Baku:Central Bank of Jordan Deputy Governor Khaldoun Al-Wishah stressed the importance of adopting a proactive risk-based auditing approach to strengthen the resilience of the banking sector against emerging macroeconomic and technological challenges.
According to Jordan News Agency, Al-Wishah delivered these remarks at a workshop organized by the Institute of Banking Studies. The event, titled "Board of Directors and Risk-Based Auditing A Forward-Looking Perspective," focused on the need for a banking model that incorporates proactive risk forecasting, institutional agility, and strong corporate governance.
Al-Wishah highlighted that the rapid digital transformation, growth of electronic banking, rising cybersecurity threats, climate-related financial risks, and anti-money laundering and countering the financing of terrorism mandates necessitate a fundamental update of risk oversight mechanisms within Jordan's financial sector.
He outlined three key pillars for building an adaptable financial framework updating legislative and supervisory frameworks to align with global standards, enhancing the strategic role of bank boards in risk governance, and empowering risk-based internal auditing as an independent defense linked to board audit committees.
Riad Al-Hindawi, Director General of the Institute of Banking Studies, noted that the workshop is part of an executive training series. This series aims to convert regulatory directives into practical governance frameworks for bank board members and senior executives, thereby strengthening internal controls and operational resilience throughout the banking industry.