The collaboration aims to enhance efficiency and transparency, evaluate and accredit court banking experts.
The UAE Banks Federation (UBF) has partnered with Central Bank of UAE (CBUAE) and Ministry of Justice (MoJ) to further develop and enhance the profession of banking experts in the country.
In a statement, the UBF announced that it has developed an advanced online exam exclusive for candidates who seek certification as court banking experts.
In cooperation with the American University of Sharjah (AUS), CBUAE, and MoJ, the UBF designed a new multiple-choice online examination which will replace the present paper-based tests system with an online format, in accordance with best international standards.
AbdulAziz Al Ghurair, Chairman of UBF, 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 initiative comes in line with UBF objective of keeping up with the latest global developments and effectively streamline the court banking experts' profession within the country’s judicial authorities.
“In line with the adoption of digital transformation, the new electronic exam will increase effectiveness and efficiency of the crucial evaluation and will further enhance transparency in the selection of subject matter experts,” added Al Ghurair.