Author Archives: Vianta

Banks in UAE should stop wasting time in bureaucratic processes and get funds out…

Banks will very shortly be confronted with an existential conundrum, with the conflicting, indeed antagonistic forces of survival and social responsibility pulling them apart. With global recession, business closures and redundancies imminent, banks will suffer huge defaults and credit losses over the coming months. Meanwhile, in the short term, they will be expected to provide […]

The UAE is faced with a singular and systemic threat. The current crisis is completely dissimilar to that of 2008, which was one afflicting the financial system, with knock-on effects on economies. The corona crisis will be felt on the entire economy, as with every single country, with serious knock-on effects on the financial system. […]

I dislike being a prophet of doom, but I dare say the business community’s financial troubles are even close to being over, something I have been saying since early 2014. In fact, current circumstances don’t warrant any analytical skills to surmise that this is all set to continue for a couple of years at least. […]

Most banks’ federations or associations worldwide have, as principal objectives, a code of conduct for banks (largely involving ethics, disclosure, customer education & protection, transparency, prompt, fair dispute resolution etc.). Most also cast a protective eye on customers, engaging with the community in creating awareness with regard to rights & responsibilities, education on improvement of […]

Enterprises go bust, unscrupulous management or large shareholders perpetrate frauds and managements embezzle, all the time. All this goes on around the world, even in jurisdictions where a high level of disclosure required, corporate governance mandated, whistleblower policies exist, corporate taxes (therefore filings) levied, credit bureaux are pervasive and so on and so forth. Disclosure […]

International Financial Reporting Standards (IFRS) are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB) to create a global framework for the preparation of financial statements of corporate entities. IFRS 9 has drastically altered how entities treat their assets, liabilities and profit & loss items. Banks and therefore borrowers will […]