Further to its initiative in 2012 to regulate the appointment of court banking experts in the UAE, the UAE Banks Federation (UBF) continued its collaboration with the Ministry of Justice (MoJ) and the Central Bank of UAE (CBUAE) to further develop and enhance the profession of banking experts in the country. With the aim of enhancing efficiency and transparency, and evaluating and accrediting the court banking experts, the UBF has developed an advanced online exam exclusive for candidates who seek certification as court banking experts.

The new multiple-choice online examination, designed and developed in cooperation with the Center for Executive and Professional Education (CEPE) at the American University of Sharjah (AUS), and support of MoJ and CBUAE, will replace the present paper-based tests system with an online format, in accordance with best international practices and standards.

The initiative comes in line with UBF objective of keeping up with the latest global developments to promote digital transformation and adopt best international practices in all domains and effectively streamline the court banking experts' profession within the country’s judicial authorities.

As a prerequisite, a candidate who wishes to be accredited as a court-banking expert in the UAE should sit for a written exam before the Committee of Examination of Banking Experts, a joint entity of the MoJ, CBUAE, and UBF. The committee is entrusted to interview, examine, and accredit candidates for enrollment in the court banking experts registered in the MoJ and other local courts.

“In its endeavor to create and sustain an open and advanced banking and financial services ecosystem, UBF gives great importance to reform and raise the standards of the banking industry and related sectors. The move comes to upgrade UBF’s initiative of 2012, when UBF legal and compliance committee developed regulations to appoint the experts, and which were adopted by the MoJ and CBUAE requesting to form an examination committee by then; relevant memoranda of understanding (MoUs) were then signed by the MoJ, Dubai Courts, and RAK courts.” said HE AbdulAziz Al Ghurair, Chairman of the UAE Banks Federation.

“In line with the adoption of Digital transformation, the new electronic exam will increase effectiveness and efficiency of the crucial evaluation and will further enhance transparency in the selection of subject matter experts. The replacement of the existing paper-based exam with the online system will not only help in saving costs and time, but will also ensure confidentiality and security. We are confident that this move will accelerate the federal and local governments’ efforts of digital smart transformation in line with best global standards,” added HE Al Ghurair.

About UAE Banks Federation:

Established in 1982, the UAE Banks Federation is a professional representative body comprising 50-member banks operating in the UAE. The Federation advocates all banks' interests, and enhances cooperation and coordination among them, in order to promote and upgrade the UAE's banking industry for the benefit of the banking sector, its customers, and the national economy.

The UAE Banks Federation's mission and objectives are focused on representing its member banks and defending their interests and rights. The federation provide a platform for cooperation and exchange of ideas and opinions among member banks and plays a major role in raising public awareness around the beneficial role and distinctive financial, economic and social contribution of the banks to the UAE.

The Federation has an Advisory Council consisting of 28 Bank CEOs which oversees the implementation of the policies, follows up on UBF's activities and makes necessary decisions, and 20 specialized technical committees who discuss all relevant banking issues.

Media contact:  
UAE Banks Federation                                                         
Emad Al Ghadban                                                  
Head - Public Relations & Communications                                                 
Phone: +971 2446 7706                                                     
E-mail: emad@uaebf.ae

© Press Release 2018

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