Ajman, July 4, 2024: The Ajman Department of Finance, represented by Jassim Bu Osaiba, Director of the Department’s Internal Audit Office, attended the prestigious 30th Annual Reserve Management Seminar held by UBS Swiss Bank in Zurich, Switzerland.
The seminar is renowned for its in-depth discussions on the latest trends in global cash reserves management across various sectors. It focuses on asset allocation considering geographic, political, and economic factors. Over 50 entities from 46 countries took part in this year’s seminar.
The Ajman Department of Finance’s participation underscores its dedication to aligning with current strategies and adhering to global financial best practices, particularly in cash reserves management. This commitment is vital for enhancing financial sustainability, anticipating future changes, and fostering adaptability to potential challenges.
Jassim Bu Osaiba emphasized that this year’s seminar delved into global trends shaping the economy, such as the decline in globalization, geopolitical shifts, digitization, and sustainability. He highlighted that attending the seminar provided a valuable opportunity to learn about cutting-edge methodologies, network with participants, and exchange experiences to stay abreast of industry developments and preempt financial risks.
The Director of the Ajman Department’s Internal Audit Office elaborated that amidst the rapid transformations in the global economy, robust cash reserves management policies and practices play a pivotal role in supporting economic and financial stability. They facilitate striking a balance between liquidity and security while aiming for optimal returns and reducing vulnerability to external crises. – Jassim Bu Osaiba, Director of the Department’s Internal Audit Office at DOF
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