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Post Financial Crisis: Lessons Learned Mobilizing Corporate Governance, Financial Inclusion & Consumer Protection

 
September 08,2016 - September 09,2016
Beirut - Lebanon

Post Financial Crisis: Lessons Learned Mobilizing Corporate Governance, Financial Inclusion & Consumer Protection

 

Best Practices for conducting operations and transactions with banks and financial Consumers: Consumer rights Protection (Central Bank Circulars).

 

It’s almost a decade post the financial crisis, and becomes mandatory to wonder if Banks and financial institutions are being managed in a manner that safe guards to global economy. To answer this complex question three aspect need to be addressed: Corporate Governance, Financial Inclusion & Consumer Protection.

 

Corporate Governance

The complexity of corporate governance requirements continues to grow and so does the role of governance professionals. While regulatory authorities focus on social responsibility including issues of diversity and extending transparency rules, in turn, investors aggressively seek to redefine the relationship between board of directors and shareholders; raising a difficult dilemma regarding the board’s independence. With other players in the field, there are also other factors extending their influence in shaping global corporate governance.

In this effect, criminal liability of corporations and senior executives is becoming a very serious issue throughout the world. Whereby in making decisions about penalties, law enforcement agencies around the world are now evaluating to what degree corporations have put in place effective measures to remediate, detect and prevent, illegal activity.

 

Financial Inclusion

Financial Inclusion is a main & significant issue in the overall strategy of sustainable development due to its impact on improving the opportunities of growth and maintaining financial and social stability. The G20 has adopted financial inclusion as one of the main topics in its economic and financial development agenda, whereas the World Bank has identified an ambitious target to facilitate access of financial services for all by 2020 due to their effective role in poverty alleviation and fighting unemployment.

Furthermore, the massive and rapid development of the information and communication technology has contributed in the emergence of many innovative financial services and models of business such as mobile banking services and financial services without bank branches.

Poverty alleviation in the Arab countries forms a significant challenge for governments and policy makers, especially at this stage where the adoption of more comprehensive approaches is required. These approaches involve, in addition to governments as planners and legislators, more concerned sectors such as financial institutions and development organizations.

 

Consumer Protection:

The global financial crisis highlighted the need for more effective financial consumer protection measures as consumers face more sophisticated and complex financial markets. The availability of information has grown both in quantity and complexity and the pace of change, in terms of new product developments, product innovations, and technological advances, has increased dramatically.

Today policy makers are more aware of the importance of strengthening and prioritizing consumer protection and financial literacy frameworks, in an effort to protect the population from unscrupulous providers of financial services, but also to “protect consumers from themselves”.

 

This forum will highlight the role of Corporate Governance, Financial Inclusion and Consumer Protection in enhancing economic and social stability and sustainable development. It will discuss the strategies, policies and role of banks, as well as, private sector institutions. In addition, it will address the importance of technological innovation and its role in the dissemination of financial services.

 

 

Topics of Discussion Day 1:

 

In depth analysis behind the global financial crisis:

Financial Reform in the Post-Crisis Environment: The Way Forward (Myth vs. Reality)

 

Corporate Governance

 

·         Discussing the Evolving Role of the Corporate Secretary

·         How to Get Cyber ready: corporate governance and board oversight of cyber security risks

·         Best Practices: managing the application of US corporate governance rules to non-US corporations

·         Corporate governance issues for foreign subsidiaries

Financial Inclusion

 

·         Importance of financial inclusion in promoting social and financial stability.

·         Strategies and policies for financial inclusion - opportunities and challenges.

·         Financial Inclusion in supporting small, medium and micro enterprises.

Consumer Protection:

·         Cyber security: how to limit breaches and exposure

·         Recent trends: controlling shareholders, interested financial advisors and exposure

·         Consumer protection best practices: Country experience.

·         International, Regional and local endeavors for financial consumer protection.

 

Topics of Discussion Day 2:

 

Consumer Protection Regulations:

 

·         Consumer Protection around the world

·         Financial Consumer Protection: the Lebanese Experience (Central bank of Lebanon Circular number 134)

·         Committee for Banking Supervisor Circular Number 281

 

Implementing Consumer Protection:

 

·         The Role of the Head Consumer Protection Unit

·         Accessing documents, repots and information: sorting the relevant

·         Preparing the Key Facts statement

·         Preparing the bank/customer rights and obligations

·         Regulatory and supervisory requirements

Best Practices:

 

·         how to offer an adequate financial product or service

·         The most important characteristics of banking and financial services and products Model

·         Corrective actions taken in case of violation of the bank or financial institution’s provisions of the circular

·         The Best Practices for conducting operations and transactions with Consumers


Usefull Links
Union Of Arab Banks
Data and Information Center
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