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UAB to launch Arab center for crisis management soon

The Union of Arab Banks (UAB) will launch soon an Arab center for crisis management to develop crisis management industry in the Arab world in line with international criteria, the chairman of the UAB Executive Committee said.
 
Addressing the 8th Annual Risk Management Forum in Beirut late Thursday, Joseph Torbey said the center will also spread awareness in the financial and banking sectors as well as companies in the Arab world on the importance of adopting up-to-date international technologies and methods for crisis management.
 
The center will work on in-depth scientific studies and researches in the fields of crisis management and organize training sessions for those working in the banking and financial sectors on crisis management.
 
Meanwhile, AUB Board Chairman Sheikh Mohammed Jarrah Al-Sabah expounded that the banking industry witnessed over the past two decades enormous developments and changes due to accelerating technological progress in addition to introducing new financial products offered by banks, thus posing grave challenge to the banking industry.
 
He urged all parties concerned to rally efforts to magnify the benefits of these technological developments and downsize the risks.

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