In December 2015, Bank of Sharjah engaged the services of Financial Integrity Network – Washington DC.
As one of the premier financial institutions in the UAE, Bank of Sharjah has consistently maintained the highest standards of financial integrity and compliance, while staying in step with changing times. In order to further raise the bar, the Bank entered into a partnership with global expert Financial Integrity Network (FIN), for advisory services.
Financial Integrity Network (FIN) is a premier strategic advisory firm dedicated to helping its clients strengthen the financial integrity needed to succeed in today’s global security environment.
By offering a comprehensive and strategic approach to countering a wide spectrum of evolving financial crime risk, FIN assists clients in developing, strengthening, and ultimately maximising the effectiveness of their financial crime compliance capabilities. FIN’s deep experience in the global and US policy, enforcement, and regulatory fields allows it to architect novel strategies, structures, and solutions for emerging risks and financial integrity challenges.
“With an impressive track-record and a gamut of clients across the world, from governments to global banks and regional financial institutions, FIN’s support and expertise will undoubtedly help us expand and strengthen our counter-illicit financing policies. We are confident that the collaboration with FIN will provide us with solutions to a wide variety of illicit financing concerns, including evolving regional risks and urgent case resolution,” affirmed Mr. Varouj Nerguizian, General Manager, Bank of Sharjah.
The agreement with FIN was signed on August 17th 2015 in Washington, DC and renewed on May 22nd. 2019. To quote the Honorable Juan Zarate, Chairman, Financial Integrity Network “We understand the challenges of operating in today’s global financial security environment. With deep insights and experience in the counter-illicit financing field and on-the-ground experience, FIN is proud to work closely with Bank of Sharjah to inform and guide their financial crimes compliance and help meet the highest global standards.”
The partnership with FIN is part of Bank of Sharjah’s continuous efforts to grow and evolve in keeping with global standards -- a strategy that has gained the Bank a position of pre-eminence in the UAE financial sector with an emphasis on quality and customer service.
In the first phase of the collaboration with FIN, Bank of Sharjah reviewed and revamped its Financial Crime Compliance (FCC) policy framework placing it ahead of recent UAE regulations and in line with global standards. FIN’s engagement with Bank of Sharjah also includes within its ambit the Bank’s wholly owned subsidiary, Emirates Lebanon Bank, Beirut.
FIN’s global experience has informed Bank of Sharjah’s FCC policies and procedures, as well as their application, so as to align them even more with contemporary risk management requirements. Bank of Sharjah’s ongoing strategic advisory engagement with FIN assists the Bank in effectively countering the current and evolving financial crime risks.