VIII. ICAAP Submission and Approval

C 52/2017 STA Effective from 1/4/2021

Submission of the ICAAP report

125. The annual ICAAP report should be submitted to the Central Bank on or before the submission dates addressed in Table 1.

126. All documents have to be submitted to the respective Central Bank reviewer by softcopy (submitted in word or pdf format), sending a copy to bsed.basel@cbuae.gov.ae.

127. The submission dates below as per Notice 2940/2022 differentiate between (i) national banks and foreign bank and (ii) size and importance of the banks: (Table 1)

Table 1 - Submission date for ICAAP Report

Banks	Report for FY 2022	Report for FY 2023 onwards
Large banks: FAB, ENBD, ADCB, DIB, Mashreq, ADIB, CBD	15/03/2022	01/03
Other local banks and HSBC, Standard Chartered Bank, Citibank, Arab Bank, and Bank of Baroda	31/03/2022	31/03
Other Foreign Banks	15/04/2022	15/04

Approval of the ICAAP report:

128. The ICAAP report should be approved by:

(i)	Senior Management (including the CRO): The bank should use Appendix 1 – ICAAP – Mandatory disclosure form (Table 2) and include it as an attachment to the ICAAP report;
(ii)	Board approval: For all local banks, the ICAAP document must be approved by the Board or Board risk committee, and Senior Management prior to submission to the Central Bank. The meeting minutes of the Board of Directors meeting should state the approval of the ICAAP document and challenges that have taken place; and
(iii)	For foreign branches, the ICAAP document should be approved by (a) the managing director and/ or relevant highest committee of the bank in the UAE, and by (b) their head office, stating that the ICAAP assumptions and forecasts are in line with the group’s assumptions, forecasts, and that the group’s Board approves/ endorse the results of the ICAAP.