BrazilKPMG delivers training to compliance officers of Bahraini banks
Experts from KPMG have delivered a training program to compliance officers of Islamic banks in Bahrain.
The training saw a group of senior compliance officers receive rigorous training across topics including risk & compliance, governance, due diligence, issues management and investigations, technology and tooling, and people and culture.
The 10-day training was part of the Waqf Fund curriculum. Established in 2006, the fund helps banking groups in the country with development initiatives and activities in Islamic finance training, education and research. A number of 25+ courses are delivered by consultancies, with KPMG the lead partner for compliance matters.
“We are focused on developing the human capital in the Kingdom of Bahrain for our member institutions. The Waqf Fund’s programs are a true testament to enhancing our leadership skills in the Islamic Finance sector” stated Khalid Hamad Al-Hamad, Chairman of the Waqf Fund and Executive Director Banking Supervision at the Central Bank of Bahrain.
“The courses delivered through the Waqf Fund are targeted to help upskill and develop our future generation of leaders in the Kingdom of Bahrain; and to grow and diversify the banking industry in a sustainable and secure manner.”
Jeyapriya Partiban, Partner and Head of Advisory at KPMG in Bahrain, said that the so-called ‘Compliance Head Grooming program’ was delivered through a mix of experiential learning, case studies and practical industry experience. “We delivered the program via interactive sessions and invited guest speakers from the industry to ensure that the industry leaders have access to best standards and practices.”
Among the top names that contributed to the learning experience were: Sunando Roy (Central Bank of Bahrain), Eduardo Rangel, (Abu Dhabi Islamic Bank), Waheed Rathore (Dubai Islamic Bank), and Lamees Al Baharna (former Chief Risk Officer at Oman Arab Bank).
The training comes at a time of major change – and a growing remit – for compliance officers. “The number of new regulations and laws that have been issued along with the amendment of prevalent laws has been quite significant,” said Partiban.
“It is critical for compliance experts to keep themselves updated to the constantly evolving landscape driven by risks and opportunities – we are delighted to have been able to play our part.”
Earlier this year, KPMG was named one of the Middle East’s top risk & compliance consulting firms for 2022.
Other programs part of the Waqf Fund’s curriculum span topic such as Shari’ah auditing, Islamic finance, liquidity management, apital markets, leasing, management, AAOIFI and IFSB Standards, and trust law.
