CBUAE launches new program to enhance skills of its supervisors

By Shilpa Annie Joseph, Desk Reporter
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CBUAE
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The Central Bank of the UAE (CBUAE) has launched the Advanced Executive Certificate for Risk-Based Supervision Professionals, the second level of its internal supervisory certification program.

The main objective of this unique program is to enhance the skills of CBUAE supervisors who examine licensed financial institutions in the UAE within a risk-based supervisory framework.

Furthermore, the new program is designed to enable supervisors to pursue either the Prudential stream or the Conduct Risk stream to build the relevant specialist skills. The program is aligned with the CBUAE’s vision to become one of the top central banks globally.

Khaled Mohamed Balama Image
Khaled Mohamed Balama
Governor – CBUAE

“The launch of this intensive program is part of the Central Bank’s efforts to achieve effective supervision on licensed financial institutions by its examiners and supervisors, which would contribute to the UAE’s financial stability. Through the Advanced Certificate program, we seek to empower our examiners with various risk-related skills to raise their level of efficiency in line with the Emiratization agenda of the UAE.”

The CBUAE has also developed additional customized workshops to enhance the caliber of its examiners, meet evolving market demands and assess pertinent risks to promote monetary and financial stability in the UAE.

The program was launched in cooperation with and accredited by the Institute of Bankers (IOB), a recognized college of the University College Dublin and a leading institute in training bankers and bank supervisors.

According to the statement, “Since its launch in 2021, 46 UAE national supervisors completed the Executive Certificate Level 1 and are now eligible to join the Advanced Executive Certificate.”

Furthermore, 12 UAE national examiners and supervisors are registered in the first cohort of this intensive program, which is designed to equip them with tools and insights in assessing prudential risks. “Further cohorts are planned to ensure that examiners and supervisors are equipped with robust knowledge and skills to effectively supervise licensed financial institutions,” as per the statement.

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