UNB receives three ISO recognitions from LRQA

The ISO recognition was presented to the UNB Chief Executive Officer Mohammad Nasr Abdeen by Lloyds Register Quality Assurance Limited (LRQA) business manager and areaageneral manager for MEA, Basem Obaid.

UNB has become one of the first banks in the world to establish, implement and verify enterprise wide risk management system based on the guidelines of ISO 31000:2009.

The scope of UNB’s enterprise wide risk management framework for ISO 31000:2009 includes ‘adoption of enterprise wide integrated risk management principles and guidelines covering operational, market and credit risks for the complete range of banking products and services as well as related processes and procedures across all the business and support functions’.

The implementation of these standards demonstrates that UNB’s enterprise wide risk management practices are comparable with internationally recognised benchmarks, providing sound principles for effective risk governance and assurance to internal and external stakeholders.

Abdulla Al Rashedi, SVP and head of Management Services Group at UNB, said: “We are very pleased to be conferred with the latest LRQA recognitions, which truly demonstrate UNB Group’s commitment to continual improvement and business excellence. I am glad that over the years, our quality focus has remained even as our operations have expanded significantly.”