ThimarIssue 2 | July 2015 | Arab Bank for Investment & Foreign Trade

You are our focus...

Issue 4 | July 2016 | Arab Bank for Investment & Foreign Trade

AL MASRAF TARGETS100 PER CENT EMIRATISATIONAT BANK BRANCHES

AL MASRAF’S HR DEPARTMENT ISO-CERTIFIED FOR QUALITY MANAGEMENT SYSTEM EXCELLENCE

ISO 9001:2015 stamp affirms exceptional ability to meet customer & employee needs

Since 1975

Comprehensive banking services for your needsWe o�er a wide range of banking products which include your personal and commercial business, this is in addition to the treasury and investment services.

Our vision is to become an innovative and preferred �nancial partner for all banking services in the region.

Currently we are operating through a network of branches across the UAE.

• Personal Banking

• Corporate Banking

• Islamic Banking

• Treasury and Investment

you are our focus...

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In the course of this year we will continue completing the three-year strategy that will be completed by the end of this financial year. We will work on developing our services according to state-of-the-art banking systems and we will keep on investing in human workforce being a main partner in achieving success through a series of Training Courses and Career Planning Programs.

As a result of your efforts and hard work, the bank's profits have risen to reach 12% in the first quarter of the year and a financial solvency of 24% which is higher than the requirements of the Central Bank and Basel Committee.

Our policy is built on focusing on the local market and it is cautious and selective. In financing, we focus on different sectors, especially the medium and large enterprises sector. This policy has led to a significant improvement in the quality of our financing portfolio which witnessed an increase of AED 10.2 billion in the month of June 2016 which is an increase of 10% compared to June last year. As you know, all the financial ratios achieved last year were very good and competitive.

On behalf of our management, I would like to thank you for your giant efforts over the past three years that has caused us to succeed, excel and accomplish many achievements.

Faisal GaladariChief Executive Officer

FROM THE DESK OF THE CEO

EDITORIAL TEAM

Bachar Dib

Ahmed Nagy

Rejoy KoitharaAL MASRAF’S EMIRATISATION RATIO STANDS AT 26%

AL MASRAF'S PROFIT INCREASE BY 11 PER CENTTO AED 405 MILLION IN 2015

Al Masraf Cards Promotions

AL MASRAF’S HR DEPARTMENT ISO-CERTIFIED FOR QUALITY MANAGEMENT SYSTEM EXCELLENCE

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ACHIEVEMENTS

The Arab Bank for Investment and Foreign Trade (Al Masraf ) recorded a net profit of AED 405 million in 2015—reflecting a growth of 11 per cent as compared to the AED 366 million profit it posted in 2014. The company’s operating profit also rose by 13 per cent to AED 437 million. The remarkable growth of the profits is a result of Al Masraf’s move to expand its loan portfolio by 28.2 per cent to reach AED 9,43 billion in 2015. The bank also achieved positive results in consolidating its client base and boosting its ability to attract and utilize deposits. In 2015, clients’ deposits increased by 9 per cent to reach AED 9,5 billion, while the assets jumped to AED 15 billion with a growth of 5 per cent.

The financial results demonstrate the strong performance achieved by Al Masraf in 2015 and its high-level capabilities that contributed in expanding its lending portfolio, mainly targeted towards the corporate sector. The bank has high financial solvency that meet and exceed the requirements of both the Central Bank of the UAE and Basel Committee on Banking Supervision. The Capital Adequacy Ratio (CAR) of Al Masraf is 24.5 per cent, which is a high rate that reflects its ability to expand credits efficiently and competitively in the UAE market that witness sharp competition among banks.

In line with this, Al Masraf’s board of directors recommended the approval of financial

statements and operational results of 2015 during its recent meeting, which was held on February 14, 2016.

Commenting on the financial results of 2015, Mohamed M Ben Yousef, Chairman, Al Masraf, said “We are happy with the strong financial performance of 2015. We succeeded to achieve positive results despite the strong competition within the local banking market and the regional and global

AL MASRAF'S PROFIT INCREASE BY 11 PER CENTTO AED 405 MILLION IN 2015

646525

578

5,3319,430

7,357 3,6523,203 3,442

15,05112,659 14,335

9,5856,232

8,732

201520142013

201520142013

201520142013

201520142013

201520142013

OPERATING INCOME

12%Increase over

previous year (2014)

405260

366

201520142013

NET PROFIT

11%Increase over

previous year(2014)

CUSTOMER DEPOSITS

10%Increase over

previous year(2014)

TOTAL EQUITY

6%Increase over

previous year(2014)

TOTAL ASSETS

5%Increase over

previous year(2014)

LOANS & ADVANCES

28%Increase over

previous year (2014)

AED MnAED MnAED Mn AED Mn AED Mn AED Mn

AL MASRAF ACHIEVED STRONG PERFORMANCE DESPITE GLOBAL MARKET’S FLUCTUATIONS AND OIL PRICE DROPBen Youssef

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markets’ fluctuations due to oil price decline, especially in the last few months of 2015. We were able to face the emerging challenges and enhance our financial results, taking advantage of the strong global position of the UAE, which has a diverse economic base, modern infrastructure and business-friendly environment.”

Faisal Galadari, Chief Executive Officer, Al Masraf confirmed the commitment of the Board of Directors to provide continuous support for all steps aimed at making qualitative changes in Al Masraf's performance, which contributed to the growth of all performance indicators in 2015, despite the difficult conditions experienced by the regional and global markets and the falling of oil prices. Galadari also expressed his happiness for the success Al Masraf in increasing the value of assets by 5 per cent to AED 15 billion, highlighting the achievements made in strengthening Al Masraf’s customer base and the improvement in its ability to attract deposits, which increased by 9 per cent to account to AED 9.5 billion.

Galadari added, “We are proud of the positive financial results achieved during year, which were primarily reflected in the increase of loans and facilities portfolio by more than 28 percent to AED 9.4 billion, the increase in our operating profits by 13 per cent and the growth of our net profits by 11 per cent.”

Galadari confirmed that the proportion of non-performing loans in Al Masraf fell from 9 per cent in 2014 to 6 per cent in 2015, while the coverage ratio of these debts increased to 122 per cent.

Galadari predicts that the bank will experience the same strong performance and pace of growth in 2016, pointing out that the raising of interest rates in the market would further enhance the competition between banks and push them to put on more attractive products in the market.

“In 2016, Al Masraf will introduce new products to attract more deposits and customers, and will continue moving forward in implementing the ambitious three-year strategy. Our focus will be on developing the banking business in accordance with modern banking systems in terms of the

use of banking technology, and on modernizing ATMs and introducing new credit and debit cards. Al Masraf has

invested about AED 30 million in the field of modern banking technology, and we will continue to invest and leverage on the technological capabilities,” said Galadari.

“Al Masraf is planning to open a new branch in Ras Al Khaimah and another branch in Sheikh Zayed Road in Dubai in the second half of this year—to come to a total number of 12 branches by the end of 2016. The bank is successfully operating an Islamic Window offering Sharia complaint products and services to our customers. We will continue developing our human resources through the launch of training and rehabilitation programs and attracting local talents to achieve our ambitious goal of increasing the Emiratization rate to more than 30 per cent by the end of 2016,” concluded Galadari.

646525

578

5,3319,430

7,357 3,6523,203 3,442

15,05112,659 14,335

9,5856,232

8,732

201520142013

201520142013

201520142013

201520142013

201520142013

OPERATING INCOME

12%Increase over

previous year (2014)

405260

366

201520142013

NET PROFIT

11%Increase over

previous year(2014)

CUSTOMER DEPOSITS

10%Increase over

previous year(2014)

TOTAL EQUITY

6%Increase over

previous year(2014)

TOTAL ASSETS

5%Increase over

previous year(2014)

LOANS & ADVANCES

28%Increase over

previous year (2014)

AED MnAED MnAED Mn AED Mn AED Mn AED Mn

AL MASRAF ACHIEVES POSITIVEPERFORMANCE DURING Q1 2016In spite of the hard circumstances through the last period, the Arab Bank for Investment and Foreign Trade (Al Masraf ) managed to accomplish a growth of 12% in net profits through Q1 of current year to reach AED 100 Million. Mr. Galadari said, “The banks faced the SME’s problem of financial stumble and fall and were obliged to increase the irregular-debt appropriations. The banks became more insightful and selective when financing that sector’s projects. The banks’ approach included financial compromises with the owners of the SME’s to support that vital sector of economy”. He also said that the problem of SME’s did not negatively impact Al Masraf, which continued its good performance to accomplish a 12% return on capital during this year.

Faisal H. GaladariChief Executive Officer (CEO)

WE ARE LOOKING FORWARD TO OPEN A BRANCH IN RAK IN THE SECOND HALF OF 2016, LAUNCH NEW PRODUCTS AND INVEST IN MODERN TECHNOLOGYGaladari

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The Arab Bank for Investment and Foreign Trade (Al Masraf ) has set a target of 100 per cent Emiratisation at its branches, a top official from the bank revealed during the Tawdheef career fair - the premier event for bringing Emiratis into the workforce. Currently Al Masraf’s branches are composed of 62 per cent UAE nationals. The 10th Edition of Tawdheef took place 1st to 3rd February at the Abu Dhabi National Exhibition Centre

Speaking about Al Masraf’s presence at this career fair, Faisal Galadari, CEO of Al Masraf, said that the participation was in line with the bank’s strategy of increasing Emiratisation at all managerial and executive levels, to fulfil the strategy endorsed by the UAE Cabinet.He pointed out that the banking sector in the UAE has a solid record of rewarding Emirati competencies, especially in the senior and middle-level positions. “Continuity in this direction will promote the role of nationals in leading this vital sector. It will serve the progress of the country towards greater

prosperity under its wise leadership,” he added.

Galadari said the success of the Emiratisation programme in the banking sector can be effectively replicated in other sectors. He said Al Masraf’s strategy is aligned with that of the UAE Vision 2021 – the national goal is to increase Emiratisation not just in the government sector but also in the private sector.

According to Suaad Al Shimmari, Head of Human Resources and Emiratisation at Al Masraf, Emiratisation in all levels has reached 26 per cent in the company, and is on track to hitting the 30 per cent mark by the end of 2016.

Galadari said that in addition to focusing on the new recruitments the bank is pro-actively sharpening their talents and working at increasing retention figures. This was done by introducing qualification and career

development programmes; putting in place policies and initiatives; and creating a work environment that appeals to the national cadre which resulted to enhanced bank’s performance in general.

Al Shimmari said that Al Masraf is keen to attract talented Emirati graduates and has been regularly taking part in Tawdheef. The bank has conducted walk-in interviews at the career fair, making it easier for Emiratis to apply and get recruited. Tawdheef, she said, was an ideal platform for employers to find Emirati talent and for job seekers to learn about vacancies and training opportunities.

Al Masraf’s steps to boost Emiratisation include providing development programmes for managerial and general career levels, educational support for Emiratis, specialised trainings, special programme for distinguished employees for career advancement as well as participation in career fairs and open days at key universities.

AL MASRAF TARGETS 100 PER CENT EMIRATISATIONAT BANK BRANCHES

EVENTS

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Al Masraf announced that it aims at reaching a 100% ratio of Emiratisation amongst employees in all branches by end of 2016. The current Emiratization ratio is 62%.

Al Masraf’s Chief Executive, Mr. Faisal Galadari, said “Our participation in Careers 2016 UAE is aligned with our strategy aiming at availing employment and training opportunities to young and efficient Emirati citizens”.

A Successful StrategyMr. Galadari added, “Developing Emirati job-seekers career skills and preparing future leaders to occupy positions in various banking sector shall stimulate and drive the banking sector forward. Emiratisation is the core of our strategy. We focus on recruiting efficient Emirati young graduates and developing appropriate training programs to raise and maintain the levels of performance and excellence”.

Mr. Galadari highlighted Al Masraf’s resolve to participate in all Career Exhibitions held in the country to materialize its Emiratization policy in light of its integrated vision, which supports the principles of UAE Vision 2021.

Mr. Galadari said that there was no doubt about the sincere efforts exerted by the

banking sector in the UAE to increase the ratio of Emiratisation amongst its employees. There are many major banks that established their own training academies to qualify the UAE citizens and improve their skills so as to help them achieve their ambitions to join ranks with the sector.

Labor demands and educationCommenting on the difficulties faced by the Emiratisation efforts in the UAE banking sector, Mr. Galadari said, “There is a big gap between the local market demands of labor and the educational system’s output of graduates. There is clear lack of proper training programs to aid the citizens to qualify for careers with the private sector. The weak financial incentives add to the dilemma together with the wide gap in wages for both public and private sectors; besides the difference in vacations, public holidays, number of working hours, and degree of job security”.

Mr. Galadari confirmed that Al Masraf is keen to participate in various career exhibitions held in the country in line with its policy aiming at encouraging Emiratization and the government’s efforts to raise the ratio of national cadres working in the private sector to materialize the Council of Ministers’

strategy of Emiratisation the insurance and banking sectors in the county.

He added that the ratio of Emiratisation reached 26% in general, and is planned to rise to 30% by end of 2016. The ratio of Emiratisation reached 62% amongst the branches’ employees, and the branches’ managers’ ratio reached 100% in all branches.Ms. Suaad Al Shimmari, Head of Human Resources and Emiratisation in Al Masraf, said that Al Masraf’s booth in Career2016 UAE had seen intense calls by young Emiratis seeking jobs. She added that they received a large number of applications for vacancies, which will be screened to pick up the best whose qualifications comply with Al Masraf’s requirements.

Al Shimmari added that Al Masraf works hard on developing the career skills and total efficiency of the bank’s human resources through the advanced career development and training programs organized by Al Masraf. Al Shimmari confirmed that such approaches are true reflection of the guidelines set up by UAE’s wise leadership, and our belief in enhancing the participation of national citizens, giving them the opportunity they deserve so as to occupy the various leadership and executive vacancies in the sector.

AL MASRAF’S EMIRATISATION RATIO STANDS AT 26%

The Arab Bank for Investment and Foreign Trade (Al Masraf) announced that it will be rolling out 30 vacancies for Emirati citizens who are new graduates and job-seekers. These vacancies will be for various departments and sections in Al Masraf. This announcement took place during Al Masraf’s participation in the 18th Edition of the Careers 2016 UAE - career fair organized by and hosted in Sharjah Expo Center, 10th to 12th February. This event was held under the auspices of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi – Ruler of Sharjah and member of the Supreme Council of UAE.

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We appreciate your Loyal & Distinguished servicewith Al Masraf

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Mr. Faisal Galadari, Chief Executive of Al Masraf, highlighted the contributions of the UAE Banks Federation Chairman, Mr. Abdul Aziz Al Ghurair to push forward the advancement of the banking sector in the country. Mr. Galadari highlighted the guiding and advisory role played by the UAE Banks Federation in promulgation of banking laws and regulations. Mr. Galadari stressed on Al Masraf’s steady steps to maintain and achieve growth.

More progressQ: The Arab International Banking Summit 2016 has seen the honoring of the chairman of UAE Banks Federation, Mr. Abdul Aziz Al Ghurair, with the award of “Arab-Banking Figure 2016”, what is your comment:

A: At the outset, I would like to extend great thanks to Mr. Abdul Aziz Al Ghurair for his support to the banking sector in the country since he occupied the chairmanship of the UAE Banks Federation. He ceaselessly issued recommendations and guide lines, besides his sincere efforts to consolidate the UAE inter-banks relations through an Advisory Board that cares for the interests of the banks and the national economy. I congratulate Mr. Al Ghurair for that award which he well deserves. I wish him more and continuous success and progress.

Consultations with the UAE Banks FederationQ: Do you have any proposal to the UAE Banks FederationTo improve the status quo of the banking sector in the UAE?A: As regards the improvement of UAE banks’ performance and their development, we repeatedly consult with the UAE Banks Federation on all subjects relating to banking laws and regulations. After the problems arising last year with the small and medium enterprises, we reached to issuing a law regulating the SME positions and status – a move which positively impacted the trade and commerce sector in the country.

Steady and organized stepsQ: What are your most prominent achievements during the former period?A: During the last four years, the Arab Bank for Investment and Foreign Trade (Al Masraf ) has been moving forward in steady and well organized steps to achieve growth gradually. During the first quarter of current year, we achieved a profitability rate of 12% based on our deliberate and practical plans.

OUR STEPS ARE STEADY AND WELL ORGANIZEDTO ACCOMPLISH GRADUAL GROWTH.FAISAL H. GALADARI | Chief Executive Officer (CEO)

IN-FOCUS

We appreciate your Loyal & Distinguished servicewith Al Masraf

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AL MASRAF PARTICIPATES IN 7TH ANNUAL CAR FREE DAY 2016Annual event aims to reinforce Dubai’s position as one of themost environmentally friendly cities in the world

The Arab Bank for Investment and Foreign Trade (Al Masraf ) participated in the 7th Annual Car Free Day which was held across Dubai. The yearly event has been organized under the patronage of H.H. Sheikh Hamdan Bin Mohamed Bin Rashid Al Maktoum Crown Prince of Dubai, in line with the national efforts to reinforce Dubai’s position as one of the most environmentally friendly cities in the world and the strategic goal to position itself as a highly preferred choice by customers and its partners in the move to further advance economic and social development.

The Car Free Day initiative was developed to help reduce the effects of climate change and global warming, by reducing the amount of fuel burned to power vehicles which are considered important sources of greenhouse gas emissions. The participation of Al Masraf is in line with the company’s Corporate Social Responsibility (CSR) initiatives which is an essential component of their corporate culture. Al Masraf will be showcasing their support for the event by sponsoring promotional materials that will be placed on their main offices in Deira. Their active role in the program is also a reflection of their move to support the national

drive to cultivate environmental awareness and promote innovation in sustainability.

Faisal H. Galadari, CEO of Al Masraf, said: “This is an important activity that offers great value to society. We, at Al Masraf, hold this initiative in high regard as it reflects our vision to safeguard the environment for the benefit of future generations. Our participation in this event is an essential component of our yearly CSR programs which we have developed to create a positive impact and help enhance the well-being of the community.”

The event is the first initiative of its kind and enjoys the full support of the government as well as notable private sector entities. For this year’s edition, the program will not only be confined to a particular day, it will be stretched out across multiple days in collaboration with various partners across Dubai. This was done in an effort to encourage the participation of more organizations to help facilitate the reduction of carbon emissions and traffic congestion.

The promise of the event was “Inspiring Stars: Cultivating UAE’s Future Healthcare Leaders”

“Probably the most remarkable characteristic of our Health.In.Spire committee is that we truly care about inspiring the new upcoming generation. We care about best practices, about our work, about learning, about sharing and about improving our skills. This very spirit is the driving force behind organizing this event” said Emirates Medical Authority (EMA), the organizers of the event.

By bringing together all the masterminds and inspirational individuals in the healthcare field under one roof to deliver empowering short talks to the audience, the organizers aim to align with UAE’s vision in becoming a country that delivers world-class healthcare.

“Inspiring Stars: Cultivating UAE’s Future Healthcare Leaders” was an event that brought together the most fascinating and intriguing thinkers, doers and achievers who were challenged to give the talk of their lives (in 15 minutes or less) to inspire the young healthcare professionals. It aimed to bring together all the masterminds and inspirational individuals in the healthcare field under one roof to deliver empowering short talks to the audience in order to align with UAE’s vision in becoming a country that delivers world class Healthcare by 2021. This event aimed to enlighten the younger generation who are stepping into

the field of healthcare by introducing them to inspirational individuals within the field they are planning to build a career in. These included students, interns and medical residents about the healthcare atmosphere and gave them a chance to meet, greet and socialize with their role models/idols.

The event was attended by close to 400 aspiring and existing Healthcare professionals. These included prominent healthcare figures, students, interns, medical residents and professionals from a broad array of specialties.The main speakers of the event were:

• Dr. Adel Al Shamry :Chief Executive ofthe Emirates World Humanitarian Mobile Hospital – Head of Emirates Mobile Cardiology Centre

• Dr. Mohamed Al Olama: ConsultantNeurosurgeon, President of the Emirates Society of Neurological Surgeons, Elected President of Gulf Society of Neurosurgeons, General Secretary of Emirates Medical Association

• Dr. Amer Al Sherif: Managing Director ofEducation Division in Dubai Healthcare City (DHCC)

• Dr.ButhainahAlShunnar:Medical:Director& Founder of Al Shunnar Plastic Surgery

• Dr.MunaTahlak : CEOof LatifaHospital –Dubai Health Authority

• Dr. Mohammed Al Shemsi: Senior YearMedical Student at UAE University

AL MASRAF SPONSORS HEALTH.IN.SPIRE 2016Health.in.spire (HIS) brought on stage some of UAE’s most accomplished pioneers in healthcare for an incomparable day of short talks and world-class performances showcasing their ideas, stories and innovations affecting positive change in the United Arab Emirates the event took place on Saturday 30th of January 2016 at Mohammed Bin Rashid Academic Medical Center at Dubai Healthcare City.

• Mrs. Amal Al Shamlan:M President,Emirates Physiotherapy Society – Partner of Mirdif Centre for Physiotherapy and Rehabilitationrs. Amal Al Shamlan

• Mrs. Aysha Al Mehri:President, EmiratesNursing Association (ENA)

• Dr.AyeshaAlmemari:ConsultantEmergencyMedicine and Critical Care at Mafraq Hospital, Abu Dhabi. President of Emirates Medical Association, Abu Dhabi Branch and co-founder of EMA Mini Medical School.

• Ms. Farah Al Qaissieh Founder of UAEStutters

• Dr. Ghada Hussain: PostgraduateResident in Pediatric Dentistry at Hamdan Bin Mohammed College of Dental Medicine

• Mr. Abdulla Yateem: Director - YateemGroup

CORPORATE SOCIAL RESPONSIBILITY

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Arab Financial Services (AFS), a leading payment processing company in the region has recently partnered with Al Masraf, a leading Bank in the UAE, to enable Al-Masraf to have access to a state-of-the-art payment processing platform. This partnership provides Al Masraf the credit and debit card processing capabilities along with the latest suite of value added services including rewards, online loyalty redemption, card analytics, instant card issuance, and mobile based installment plans.

On the occasion, Mr. Faisal Galadari, CEO of Al Masraf, UAE said, “Our vision is to become an innovative and preferred financial partner for all the banking services. We want to provide the best customer services and experience and we are pleased to partner with AFS who is a leading player in the region. The migration has been

The Arab Bank for Investment and Foreign Trade (‘Al Masraf’), one of the UAE's premier banking institutions, has announced that its Human Resources (HR) Department has been certified to ISO 9001:2015 by ABS Quality Evaluations-USA. The recognition affirms the department’s exceptional ability to consistently develop and manage Human Capital to achieve the bank’s Vision, Mission and Objectives.

ISO 9001:2015 is the latest edition of the International Organization for Standardization (ISO)’s flagship Quality Management Systems (QMS) standard based on Risk and Opportunity. It considers the leadership’s active involvement in successfully implementing QMS and is one of ISO’s most sought-after certifications worldwide.

Mr. Faisal Galadari, CEO of Arab Bank for Investment and Foreign Trade, said: “This latest achievement is in line with Al Masraf’s Strategic Excellence Program 2016 – 2020 which places Quality at the forefront of everything we set ourselves to achieve. We have laid the foundation by achieving ISO 9001:2015 certification in our journey towards excellence.”

AL MASRAF PARTNERSWITH AFS TO LAUNCH CREDIT CARD AND DEBIT CARD SERVICES

AL MASRAF’S HR DEPARTMENT ISO-CERTIFIED FOR QUALITY MANAGEMENT SYSTEM EXCELLENCE

ISO 9001:2015 stamp affirms exceptional ability to meet customer & employee needs

AWARDS & PARTNERSHIPS

Suaad Mohamed Al Shimmari, Head of HR Operations & Nationalization, Arab Bank for Investment and Foreign Trade, added: “ISO 9001:2015 certification affirms the sharp focus and efficiency of our HR team in maintaining quality levels of human resource management. We would like to commend the group for facilitating a smooth and successful evaluation. Our people are the foundation of our success; we thank the HR group for ensuring that staff are highly motivated, guided and incentivized to meet the needs of our employees and our customers.”

Human Resources at Arab Bank for Investment & Foreign Trade has developed and deployed and continually maintains a management system that conforms to the requirements of ISO 9001: 2015. The exceptional commitment to “Quality Service Delivery” demonstrated by the HR team under the guidance of Al Masraf’s executive leadership sets the bank apart from others, making it one of the few in its field in the

UAE to achieved ISO 9001: 2015 status.

“We are confident that Al Masraf will continue to improve as it responds effectively to challenges and leverages opportunities to satisfy customers,” added R.S. Mani, Regional General Manager, ABS Quality Evaluations Inc., who presented the ISO 9001: 2015 certificate to Mr. Galadari.

The Arab Bank for Investment and Foreign Trade is intensifying efforts to improve its HR management further and upgrade related activities to global best practices. The bank recently received a Certificate of Appreciation from the organizers of TAWDHEEF 2016, the latest edition of the UAE’s leading recruitment exhibition for Emiratis, as gratitude for generously supporting the event.

completed successfully and we will be introducing new value added services soon.”

Chairman of AFS, Mr. Sael Alwaary said, “AFS is committed to increasing its presence in the UAE and we are proud of the partnership with Al Masraf. We are confident this partnership will reach greater heights in the future.”

Mr. B Chandrasekhar, CEO of AFS added “While AFS has already many customers in UAE for credit card processing services, Al Masraf is our first client in UAE to have the full suite of debit and credit card processing services and the first client using our UAE debit processing platform. We thank the CEO and the Management of Al Masraf for the support provided during the migration.”

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Aizaz has recently completed his final exams of Chartered Banker MBA in Banking and Finance from Bangor University - UK. During his course of study he was elected as the “Student Representative” for ASIA and Middle East for the University. His role was to coordinate with the students in these regions and guide them with their studies and act a focal point between the students and the University. He helped students resolve their queries and overcome any difficulties they face during the MBA program.

We wish him good luck and success for his final results”.

ABOUT THE CHARTERED BANKER INSTITUTEThe Chartered Banker Institute is the only professional banking institute in the UK. They are an educational charity, established by Royal Charter. The only body in the world able to confer the status of Chartered Banker to suitably qualified individuals. Throughout 140 year existence they have driven an agenda of ethical professionalism.

When the Institute was founded in 1875 it set out principles which they stand by today. Their stated purpose and main objective, as set out in the Royal Charter is to encourage the highest standards of professionalism and conduct amongst their members in the public interest.

The Institute has led the way in establishing the CB: PSB (Chartered Banker: Professional Standard Board) an initiative supported by eight UK banks to help embed a culture of ethical professionalism in banks.

“AIZAZ ZAIDI RECEIVING THE CERTIFICATE FROM GILES CUTHBERT, MANAGING DIRECTOR OF THE CHARTERED BANKER INSTITUTE – UK.

Corollary to our 40th year celebration, Al Masraf has embarked on a Strategic Excellence Program 2020 to become an innovative and preferred financial partner for all banking services in the region.

As a part of Strategic Excellence Program 2020, following excellence initiatives have been launched

• Qualification of all nine branches to Dubai Service Excellence Scheme (DSES)

• ISO 9001:2015 Certification for Human Resources• Sheikh Khalifa Excellence Award – 2016 • GIEOM – Digitization of Standard Operating Procedures (SOP)• Automation of Charges (Straight Through Processing)

Sheikh Khalifa Excellence Award (SKEA) – 2016 As a part of ongoing Excellence initiatives we have launched adoption of global best practices from Sheikh Khalifa Excellence Award based on European Foundation of Quality Management (EFQM) Excellence Model. We have formally registered our application for SKEA 2016 cycle and we are progressing well on submission document compiling our past achievements of last six years on enablers and results criterion.

ISO 9001:2015 Certification for Human ResourcesBuilding on our Quality Management System established in 2008 and certified to ISO 9001:2008 standards bank has now launched a Quality Management System complied to ISO 9001:2015 standard. This new standard is opportunity and risk based standards and has only been released recently in September 2015. With certification of HR department in Jan 2016 we have become one of the very few banks in UAE to be certified to new standard.

Dubai Service Excellence Scheme (DSES).To measure and improve the service standards at all nine branches, bank has adopted DSES standards customized to banking industry which covers Branch Appearance, Comfort, Health & Safety, Policy & Criteria, Employees, Service Delivery (Tellers) and ATM. All the branch personnel and support functions have worked very hard to raise our service standards and based on mystery shopping conducted by DSES Shoppers. Al Masraf brand (all 9 branches) has been qualified to Dubai

Service Excellence Scheme (DSES) since December 2015. We are proud to join the elite club of few banks to achieve this qualification within UAE. Quarterly mystery shopping is being conducted and we are able to maintain our average DSES score over 85% as against minimum qualification requirement of 75%.

GIEOM – Digitization of Standard Operating Procedures (SOP)In line with our drive for Operational Excellence and to enhance the knowledge of our employees we have embarked on yet another exciting journey to implement GIEOM which offers digitization of Standard Operating Procedures (SOP) by interconnecting and assembling all operational processes. The unique Intelligent Linking Technology shall help in maximizing our bank’s operational and functional efficiency through which the gap between bank’s existing knowledgebase and our employee knowledgebase shall be bridged significantly thereby enhancing our employee productivity.

Automation of Charges (Straight Through Processing) QPR took a lead and looked into the possibility of automation of charges as Straight Through Process (STP). A cross functional Quality Action Team (QAT) was formed consisting of our colleagues from Audit, Finance, ITD, PMO, OPS, CAD & QPR.

QAT collated all the information about current scenario and analyzed the situation. Based on the findings of analysis, gaps identified and necessary system changes were made to start collecting the charges automatically. QAT followed a simple PAR (Problem, Analysis, Resolution) approach to handle the entire process and at end of QAT we have been successful in automation of the charges.

“JOURNEY TOWARDS EXCELLENCE”Quality & Process Re-engineering Dept.

IN-FOCUS

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TRANSACTION BANKING

Transaction Banking

Facilitates Corporate/Business clients to interactwith Al Masraf for all their reporting andtransaction initiation requirements.

Business Online Banking

IN-FOCUS

By: Abdul GafoorHead of Transaction Banking

‘Transaction Banking’ is relatively a modern banking function, and this term is mostly used in a broader perspective. In some banks it primarily facilitates Cash Management Services for large corporates or medium sized business clients to ease their transaction and reconciliation process such as payments, collections and liquidity management services. This function normally is a sub unit of Corporate Banking, and depending on the bank’s organization structure Trade, Treasury and Financial Institutions functions, as a whole or as a small part may also function under Transaction Banking or Corporate Banking.

Banks specialized in Transaction Banking services, are primarily focusing on strengthening the liability side of its balance sheet. In this regard, banks facilitate infrastructure and solutions to clients for increasing their current account balances with the bank and to generate revenue from transactions.

Banks strengthened this areas, have a clear strategic vision on investing in infrastructure and on people specialized in this domain. Corporate and business clients are constantly looking for ways of optimizing and reengineering their collections, payments and reconciliations in order to reduce their financial expenses and risks, however specialized advising services from their financial partner is crucial here to reap the expected benefits.

Corporates having large amount of collections and payments require a robust mechanism to handle reconciliation and

payment initiations, cost effectively and efficiently. Therefore, Cash management specialized banks are fine-tuning solutions to ease this process in a cost effective, faster and secure way. Integrating corporate’s ERP or accounting application directly with bank’s e-Channel, would automate the reconciliation and payment process and help reduce the manual interventions, risks and errors. It’s interesting to note that, such banks provide infrastructure and automated solutions at customers’ premises for depositing bulk cash or cheques directly to their corporate account without leaving their office.

Cash Management function from a Corporate Perspective.The primary objective of a Cash Management function from a corporate standpoint is to have a proper control on company’s cash (or near money) resources as efficiently and quickly as possible. In order to achieve this, the company should look at the following areas as per their priority.

• Optimization of cash collections anddisbursements

• Reduction of expenses of moving funds among affiliates, using appropriateliquidity management solutions likesweeping and pooling functions.

• Establishing appropriate internal forecasting and reporting systemscapabilities

Optimum conservation and utilization of funds, is another area to improvise on, like • Minimizing the level of cash balances

required

• Making fund available when and whereit’s needed

• Accumulating the risk-adjusted returnon those funds that can be invested

• Exploring outsourcing options ofbanking functions with their financialpartners

• Ensuring relentless working capitalmanagement and win-win supply chain solutions.

Establishing a centralized yet proactive treasury management structure, would also help improve operational efficiency and financial gain, like• Centralizing Forex management to

utilize transaction value and volume based fx rates from their financial partners.

• Establishing sweeping and poolingfacilities to optimize liquidity management and financial gain.

• Streamlining Treasury Operations, tominimize the exchange loss

• Rationalizing banking arrangements• Reducing Financial/ Operating Expenses• Leveraging from use of Technology

systems to further streamline andreengineer business processes

• Establishing ERP Integrations and autoreconciliation mechanisms

In short, a corporate can efficiently manage their entire gamut of payments, collections and reconciliations process, thus reduce their financial expenses and optimize their liquidity, should they make use their Transaction Banking partner solutions effectively.

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What is a 'White Collar?'A white collar worker is known for earning high average salaries and not performing manual labor at their jobs. White collar workers historically have been the "shirt and tie" set, defined by office jobs and not "getting their hands dirty" (or their white collar dress shirts).

What is a 'White-Collar Crime?

White-collar crime is a nonviolent crime committed for financial gain. Securities fraud, embezzlement, corporate fraud and money laundering are examples of white-collar crime,.

Types of White Collar Crime:• Bank Fraud:To engage in an act

or pattern of activity where the purpose is to defraud a bank of funds.

• Blackmail: A demand for moneyor other consideration under threat to do bodily harm, to injure property, to accuse of a crime, or to expose secrets.

• Bribery: When money, goods,services, information or anything else of value is offered with intent to influence the actions, opinions, or decisions of the taker. You may be charged with bribery whether you offer the bribe or accept it.

• Computer fraud: Where computerhackers steal information sources contained on computers such as: bank information, credit cards, and proprietary information.

• Counterfeiting:Occurswhensomeonecopies or imitates an item without having been authorized to do so and passes the copy off for the genuine or original item. Counterfeiting is most often associated with money however can also be associated with designer clothing, handbags and watches.

• Embezz1ement:When a person whohas been entrusted with money or property appropriates it for his or her own use and benefit.

• Forgery: When a person passes afalse or worthless instrument such as

a check or counterfeit security with the intent to defraud or injure the recipient.

• Kickback:Occurswhenapersonwhosells an item pays back a portion of the purchase price to the buyer.

• MoneyLaundering:Theinvestmentortransfer of money from racketeering, drug transactions or other embezzlement schemes so that it appears that its original source either cannot be traced or is legitimate.

FraudFraud is misrepresenting facts through words and actions for financial gain. The deceit is intentional and meant to cause the victim to take action upon the facts. The action usually results in a financial injury.

Snapshot of white collar crime It has shown that 5% of an organization’s revenue is lost to fraud each year, translating to a staggering $3.7 trillion worldwide.

And over half of businesses never recover any losses. With the increasingly sophisticated methods employed by criminals to commit and conceal fraud, it is therefore more important than ever

that organizations remain one step ahead and are able to spot potentially fraudulent activity early in the threat timeline.

PricewaterhouseCoopers’s latest report Corruption: From the boardroom to the backroom surveyed more than 5000 people in 95 countries, more than half of whom were senior executives. A snapshot of the findings show:

• Morethan50percentoforganizationsexperienced white collar crime in the

last two years.• One third of organizations lostmore than $1 million.• Perpetratorsarelikelytobemaleand university educated.• 65 per cent work in middlemanagement staff members between 31-40 years old

White Collar/ Fraud Detection:Research has consistently established tips (whistle blowing) as a major source for detecting fraud, and the presence of hotlines can have a substantial impact on reporting. Telephone hotlines are the most common (39.5% of tips received), more than half of complaints were submitted via the Internet (i.e., email and Web based or online forms combined).

White Collar Crime/Fraud Prevention Awareness and Procedural Design is an idea all businesses should incorporate.

Awareness• Make flyers or bulletins using stories

about white collar criminals• Writearticlesforanewsletter.• Stafftraininginethicalbehavior.”Procedural Design• Researchbeforehiringordealingwith• Prevent 'blind' trust with other

businesses.• FullcommitmentwithCodeofEthics.• Terminate corrupt employees -

Prosecute when necessary.

By: Mohammad AshourHead of Audit

IN FOCUS

WHITE COLLAR CRIMES & FRAUD

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RAMADAN IN PHOTOS

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رمضانيات المصرف

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Staff Suhoor Gathering@ Regal Ballroom, St.Regis

Saadiyat Island Resort 16th June 2016.

STAFF SUHOOR GATHERING 2016

حفل سحورموظفي المصرف

قاعة ريجال، منتجع سانت ريجيس جزيرة السعديات

أبوظبي16 يونيو 2016

حفل سحور موظفي المصرف 2016

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STAFF SUHOOR GATHERING 2016

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حفل سحور موظفي المصرف 2016