Posted on May 30, 2015

Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, introduced a Bank-wide e-Learning program to increase awareness about operational risks. All bank employees were required to study and pass the exam at the end of the course. To complement the e-learning initiative, classroom training courses on branches operational risk management have been organized for all branches employees. In addition, operational risk training is an integral part of the induction training program that each new QIB employee is going through his / her first weeks in the Bank.

The training programs go hand-in-hand with QIB’s strategy to train its employees and to support and promote their capabilities and develop a sound risk-management culture. This should enable QIB to stay abreast of all requirements and directives issued by regulatory authorities, and to keep up with constantly evolving international banking legislations, an increasing number of banking products and higher customers’ expectations.

QIB’s Chief Risk Officer Mr. Rakesh Sanghvi indicated that branch employees are the first line of defense in QIB against operational risk. Operational risk management is at the heart of the Bank’s strategy given its contribution – when implemented with proper care and professionalism – to improving employees’ performance, reassuring customers and shareholders, and helping QIB meets its objectives and mitigates inherent risks. The aforementioned strategy was the focal point of the training courses – a combination of theoretical explanation and practical application addressing all activities related to daily branch operations and ties with other QIB departments.

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QIB’s Head of Human Capital Group, Mr. Khalefa Al Mesalam said: “QIB invests in its human resources by implementing training programs which are fundamental to enrich employees’ skills and capabilities, and offer them the necessary knowledge to meet the banking sector requirements. The operational risk program is one of series of training programs that was carried out to enhance employees’ efficiency, achieve top performance levels and limit operational risks.”

Addressing the topic of operational risks is becoming increasingly important amid the fast – paced development and growth of Islamic Banking Services and their reliance on technology. Within this context, QIB has outlined a strategy for all the employees to be able to recognize operational risks so as to mitigate them and protect the Bank and its customers.