He warned of job clusters in its departments

A parliamentarian proposes the settlement of "decision-making departments" in banks

  • Al-Salami presented the proposal to the Minister of State for Financial Affairs.

    From the source

  • Obaid Al-Salami: “Some banks deliberately despoil any citizen, especially if he is diligent and qualified to study.”

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A member of the Federal National Council, Obaid Khalfan Al Ghoul Al-Salami, submitted a parliamentary proposal to the Minister of State for Financial Affairs, Obaid bin Humaid Al Tayer, regarding the development of a five-year plan, aimed at settling decision-making departments in state banks, through the sending of citizens for higher studies in the field of risk management in distinguished countries In this field, to qualify them to occupy positions and positions in these departments in various state banks to protect the national economy.

Al-Salami told Emirates Today, “The UAE ranks first in the Arab world, and has achieved advanced ranks among the countries of the world on the World Bank’s Financial Inclusion Index, and the banking sector has a major role in the country's access to this global level, in addition to the financial sector’s contributions to the growth of National economy and domestic product.

However, despite this superiority, there is a negative phenomenon that has repeated its occurrence five times during the last 20 years, represented in the flight of investors and traders in amounts borrowed in billions from state banks, which raises questions about how these people obtained these huge sums from banks, and transferred them abroad. ... and the supervisory role on banks.

Al-Salami added: “I see that there is a common loophole between the Central Bank and the banks, represented in the leniency in granting funds to some large companies without guarantees, and this is due to job clusters in banks, and some employees’ pursuit of rewards for granting loans to investors, regardless of the consequences of this procedure. Waste of the bank’s money and losses in the event of not obtaining adequate guarantees from the borrowers ».

He continued: “Despite the Central Bank’s evaluation of the credit policy of banks, in order to facilitate knowing whether the banks are cautious and aware of the risks resulting from credit concentration in one borrower, but the main weakness lies in the absence of the concerned credit risk departments in banks, which are the responsible party. On guaranteeing the safety of loans and clients and monitoring their conditions, from national or even Arab cadres, in all state banks, with the exception of one bank. All leadership positions and jobs in those departments are free of the citizen or Arab element, in exchange for concentrating the occupation of these jobs or monopolizing them in the interest of two Asian nationalities, Rather, some banks deliberately follow a policy of intimidation against any citizen element that may pose a future threat to take up this position, especially if he is diligent and qualified.

Al-Salami stressed that he submitted a parliamentary proposal to the Minister of State for Financial Affairs, Obaid bin Humaid Al Tayer, regarding the necessity of resettling decision-making departments in banks, and focusing specifically on resettling a responsible position and employees of risk departments in banks, provided that the implementation is in accordance with a future five-year plan, or within 10 Years, with the scholarship for distinguished citizens to study through educational paths that qualify for the study of master's and doctoral degrees in risk management specializing in countries of excellence in this field.

He pointed out that the proposal included taking immediate and direct measures to diversify the nationalities of managers and officials of risk departments, to make them consist of more than one nationality, and not to keep the risk management official in banks for a long time, with the need for major corporate borrowers and customers who borrow in billions under the direct control of the Central Bank Because the risks of these customers go beyond the risk of the borrower's bank, to negatively affect the national economy of the country.

• Al-Salami’s plan included a scholarship for citizens to study risk management specialization in countries that are distinguished in this field.

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