Banks need to use diverse range of tools

The UAE banks need to use a more diverse range of risk management tools and practices to ensure their competitiveness across the world as Basel II comes into force, said a study conducted by the British University in Dubai (BUiD).

The study, carried out by BUiD student Shaima Al Hussiny, looked at risk management and its importance to the fundamental operations of banks in the UAE.

The study comes ahead of the global implementation of the Basel II agreement set to be launched later this year.

It said UAE banks are facing a relatively narrow range of risks, which indicate they are not using diverse range of risk management practices.

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