Doha: QIIB hosted the Annual Chief Risk Officers Forum for banks operating in the Middle East, organised in collaboration with the Institute of International Finance (IIF). This initiative reflects QIIB's commitment to promoting Islamic banking and its role in advancing the financial industry, while also reinforcing Qatar's position as a key regional and global banking hub.
According to Qatar News Agency, the event was opened by Dr. Abdulbasit Ahmed Al Shaibei, CEO of Qatar International Islamic Bank, who welcomed the distinguished participants. He emphasized the significance of hosting the forum, highlighting its importance against the backdrop of global financial transformations. Dr. Al Shaibei pointed out that the regulatory agenda in the banking sector is evolving, especially with the global implementation of Basel III reforms, which are reshaping capital and risk frameworks in the industry.
Dr. Al Shaibei also underscored the transformative role of technology in banking, noting the increasing use of advanced technologies like artificial intelligence in operations such as credit assessment and fraud detection. He stressed the opportunities these innovations present, while also acknowledging the need for thoughtful regulatory responses to manage the associated risks.
The forum covered a variety of risk management topics, including regulatory developments in Qatar, global trends related to Basel III amendments, and the focus on climate risk regulation and sustainable finance. Participants also explored geopolitical risks and their impact on the banking sector.
Key insights from the latest International IIF Annual Risk Management Survey were reviewed, providing analysis from banks across the region. The forum discussed emerging risk trends and how banks in the MENA region are adapting to them.
Artificial intelligence applications in financial services were a major focus, with discussions on leveraging AI in credit assessment, fraud detection, and regulatory compliance. Participants shared best practices for successfully integrating AI into risk management frameworks.
Strategies for managing risk concentrations through diversification and mitigation were also explored. The forum addressed advancements in digital banking and fintech innovation, examining associated risks and strategies for mitigation.
Attendees discussed operational resilience and business continuity, including third-party and supplier risk management. The forum also examined how large banking groups manage risks across international subsidiaries.
Lastly, the forum covered liquidity risk, with participants sharing international and regional experiences and outlining best practices for effective risk management and mitigation.