HOSTS THIRD RISK OFFICERS COMMITTEE MEETING

MUSCAT: The nation’s fastest growing bank – Ahlibank hosted the third meeting of the Risk Officers Committee (ROC) for 2015 at InterContinental Muscat.

The meeting was attended by representatives from the Central Bank of Oman and chief risk officers of banks in Oman.

The meeting started with a discussion and review of the previously held meeting’s minutes and action points.

This was followed by insightful presentations from KPMG about the ‘Development of the SME sector in Oman and managing related challenges at banks’ followed by ‘IFRS 15 – Changes in Revenue Recognition’.

The banking sector in Oman formed the ROC in 2011; wherein chief risk officers of local and foreign banks operating in the country meet every quarter with a view to facilitate an exchange of knowledge and to debate upon the latest developments in the ever-evolving field of risk management.

The committee discusses topical issues relating to risk management supported by insightful presentations delivered by industry experts to advise on current trends and best practices in risk management.