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News entry by TAG Digital Training

During his participation in the World Union of Arab Bankers (WUAB) Conference

During his participation in the World Union of Arab Bankers (WUAB) Conference

Dr. Abu-Ghazaleh Calls for Employing
Modern Technology in Enhancing Compliance in Banking Sector

AMMAN – HE Dr. Talal Abu-Ghazaleh,
chairman of the International Arab Society for Certified Accountants (IASCA)
has participated in the Conference of the World Union of Arab Bankers (WUAB),
held in Amman along with a host of Arab professional bankers.

The Conference tackled several topics
including best money laundering prevention practices, terrorism financing,
digital transformation and cross-border compliance challenges.

In a speech delivered at the Conference’s
opening ceremony, Dr. Abu-Ghazaleh expressed his pride in publishing the first
Arab ‘Anti-Money Laundering and Terrorism Financing Guide’ by IASCA in
cooperation with Talal Abu-Ghazaleh Global.

The handbook, according to Dr.
Abu-Ghazaleh, aims to provide the Arab accountants and auditors with the
required guidelines to offer services that are subject to Anti-Money Laundering
and Terrorism Financing regulations and legislation.

He further affirmed the importance of
keeping pace with the knowledge revolution that affected all sectors, including
the banking sector, while benefiting from the revolution in the pro-active
programming (Pro-Pro) currently, Artificial Intelligence (AI) field, using
these technologies in improving banking sector compliance.

Dr. Abu-Ghazaleh also called on the Arb
banks to be ready to the upcoming global changes, mainly in the field of
shifting to the use of global central bank digital currencies, noting that they
will be acknowledged in the financial and business transactions at the world
level particularly with the trend of China to adopt its digital yuan, a central
bank digital currency (CBDC), in its transactions and dealings with other

It's worth mentioning that the participants in
the Conference discussed various issues including challenges that face the Arab
banks in the terms of compliance and compliance risk management.

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