News Desk
AJMAN: The Ajman Department of Finance, represented by Jassim Bu Osaiba, Director of the Department’s Internal Audit Office, participated in the 30th edition of the Annual Reserve Management Seminar, hosted by UBS Swiss Bank in Zurich, Switzerland.
The seminar is considered one of the leading global events discussing modern trends in global cash reserves management across various sectors. It covers distributing assets considering geographic, political, and economic aspects. More than 50 different entities from 46 countries participated in the seminar.
The department’s participation in the seminar aligns with its commitment to achieving its current strategy and complying with global best practices and trends in the financial field, especially in cash reserves management. This is crucial for enhancing financial sustainability, improving the ability to anticipate future changes, and adapting to challenges flexibly.
Jassim Bu Osaiba highlighted that this year’s seminar addressed global trends shaping the global economy, including globalisation decline, geopolitical fragmentation, digitisation, and sustainability. He emphasised that participating in the event was an important opportunity to learn about the latest methodologies in the field, meet all participants, and exchange experiences, which helps in keeping up with developments in the field and anticipating potential financial risks.
The Director of the Department’s Internal Audit Office further explained that amid the rapid transformations witnessed by the global economy, sound policies and practices in cash reserves management support economic and financial stability. They also help achieve a balance between liquidity and security on one hand, and appropriate returns on the other, while reducing exposure to external crises.
