concerned with combating financial crimes in the uae, gcc countries, sister arab countries and all countries in the region. the number of conferences, seminars and workshops held to - date exceeds ( 350 ). and the uae shall continue to support training and development of skills, with the cooperation of friendly countries. 5 due to the huge achievements reached by the uae in establishing the legal, organizational and supervisory frameworks as well as the aml / cft regulations and procedures, it has received commendation from international and regional organizations for such achievements. uae has also contributed to training staff of the concerned authorities responsible for encountering money laundering and combating financing of terrorism in some regional countries, in addition to participating with ( fatf ) in the mutual evaluation of some countries. your highnesses, ladies & gentlemen, in conclusion, i would like to express my thanks and gratitude to h. h. sheikh saoud bin saqer al qasimi, crown prince and deputy ruler of ras al khaimah ( may allah protect him ) for his kind presence and patronage of this conference. thanks extend to his brothers, their highnesses sheikhs, for their sincere efforts, wishing ras al khaimah more progress and prosperity. i would also like to thank our guests, representatives of usa, uk, france, italy and spain and to my brothers, namlc members and to all audience. wishing you success in this conference.

. the bcbs assessment framework suggests that local regulators are entrusted with the task to set up their own methodology for the process of identifying which banks to be considered as d - sibs. nonetheless, some general guidelines on the subject from bcbs would be helpful, and they will make the exercise more consistent region - wide. 2. central banks in our region could develop a peer - group approach for this exercise so they could learn from each other. 3. it seems that the d - sibs proposal is restricted to banks. would non - bank financial institutions ( nbsfis ) be considered? would the assessment of systemic importance cover subsidiaries ( and not branches ) of banking groups. 4. the assessment framework also suggest there will be a mix of qualitative and quantitative judgments for each d - sib. with the general guidelines from bcbs, it would be the responsibility of the local authority to assign the appropriate weights to the qualitative vs. the quantitative judgments. 5. while waiting for the final version of bcbs document, central banks in our region could start working on the identification exercise of d - sibs, taking into account local considerations, learning from countries of similar financial systems, and benefiting from peer - reviews. iii. higher loss absorbency ( hla ) 1. as in the g - sibs framework, d - sibs will be required to hold additional common equity tier 1 capital ( cet1 ) to meet their hla requirements, which eventually support capital conservation of the basel iii capital framework. it is a positive development that national regulators are given the authority to decide on the appropriate level of additional cet1, consistent with each bank ’ s systemic importance. however bis central bankers ’ speeches there is some concern that the proposed hla would just duplicate the already in place country - specific prudential measures implemented in the region, which would mean that the d - sib ’ s cost of doing business will go up. for example, in the uae we impose the following capital ratios : – tier 1 core capital : a minimum of 8 % ( actual is : 14. 5 % ) – tier 1 and other tiers : a minimum of 12 % ( actual is : 20. 5 % ) 2. however, it is suggested that local regulators should allow identified d - sibs a comprehensive grace period to fully comply with the hla requirements. 3. as local debt markets are at an infancy stage in many countries in the region, this would