Today's Edition
ABU DHABI (ALETIHAD)
The Central Bank of the UAE (CBUAE) and Mastercard have concluded a capacity-building programme aimed at strengthening national capabilities in fraud-risk management and improving the financial sector’s preparedness for evolving risks in the digital payments ecosystem.
The four-day programme, delivered by Mastercard Academy at the CBUAE’s headquarters in Abu Dhabi, was attended by 25 employees from various sectors of the central bank, according to a joint statement issued on Monday.
The programme included technical sessions and practical case studies covering the payments ecosystem, digital payments, emerging commerce models and new fraud risks. It also addressed international best practices in detecting and mitigating fraud across payment-issuing and acceptance environments.
The initiative forms part of the continuing collaboration between the CBUAE and Mastercard to strengthen institutional capabilities and support the security and resilience of the UAE financial system, the statement said.
“Developing national capabilities is a strategic priority for maintaining the resilience of the UAE’s financial system,” said Fatma Abdulla Al Jabri, Assistant Governor for Financial Crime, Market Conduct and Consumer Protection at the CBUAE.
She said the programme supported the development of institutional expertise needed to keep pace with evolving fraud risks by strengthening the competencies of CBUAE teams in line with international standards and best practices.
“We value our continued collaboration with Mastercard in supporting capacity-building initiatives and reinforcing trust in the UAE’s rapidly evolving digital payments ecosystem,” Al Jabri added.
Gina Petersen-Skyrme, Senior Vice President and Country Manager for the UAE and Oman at Mastercard, said the company’s collaboration with the CBUAE to develop fraud-risk management expertise formed an important part of its role in supporting the UAE’s digital transformation.
“Through Mastercard Academy, we are proud to contribute to developing national capabilities and strengthening the resilience of the systems that individuals and businesses rely on every day,” she added.
