved by indicators related to the "bonus", which is allocated to boards of directors and executive management of the banking sector?

Where is the cultural diversity in these jobs? And when we will learn from the Patel case, the last of which is Shetty and what is between them, that "what rubbed your skin like your fingernail", or if we wanted to be more transparent, and an excuse for the proposition, "a first face with the flesh of his revolution", why did we not hear about Patel as a citizen fleeing billions abroad? Because first: There are no citizens who may be fooled or colluded, or they can be bribed to place an imaginary and imaginary credit ceiling for another citizen without monitoring or follow-up.

And secondly, there is no citizen who may harm his country and his family in this way, except in a few odd exceptions, such as the story of the African magician and red mercury.

We are surprised when we hear in a national bank a "name" that the CEO of the acquired bank has become the chairman of the board of one of the banks that merged with him.

Where are the terms of reference separated? Is this not a door of conflict of interest?

Then we hear about a magical promotion for an employee of Asian nationality who is not the deputy director of management in the main bank, to become overnight after the merger the CEO of the bank that merged.

Where is the localization? What are the justifications for such magical promotions? No one knows, and the published press release did not mention the size of the magic promotion that no citizen employee of this bank or others will dream about.

When will we see real localization of positions and functions related to facilities, credit and oversight, governance and information security, risk management and internal audit? And when will the rumors stop that an employee has resigned because his role in facilitated facilities for his people has been exposed, or that an employee made transfers through organized theft and was exposed to the return of a check and his arrest at the airport by chance.

Where is the role of the Ministry of Human Resources and Emiratisation, the Federal Authority for Human Resources, the central bank and even the Court of Audit? Enough of the "Patelat".

A non-resident internal management consultant at the Emirates Center for Government Knowledge at the Mohammed bin Rashid School of Government