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Readiness of UAE Banks for the Implementation of Basel III

The objective of this study is to investigate the UAE banks readiness for Basel III implementation. It is crucial for the UAE banks to have good preparation to make sure their compliance with international standards and practices in the banking sector. The authors developed a modified questionnaire based on a survey conducted by the Bank for International Settlements (BIS) in 2013 on Basel III implementation. In addition, Quantifi and Ernst % Young Survey (2013) were used in this study. The study attempted to answer four questions and test three hypotheses about the UAE banks implementation of Basel III. The results indicate that the UAE banks were aware of the benefits of the implementation of Basel III; the UAE banks employees were well educated about Basel III and they were ready for the implementation of Basel III as they have the required resources and trained managers. In addition, the regression results indicate that the most important factor of Basel III implementation is the availability of the needed resources.