Latest news with #FinancialStability
Associated Press
5 days ago
- Business
- Associated Press
One-Day Workshop Preps Firms for 2025 Regulatory Deadline on Operational Strength (ONLINE EVENT: September 29, 2025)
DUBLIN--(BUSINESS WIRE)--Aug 4, 2025-- The 'Operational Resilience Preparedness and Compliance' has been added to offering. This course empowers participants to navigate and fulfill the FCA's criteria of operational resilience, providing a clear pathway to compliance. Don't wait--prepare your organization today to remain resilient amid economic and technological challenges. Secure your financial institution's future by enhancing your operational resilience with our intensive one-day course led by a senior expert with over 30 years of industry experience. This course will equip you with the understanding and tools necessary to align your organization's practices with the UK's Financial Conduct Authority (FCA) requirements, meeting the March 31, 2025 compliance and reporting requirements. In today's volatile economic landscape marked by political upheavals, high inflation, climate change, and technological advancements, having a robust operational resilience framework is as crucial as financial resilience. UK and international financial regulators now mandate that financial institutions not only focus on financial stability but also strengthen their operational systems to weather disruptions effectively. Offered by a senior expert from the FCA, this practical course provides an in-depth exploration of key aspects of operational resilience. Expect to leave with hands-on knowledge and strategic approaches that are instantly applicable within your organization. Ideal for senior managers, compliance officers, and risk managers, the program covers essential topics such as identifying critical business services, establishing impact tolerances, and implementing scenario testing. Who Should Attend: Personnel from banks, building societies, PRA-designated investment firms, insurers, Recognised Investment Exchanges, Enhanced scope Senior Managers and Certification Regime firms, entities authorised and registered under the Payment Services Regulations 2017 and Electronic Money Regulations 2011. Key Learning Outcomes Include: Key individual roles that will benefit from this course are: Key Topics Covered: For more information about this training visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. View source version on CONTACT: Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 KEYWORD: UNITED KINGDOM EUROPE INDUSTRY KEYWORD: FINANCE BUSINESS PROFESSIONAL SERVICES TRAINING EDUCATION SOURCE: Research and Markets Copyright Business Wire 2025. PUB: 08/04/2025 07:59 AM/DISC: 08/04/2025 07:59 AM
Emirates 24/7
5 days ago
- Business
- Emirates 24/7
CBUAE issues 2024 Financial Stability Report
The Central Bank of the United Arab Emirates (CBUAE) has issued its 2024 Financial Stability Report, which includes a comprehensive assessment of financial system stability and financial developments across sectors amidst increased global challenges and risks. The report affirmed the robustness of the UAE banking sector, supported by strong capital and liquidity buffers, alongside improved asset quality and continued growth. Financial stability risks in the country remained broadly contained and unchanged, due to robust economic fundamentals, prudent policies, and effective risk management. The report reviews domestic and global macroeconomic trends, financial market conditions, the performance of various sectors, and regulatory developments, with a focus on resilience aspects and emerging risks. It also underscores the CBUAE's commitment to fostering proactive risk monitoring, innovation, and transparency, supporting financial system resilience, and collaborating with local and international partners to enhance the UAE's position as a leading global financial hub. The strong performance of the financial system contributed to enhancing the nation's economic resilience. The UAE's real GDP grew by 4 percent in 2024, driven by growth momentum in the non-oil sector, a key driver for economic diversification. The overall GDP growth outlook is also expected to remain positive for the coming years, reaching 4.4 percent in 2025 and rising to 5.4 percent in 2026. In 2024, the UAE's financial system experienced robust and stable conditions. A significant step in enhancing coordination among key stakeholders was the operationalisation of the UAE Financial Stability Council, chaired by H.H. Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, Chairman of the Central Bank and Chairman of the Financial Stability Council. This move represented a crucial stride towards bolstering coordination among stakeholders, activating systemic risk oversight, facilitating the assessment of emerging risks, and streamlining timely policy responses to horizontal risks. 2024 also saw the CBUAE reinforce its regulatory and supervisory frameworks through the implementation of new macroprudential tools, strengthening cybersecurity requirements, advancing in sustainable finance, and expanding the scope of climate change risk assessment, in line with international best practices. The comprehensive stress tests conducted by the CBUAE in 2024 confirmed the ability of the UAE's banks to absorb macroeconomic shocks, continue providing credit facilities even under hypothetical adverse scenarios, and maintain high levels of capital and liquidity exceeding minimum requirements, highlighting the banking sector's resilience in addressing global risks. The UAE's non-bank financial institutions (NBFIs) sector achieved significant positive results at various levels. The insurance sector remained resilient, with adequate solvency positions and substantial growth of 21.4 percent, bringing total gross written premiums to AED64.8 billion, thereby reinforcing policyholders' rights. Overall, finance companies maintained adequate capitalisation with further improvements in liquidity levels, while money exchange businesses continued to demonstrate their resilience and operational stability. 2024 also witnessed an acceleration in digital transformation, reflected in increased adoption rates of FinTech and digital payments, the expansion of banking services, and the integration of artificial intelligence and data analytics. The CBUAE continued to develop the national payment and settlement infrastructure through the launch of the Domestic Card Scheme "Jaywan", the widespread adoption of the 'Aani' Instant Payment Platform, and the progress made in the central bank digital currency (CBDC) "Digital Dirham", all of which enhanced the financial system's efficiency and resilience. The report anticipates that the outlook for the UAE's financial system will remain positive, supported by robust economic fundamentals, prudent economic management, and the CBUAE's efforts to support financial system resilience, enhance proactive risk monitoring, innovation, and transparency. Khaled Mohamed Balama, Governor of the CBUAE, said, "The UAE maintained strong economic and financial conditions in 2024, despite growing economic challenges and increasing global risks, supported by national economic growth and the banking system's robustness and resilience. "At CBUAE, we are committed to steadily progressing towards achieving the vision of our wise leadership, the nation's development plans, and our strategic objectives by developing the financial system's regulatory and supervisory framework to ensure sustainable resilience, enhance financial and economic stability, and drive growth momentum and prosperity in the UAE."
Zawya
5 days ago
- Business
- Zawya
CBUAE issues 2024 financial stability report
Abu Dhabi: The Central Bank of the United Arab Emirates (CBUAE) has issued its 2024 Financial Stability Report, which includes a comprehensive assessment of financial system stability and financial developments across sectors amidst increased global challenges and risks. The report affirmed the robustness of the UAE banking sector, supported by strong capital and liquidity buffers, alongside improved asset quality and continued growth. Financial stability risks in the country remained broadly contained and unchanged, due to robust economic fundamentals, prudent policies, and effective risk management. The report reviews domestic and global macroeconomic trends, financial market conditions, the performance of various sectors, and regulatory developments, with a focus on resilience aspects and emerging risks. It also underscores the CBUAE's commitment to fostering proactive risk monitoring, innovation, and transparency, supporting financial system resilience, and collaborating with local and international partners to enhance the UAE's position as a leading global financial hub. The strong performance of the financial system contributed to enhancing the nation's economic resilience. The UAE's real GDP grew by 4% in 2024, driven by growth momentum in the non-oil sector, a key driver for economic diversification. The overall GDP growth outlook is also expected to remain positive for the coming years, reaching 4.4% in 2025 and rising to 5.4% in 2026. In 2024, the UAE's financial system experienced robust and stable conditions. A significant step in enhancing coordination among key stakeholders was the operationalisation of the UAE Financial Stability Council, chaired by His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, Chairman of the Central Bank and Chairman of the Financial Stability Council. This move represented a crucial stride towards bolstering coordination among stakeholders, activating systemic risk oversight, facilitating the assessment of emerging risks, and streamlining timely policy responses to horizontal risks. 2024 also saw the CBUAE reinforce its regulatory and supervisory frameworks through the implementation of new macroprudential tools, strengthening cybersecurity requirements, advancing in sustainable finance, and expanding the scope of climate change risk assessment, in line with international best practices. The comprehensive stress tests conducted by the CBUAE in 2024 confirmed the ability of the UAE's banks to absorb macroeconomic shocks, continue providing credit facilities even under hypothetical adverse scenarios, and maintain high levels of capital and liquidity exceeding minimum requirements, highlighting the banking sector's resilience in addressing global risks. The UAE's non-bank financial institutions (NBFIs) sectors achieved significant positive results at various levels. The insurance sector remained resilient, with adequate solvency positions and substantial growth of 21.4%, bringing total gross written premiums to AED 64.8 billion, thereby reinforcing policyholders' rights. Overall, finance companies maintained adequate capitalisation with further improvements in liquidity levels, while money exchange businesses continued to demonstrate their resilience and operational stability. 2024 also witnessed an acceleration in digital transformation, reflected in increased adoption rates of FinTech and digital payments, the expansion of banking services, and the integration of artificial intelligence and data analytics. The CBUAE continued to develop the national payment and settlement infrastructure through the launch of the Domestic Card Scheme "Jaywan", the widespread adoption of the 'Aani' Instant Payment Platform, and the progress made in the central bank digital currency (CBDC) "Digital Dirham", all of which enhanced the financial system's efficiency and resilience. The report anticipates that the outlook for the UAE's financial system will remain positive, supported by robust economic fundamentals, prudent economic management, and the CBUAE's efforts to support financial system resilience, enhance proactive risk monitoring, innovation, and transparency. His Excellency Khaled Mohamed Balama, Governor of the CBUAE, said: "The UAE maintained strong economic and financial conditions in 2024, despite growing economic challenges and increasing global risks, supported by national economic growth and the banking system's robustness and resilience. At CBUAE, we are committed to steadily progressing towards achieving the vision of our wise leadership, the nation's development plans, and our strategic objectives by developing the financial system's regulatory and supervisory framework to ensure sustainable resilience, enhance financial and economic stability, and drive growth momentum and prosperity in the UAE." To view and download the 2024 Financial Stability Report, please click here
Reuters
22-07-2025
- Business
- Reuters
Bank of England's Bailey defends bank rules after Reeves attack
LONDON, July 22 (Reuters) - Bank of England Governor Andrew Bailey said on Tuesday he did not agree with finance minister Rachel Reeves' description of regulation as a "boot on the neck of businesses" and he defended rules for the banking sector which are overseen by the BoE. Bailey told lawmakers that the central bank was open to making changes to the detail of post-financial crisis financial regulation to help the government's economic growth push. But he favoured keeping rules on banks in areas such as ring-fencing - which separates consumer lending operations from more volatile investment banking - and said Britain was not imposing tougher regulation than elsewhere. "I do think that the ring-fencing regime is an important part of the structure of the banking system," he said, noting the rules made it easier to deal with troubled banks. Reeves last week promised "meaningful reform" of the ring-fencing rules, something sought by the leaders of several major lenders in Britain. Asked by a lawmaker about Reeves' describing regulation as a "boot on the neck" of businesses, Bailey said: "I don't use those terms. Let me say that ... it's not a term I use" before adding: "We can't compromise on basic financial stability. That would be my overall message." Bailey was speaking to the House of Commons' Treasury Committee alongside two other members of the BoE's Financial Policy Committee, Randall Kroszner and Carolyn Wilkins. Kroszner, a former U.S. Federal Reserve official, said he saw no specific clash at this stage between financial stability and the relaxation of regulations planned by Reeves. "But always the devil is in the detail," Kroszner said. Bailey also told the committee that a rise in British government borrowing costs - especially for long-dated bonds - was not out of line with increases in other countries. "We have seen steepening of yield curves going on now," Bailey told the Treasury Committee. "I think the important thing to say is that is a global phenomenon. It's not in any sense unique to this country. In fact, the pattern in this country is not in any sense out of line with what we've seen in other markets, and we've seen steeper increases in some other markets." Rising borrowing costs were being driven by concerns about the impact on global trade from tariff policy decisions and uncertainty about the scale of future public borrowing, he said. U.S. President Donald Trump has imposed tariffs on imports of many goods and has also won approval in Congress for tax cuts that are forecast to push up U.S. public debt.
UAE Moments
17-07-2025
- General
- UAE Moments
♏ Scorpio Daily Horoscope for July 17, 2025
Inner Strength & Boundaries Today, lead with quiet confidence. Kindness paired with assertiveness supports emotional balance and empowers mindful decisions. Love & Relationships Your honesty and active listening will deepen trust. Confidence and vulnerability work together to strengthen existing bonds. Career & Professional Goals This is a strong day to invest in your family's future, including initiating new projects. At work, your calm demeanor earns recognition from authority figures Finance & Stability Your financial position remains strong. Thoughtful investments—not impulsive ones—bring long-term security today. Health & Wellness Watch your intake and prioritize balance. Gentle self-care, rest, and steady routines keep both body and spirit in harmony. Taurus Wisdom ' You are worthy of a love that touches the soul... you do not need to settle for less than a deep connection,' reminds your love forecast. Hold faith in your value. Lucky Color & Numbers
