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"We are still taking lessons and lessons from the global financial crisis

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"We are still taking lessons and lessons from the global financial crisis

Post  claud39 on Fri 7 Dec - 19:31

http://www.uabonline.org/en/news/arabicnews/15911585157616101607160116101573160115781578157515/58333/0


"We are still taking lessons and lessons from the global financial crisis




07/12/2018













President of the Association of Banks in Lebanon, President of the International Union of Arab Bankers Joseph Tarbi, said that "despite the passage of about ten years of the explosion of the global financial crisis, the regulatory bodies and banks around the world take lessons and lessons from them." 

Tarbih and the Deputy Governor of the Banque du Liban Harutyoun Samouilian opened the first banking forum for credit managers in Arab banks and financial institutions organized by the International Union of Arab Bankers at the Coral Beach Hotel for two days in the presence and participation of delegations from Gulf and Arab countries, And credit in Lebanese banks.

"The launch of the forum, which will become an annual tradition, is responsible for following up the technical and technical developments aimed at improving and developing the human resources in our Arab banks, which are considered the main bridge on which the Arab banking profession is based, especially with regard to the issue of credit management," he said. , Which is currently in the interest of many banks and financial institutions and international organizations ». 

He pointed out that "despite the passage of about ten years of the explosion of the global financial crisis, the regulatory bodies and banks around the world take lessons and lessons from them, and the Basel Committee on Banking Supervision continues to develop its proposals for sound banking and wise management of banking risks.

"As you know, the global financial crisis has led to a thorough and thorough review of the international banking regulations, regulations and rules that prevailed prior to 2007. Supervisory bodies, without exception, conducted comprehensive studies and analyzes to identify weaknesses in their financial and banking systems and adopt the reforms required to strengthen the steadfastness These systems and make them less affected by crises ». 

"Many banks did not have sufficient capital to support the status of the risks they took," he said. "There was a significant weakness in the liquidity management of many banks," he said. 

"Ten years after the financial crisis has passed, we can confirm that the global and Arab banking sector has become more accurate and more robust," Samuilian said.

He pointed out that "the international standards of financial reporting 9 IFRS have taken into account recently the process of credit work in banks," praising the Lebanese banks, "which began to implement these standards successfully despite all the challenges. "In order to comply with the requirements of the International Financial Reporting Standards (IFRS), the Banque du Liban has taken steps, issuing on November 7, 2017 Circular No. 143 on the implementation of IFRS. On January 15, 2018, Circular No. 484 related to Article 19 of Circular 143. At the micro-level and credit risk reduction, the Bank of Lebanon began to organize the Micro Credit Institutions in 2015 and on February 3, 2016, Compliance unit. 

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