The Emirates Institute for Banking and Financial Studies, EIBFS, a regional leader in banking and finance education and training, hosted a high-level interactive workshop on International Financial Reporting Standard, IFRS 9.

More than 60 senior bankers and finance officers, including experts from PricewaterhouseCoopers, KPMG, Emirates NBD and National Bank of Fujairah, discussed strategies being deployed by banks in the UAE to address challenges associated with the implementation of IFRS.

The day-long workshop touched upon a variety of issues including the differences between International Accounting Standard 39 and IFRS 9, potential business impact, overcoming the challenges of IFRS 9, role of regulators, and the efficacy of IFRS 9 as a safeguard to help avoid the repetition of the global financial crisis.