UAE Cbank to monitor outsourcing at banks

Cbank sought banks' views on whether to involve itself in their outsourcing activities.
UAE Cbank to monitor outsourcing at banks
OUTSOURCING ACTIVITIES: The UAEs central bank has said that it may monitor the outsourcing activities of banks and plans to meet CEOs regularly. (Getty Images)
By Stanley Carvalho
Tue 25 May 2010 01:38 AM

The UAE central bank may monitor the outsourcing activities of banks and plans to meet CEOs of banks regularly, bankers said on Monday. A meeting of chief executives of banks with the central bank's governor and senior officials took place on Monday.

The central bank sought the views of banks whether it could involve itself in monitoring the outsourcing activities of banks, the CEO of a bank who attended the meeting told Reuters.

Speaking to Reuters on the condition of anonymity, the banker said: "All banks agreed that it would be good for the central bank to get involved in our outsourcing."

Most banks in the UAE outsource services such as marketing, sales, IT and call centre operations.

Another banker, who also spoke to Reuters, said: "The involvement of the central bank, via regular guidelines or advice, would help banks," adding that no discussions took place about Dubai World, debt restructuring or provisions.

The meetings with chief executives will take place every quarter, the banker said. (Reuters)

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