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November 14, 2018

Refinitiv partners with Union of Arab Banks to create strategic networking platform

Partnership helps develop cooperation among more than 360 financial institutions across MEA markets

DUBAI, UNITED ARAB EMIRATES – Refinitiv, formerly the Financial & Risk business division of Thomson Reuters, announced a partnership with Union of Arab Banks (UAB) to develop a strategic networking platform for UAB’s members, the financial and compliance community across Middle East and Africa (MEA).

The partnership develops cooperation on a strategic dimension that benefits more than 360 financial institutions in MENA. As part of the agreement, UAB will leverage Refinitiv’s network of financial crime industry experts and enhance the quality of UAB’s training workshops and seminars. Refinitiv will gain access to UAB’s vibrant network of financial institutions and will drive industry engagement programs for UAB members. The collaboration creates a unique networking platform for financial and non-financial associations, regulators, and supervisory agencies within MEA and across the globe.

The partnership will also include sharing valuable information such as research centres, facilitating interaction with government entities, and holding common forums to explore growth opportunities across the financial industry in the region.

“The collaboration comes in line with our vision to share best practice with the Arab financial and banking community. Both parties will exchange technical advice and training programs. This is crucial for the industry as we see significant advances in both private sector financial technology as well as technology supporting public sector regulatory compliance,” said Wissam Fattouh, Secretary General, Union of Arab Banks.

“Our partnership will help promote a sound and vibrant regulatory, governance, risk and compliance culture in the region. We continue to see increasing compliance activity as firms and regulators leverage automation and new technologies to combat financial crime,” said Nadim Najjar, Managing Director, Middle East and Africa, Refinitiv.

“Financial institutions are changing the way they manage data as they move to implement new workflows. Our collaboration with UAB will help inform the industry, facilitate the adoption of smarter applications, and promote ethical behaviour in the financial and baking practice,” concluded Mr. Najjar.

About Refinitiv

Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in approximately 190 countries. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community – driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime.

Contacts

Tarek Fleihan
Communications
Refinitiv
+97144536527
tarek.fleihan@refinitiv.com