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DTSTART;TZID=UTC:20210617T060000
DTEND;TZID=UTC:20210618T110000
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SUMMARY:Seventh Annual Arab – Cypriot ForumInvestigating the Global Decline in Correspondent Banking Relationships & Complying with AMLD6 and AMLA 2020
DESCRIPTION: \n\n\n\n\n\n\n\n\n\nBackground:\nFlows of dirty money can damage the stability and reputation of the financial sector and threaten the local markets\, and terrorism shakes the very foundations of every society. The soundness\, integrity and stability of banks and financial institutions and confidence in the financial system as a whole could be seriously jeopardized\, add to that the De-risking pattern adopted by Correspondent banks\, therefore putting countries and their banking and financial systems in an extremely delicate situation. \nOver the last decade\, global banks have been tightening operations to comply with regulations designed to curtail money-laundering and terrorism-financing. As a consequence\, global banks have been limiting correspondent banking relationships (CBRs) with local banks in emerging and developing economies – a practice referred to as “de-risking.”  \nCertain global banks have terminated relationships – or “de-risked” – certain local banks\, but they have also established new relationships with other banks in the same countries. The idea that country risk is the primary consideration doesn’t hold. Local (respondent) banks have been able to adjust by dealing with fewer correspondent banks or by establishing new relationships\, which in some instances are with second or third-tier banks\, which raises concerns about integrity that warrant authorities’ attention. \nMoreover\, new and updated AML/CFT regulations were released by both the United States of America and the European Union; On January 1\, 2021\, the US Congress passed the Anti-Money Laundering Act of 2020 (AMLA) as part of the National Defense Authorization Act for Fiscal Year 2021. Likewise\, as of December 3rd\, 2020\, the European Union’s Sixth Anti-Money Laundering Directive (AMLD6) is in effect for all member states. Regulated entities operating in the union will need to be compliant by June 3\, 2021. Like its predecessor\, this new directive is aimed to strengthen anti-money laundering (AML) rules in the union and place larger responsibility on regulated entities to fight money laundering. Specifically\, the directive aims to expand the scope of existing legislation\, clarify certain regulatory details and toughen criminal penalties. \nIn this regards\, the World Union of Arab Banks through The Seventh Annual Arab-Cypriot Forum\, is always keen to join efforts with international bodies and entities to safeguard the Arab – Cypriot Banks and financial institutions from potential threats and challenges and introduce the state of art means of combating these threats while abiding and complying with the regulatory framework and international best practices. The Arab – Cypriot Forum has been accurately structured to showcase and highlight the future prospects and opportunities by providing ample time and natural situations for networking it provides an open platform for Arab and Cypriot compliance professionals to meet\, discuss and share the knowledge and experience through conversations\, interactive panel discussions\, and presentations at a world-renowned gathering of industry professionals and thought leaders on topics. \nTopics of Discussion:\nInvestigating the Global Decline in Correspondent Banking Relationships\n\nWithdrawal of correspondent banking relationships linked to de-risking: highlighting the increasing regulation\, operational cost and market competition impact banking and international trade.\n\nActions that countries and the industry can pursue to limit de-risking\n\nGather data on CBR closures\, industries and activities affected by de-risking\nEncourage at-risk respondent banks to include de-risking in contingency planning as part of the prudential requirements and supervisory practices\nImprove communication between correspondent and respondent banks\, as a lack of awareness of country context can contribute to de-risking\nImprove regulatory oversight of MTOs’ obligations toward AML/CFT\nConsider technology as a solution to de-risking\, since FinTech could lower the cost of compliance\, reduce cash transactions and improve transaction monitoring.\n\nSixth Anti-Money Laundering Directive (AMLD6) – Proactive Planning and Implementation\n\n6AMLD implementation experiences from European financial services businesses\nLessons Learned from the five previous Anti-Money Laundering Directive (AMLD)\n\nThe US Anti-Money Laundering Act (AMLA) of 2020\n\nModernization and Reforms of AML/CFT Laws and Regulations\nMajor Changes to the AML/CFT Landscape\nEnhanced AML Whistleblower Program\nIncreased Penalties for AML Violations\n\nWho can attend?\n\nBank CEOs and managing Directors\nCompliance Managers\nAML operations and compliance team\nCustomer due diligence\nTransaction monitoring and system tuning\nAML audits\n\nForum Techniques:\nThe forum employs a mix of theoretical fundamental explanations and case studies\, with special focus on exchanging knowledge and experiences. \n\n\n\n\n\n\nDownlaod Brochure\n\n\n\nDownload Agenda\n\n\n\nDownload Registration Form\n\n\n\n\n\nDownload Presentations\n\n\n\n\n[rtec-registration-form event=4310] \n\n\n\n  \n\n\n                    \n                        \n                        \n                            \n                \n                    \n\n        \n        Location: Seven Gates Hotel    \n\n        \n                    \n                    \n\n        \n        Date: June 24-25\, 2026    \n\n        \n                    \n                    \n\n        \n        Time: 9:00 AM till 3:00 PM    \n\n        \n                    \n                \n                        \n        \n                        \n                        \n                        \n                    \n\n        \n        \n\n\nمقدمة\n\n\nتشهد البيئة المالية والمصرفية الإقليمية والدولية تحولات متسارعة تفرض على المؤسسات المالية تعزيز جاهزيتها المؤسسية وتطوير أطر إدارة المخاطر والامتثال بما يتوافق مع أفضل الممارسات والمعايير الدولية. وفي ظل المتغيرات المتلاحقة التي يشهدها النظام المالي العالمي، تزداد أهمية بناء منظومات فعالة لإدارة مخاطر غسل الأموال وتمويل الإرهاب والعقوبات الدولية، بما يضمن سلامة الأعمال المصرفية واستدامتها وقدرتها على التفاعل بكفاءة مع المتطلبات الرقابية الدولية \nوفي الوقت ذاته، تشهد الأسواق المالية العالمية والإقليمية تطورات متواصلة تفتح آفاقاً جديدة أمام المؤسسات المالية القادرة على تعزيز مستويات الامتثال والحوكمة وإدارة المخاطر لديها. فكلما ازدادت قدرة المؤسسة على مواءمة أعمالها مع المعايير الدولية، ازدادت قدرتها على الاستفادة من فرص التعاون المالي، وتطوير العلاقات مع المؤسسات المالية الدولية، وتوسيع نطاق الخدمات والأنشطة المصرفية العابرة للحدود \nومع تنامي أهمية العلاقات مع البنوك المراسلة والمؤسسات المالية الدولية، أصبحت فعالية برامج الامتثال وإدارة المخاطر عنصراً أساسياً في بناء الثقة وتعزيز المصداقية المؤسسية ودعم القدرة على الاندماج بصورة أكثر فاعلية في البيئة المالية الإقليمية والدولية. كما باتت المؤسسات المالية مطالبة بإثبات قدرتها على فهم مخاطرها الفعلية وإدارتها وفق منهجيات واضحة وقابلة للقياس والتطوير المستمر \nوفي هذا السياق، تمثل العقوبات الدولية أحد أبرز المحاور التي تتطلب فهماً دقيقاً وإدارة متخصصة، ليس فقط من منظور الالتزام بالمتطلبات التنظيمية، وإنما أيضاً من منظور الاستعداد للتعامل مع المتغيرات المستقبلية والاستفادة من الفرص التي قد تنشأ نتيجة تطور البيئة المالية والتجارية الدولية \nوانطلاقاً من هذه المعطيات، يأتي هذا البرنامج المتخصص لتزويد المشاركين بالأدوات العملية والمنهجيات الحديثة المتعلقة بالمنهج القائم على المخاطر (RBA)، وتقييم المخاطر المؤسسي الشامل (EWRA)، وإدارة مخاطر العقوبات الدولية، بما يسهم في تعزيز جاهزية المؤسسات المالية، وترسيخ قدرتها على إدارة المخاطر بكفاءة، والاستعداد للتعامل مع المتطلبات والفرص التي قد تفرضها المرحلة المقبلة     \n\n        \n                        \n        \n                        \n                        \n                        \n                    \n\n        \n                        \n                                                Download Brochure
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