EVENT: ABA Hosts Meeting of CEOs of Arab Banks in London
Date: 27th April, 2015 Time: 12:30 pm - 02:30 pm
The meeting was convened by George Kanaan, the CEO of the Arab Bankers Association, at the suggestion of ABA members who have become concerned at the increased burden of regulation on senior management time and, in some cases, concerns over the proportionality and consistency of some regulatory initiatives.
The 13 CEOs, who represent both branches and subsidiaries of Arab banks, agreed that there would be benefits to sharing their expertise, with the aim of helping each other respond efficiently and effectively to regulatory requests. It was agreed to hold further, quarterly meetings, but with a more formal agenda, so that meetings could focus on issues of relevance to the greatest number of banks. George Kanaan also agreed to seek meetings with officials from the Prudential Regulation Authority, the Prudential Conduct Authority and the U.K. Trade & Investment, during which Arab branches and subsidiaries would be able to raise concerns directly.
The CEOs of Arab banks in London agreed that they could play a positive role in helping regulators understand the region better.
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