The UAE Banks Federation (UBF) has developed a new advanced online exam in order to enhance the proficiency of banking professionals in the country.
The new exam, developed with the support of Ministry of Justice (MoJ) and the Central Bank of UAE (CBUAE), will assess the candidates applied for court banking expert certification.
Designed in cooperation with the Center for Executive and Professional Education (CEPE) at the American University of Sharjah (AUS), the new multiple-choice online examination will replace the present paper-based tests system with an online format.
Any candidate, who aims to be accredited as a court-banking expert, must qualify in the written exam conducted by the Committee of Examination of Banking Experts, a joint entity of the MoJ, CBUAE, and UBF.
The initiative to introduce the new online exam forms a part of the UBF’s strategy to encourage digital transformation and adopt latest international practices to streamline banking experts’ profession.
UAE Banks Federation chairman Abdul-Aziz Al-Ghurair said: “In its endeavour to create and sustain an open and advanced banking and financial services ecosystem, UBF gives great importance to reform and raise the standards of the banking industry and related sectors.
“The move comes to upgrade UBF’s initiative of 2012, when UBF legal and compliance committee developed regulations to appoint the experts, and which were adopted by the MoJ and CBUAE requesting to form an examination committee by then; relevant memoranda of understanding (MoUs) were then signed by the MoJ, Dubai Courts, and RAK courts.”