National Bank of Dubai (NBD) recently hosted the semi-annual Institute of International Finance (IIF) MENA Chief Risk Officers (CRO) Forum at the Park Hyatt Hotel.
The MENA CRO Forum gathers Chief Risk Officers as well as other senior risk professionals from IIF member banks in the MENA region in order to discuss risk management and regulatory issues pertinent to current banking trends and needs. The meeting was attended by representatives from banks in Jordan, Lebanon, Saudi Arabia, Kuwait, Bahrain and UAE.
During the recent years, the Forum has focused its activities on issues regarding the implementation of the new Basel II framework in the region as well as related technical issues in the credit, market and operational risk areas. In addition, the Forum has dealt with broader risk management issues including business continuity planning, default databases for credit risk calculations and IT security risks.
Besides providing an informal setting for the discussion of technical issues regarding risk management, the Forum provides the opportunity for Risk Managers to meet their peers at other regional banks and conduct valuable networking.
Mr. R. Douglas Dowie, NBD Group Chief Executive, commented:" Inter-bank collaboration on non-competitive issues, such as risk management, in the MENA region is very important as it contributes to the long-term financial stability of the region, which is vitally important to all stakeholders. I am particularly pleased that the agenda included an in-depth discussion on defining banks' risk appetite. Managing risk across all businesses is plain commonsense, as it moves organizations very firmly away from the traditional silo-based approach."
About National Bank of Dubai
Founded in 1963, National Bank of Dubai is the oldest, locally incorporated bank in the Southern Gulf. Known as the bank with a performance that is second-to-none, NBD has built a reputation of stability and strength much appreciated by shareholders and customers alike. Recognizing this leading performance, NBD has been awarded with the Dubai Quality Award for the year 2005.
Offering diversified financial services, NBD is a leader in corporate banking. Its portfolio covers a wide range of services including transport, real estate, construction, manufacturing, tourism and service industries throughout the region. In addition, NBD’s ‘Private Office’ provides private banking services, offering highly tailored solutions to preserve and protect the personal wealth of its customers. Along with supplying customers with a variety of exclusive service based products, secured facilities, Credit Cards, personal loans, , auto loans and home loans, National Bank of Dubai also offers a variety of treasury products and services, advising customers on exchange markets and interest rate outlook. NBD, also launched Suhail Priority Banking Services, a premier banking service offering customers personalized relationship management and a host of exclusive products and services. Furthermore, NBD offers customers automated banking services, which consist of an internet service (NBD Online), a telebanking facility (NBD Telebank), an SMS based service (NBD Mobile) and an online brokerage trading in UAE shares through its subsidiary, NBD Securities.
NBD also recently established NBD Investment Bank which is its’ investment arm operating from DIFC.
With a comprehensive card portfolio that provides an array of benefits, NBD has, over the years, built a wide ATM network as well as Point of Sale terminals in select locations throughout the UAE.
National Bank of Dubai currently has an extensive branch network that includes 40 branches throughout the UAE. In addition, NBD also has a branch in London and Qatar as well as a representative office in Tehran.
