BAFT MENA Council to focus on de-risking and compliance

BAFT, the international transaction banking association formed by the merger of the Bankers Association for Finance and Trade, has launched a Middle East and North Africa (MENA) Council.

De-risking and compliance will be key focuses for the council as it aims to address the needs and priorities of banks in the region and implement best practices in MENA bank operations.

Common issues

The BAFT MENA Council, which had its inaugural meeting recently in Dubai, aims to be a vehicle for collaboration across banks and non-bank stakeholders in transaction banking in the region.

Similar to other BAFT regional councils, the group will discuss common issues, and collaborate on solutions to shared challenges and provide policy advocacy on behalf of the industry.

Objectives and priorities

As well as a particular focus on de-risking and compliance, the council’s objectives and priorities include regulatory awareness and harmonisation.

The council’s members represent a range of countries from the MENA region and will be led by co-chairs Maurice Iskandar, head of the international division at Banque Libano-Francaise and Faisal Lalani, executive vice president and head of international and institutional banking at Emirates NBD.

BAFT engages on a wide range of topics affecting transaction banking, including trade finance, payments, and compliance.

The association’s website is www.baft.org.



Categories: Trade Based Financial crimes News

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