Qatar International Islamic Bank Q P S C : QIIB launches Board training programme on combating financial crimes

HE Sheikh Abdullah bin Thani bin Abdullah Al Thani: We attach great importance to adhering to corporate governance standards and regulatory and supervisory requirements

Dr. Al-Shaibei: "The training programmes for the Board of Directors enhance the interaction between them and the executive management."

In the presence of His Excellency Sheikh Abdullah bin Thani bin Abdullah al-Thani, Chairman of the Board of Directors, Qatar International Islamic Bank (QIIB) organised a training programme for its Board Members.

This is in accordance with the Board's annual training plan, for the purpose of meeting the requirements of the Corporate Governance Regulations issued by Qatar Central Bank (QCB) and the Regulations on Corporate Governance of Public Companies listed on the primary market of Qatar Stock Exchange.

QIIB Chief Executive Officer Dr. Abdulbasit Ahmed al-Shaibei attended the training programme.

The training programme included a review of AML/CFT laws and instructions, highlighting key roles and responsibilities of the Board Members in combating financial crimes.

It also presented the bank's major internal policies, the procedures and mechanisms put in place for combating financial crimes, as well as the bank's response in this regard.

Moreover, the programme discussed the biggest challenges and risks facing the banking sector pertaining to financial crimes.

The programme organised in two sessions, also included a presentation on the bank's financial crime risk assessment process and the internal controls put in place to mitigate these risks.

It further covered the customer risk assessment process and the bank's processes for customer identification, enhanced due diligence, and the recognition of certain suspicious activity indicators. The programme also delved into some practical case studies related to financial crimes.

The training programme witnessed interactive discussions. It provided some guidance and suggestions and raised many questions, which could enhance compliance with corporate governance standards and contribute to safeguarding the bank's products and services from being exploited to engage in any unlawful activities.

Commenting on the implementation of QIIB Board training programme, HE Sheikh Abdullah bin Thani bin Abdullah al-Thani, Chairman of the Board of Directors, said, "At QIIB, we attach great importance to adhering to corporate governance standards and all regulatory and supervisory requirements, as it contributes to strengthening the bank's position and protecting it against all potential risks."

He said, "There is no doubt that the Board of Directors bears significant responsibility for being the highest governing body of the bank tasked with formulating the necessary principles and strategies required for ensuring compliance with all supervisory and regulatory requirements and standards at various levels within the bank.

"Therefore, organising specialised training programmes in these areas holds great importance and provides an excellent opportunity to deepen the discussion and present proposals and suggestions that will enhance the work environment and improve performance."

He also emphasised on "the importance of the points and topics covered in the training programme organised by the bank for its Board Members, as well as the crucial discussion held therein, particularly in light of evolving technologies and methods used in attempts to abuse and compromise banking systems for fraudulent purposes or for money laundering and terrorist financing."

His Excellency, Chairman of the Board, concluded by expressing his thanks and appreciation to the expert lecturers who led the training programme for their efforts and the rich content they provided.

He also extended his thanks to the Board Members for their valuable contributions and active participation in the programme.

Dr al-Shaibei commented on the training programme, saying, "The training programmes for the Board of Directors deepen the interaction between them and the executive management.

"In fact, during this year, a training plan tailored for the members of the Board of Directors has been approved, in line with the instructions and requirements of the Qatar Central Bank and governance standards. Part of the programme has been implemented, and it is planned to complete the remaining portion soon.

"He added, "In the Executive Management, we rely on the high dynamism exhibited by the members of the Board of Directors through their interactions and suggestions during the training programs.

"This serves as a practical guide that is translated into plans and strategies we implement, enhancing the work environment and reinforcing commitment to the established standards within the Bank, in accordance with the directives of regulatory and supervisory authorities."