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Qatar Regulator Reprimands RBS For Insufficient Staff Training

Qatar Financial Centre pronounced it has supposed an enforceable endeavour from RBS to settle a “remedial movement plan.”

Qatar’s financial regulator has reprimanded Royal Bank of Scotland for deficient training of a bend staff, it pronounced on Tuesday.

“Although RBS QFC had a programme in place, it was deficient in a series of element respects and it fell brief of a standards approaching of certified firms,” a Qatar Financial Centre Regulatory Authority (QFC RA) pronounced in a statement.

“The QFC has supposed an enforceable endeavour from RBS QFC to settle a calming movement devise to safeguard destiny correspondence with a training and competency requirements,” it said.

RBS’s bend in a financial centre resolved to compensate costs of a investigation, that is now concluded, a watchdog pronounced but giving serve details.

“RBS has cooperated entirely with a QFC RA during a investigation,” an RBS orator pronounced in response to Reuters questions.

“We are operative with a QFC RA to make a required changes to a training processes and procedures of a Qatar bend to safeguard correspondence with a QFC RA’s training and competency requirements,” she said.

RBS has been in a Qatar Financial Centre given 2007 and now offers markets and general banking services by a bend in a centre.

RBS has around 200 staff in 8 countries opposite a Middle East and Africa segment with a infancy formed in a United Arab Emirates.

The British state-controlled lender skeleton to boost appropriation for a money government and trade financial business in a Middle East following a duration of consolidation, a tip informal executive pronounced in September.

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