THE ARAB MONETARY FUND ORGANIZES A REMOTE WORKSHOP ON "THE MAIN CONSIDERATIONS FOR ACTIVATING MODERN REGULATORY AND SUPERVISORY TECHNIQUES AND THE SUBSEQUENT STEPS"

by **claud39** Fri Jun 25, 2021 10:33 am

THE ARAB MONETARY FUND ORGANIZES A REMOTE WORKSHOP ON "THE MAIN CONSIDERATIONS FOR ACTIVATING MODERN REGULATORY AND SUPERVISORY TECHNIQUES AND THE SUBSEQUENT STEPS"

2021-06-23

Wednesday and Thursday 23-24 June 2021

The workshop discusses:

The main concepts and trends of modern regulatory and supervisory techniques and the role of these techniques in improving compliance efficiency, mitigating risks and protecting customers.

Presenting world-leading experiences and approaches at the level of regulatory authorities and financial institutions.

Ways to address the challenges facing the adoption of these technologies such as electronic safety, good governance, and interoperability.

The importance of supporting cooperation between all relevant parties .

Adopting a practical guide on plans to activate modern regulatory and supervisory techniques

Today and tomorrow, Wednesday and Thursday, June 23-24, 2021, the Arab Monetary Fund will hold a workshop on " main considerations for activating modern regulatory and supervisory techniques and subsequent steps.". All parties involved in modern financial technology topics will participate in the workshop, including: central banks and Arab monetary institutions, capital market authorities, stock exchanges, financial and banking institutions, bank unions, and modern financial technology companies in Arab countries. A number of international institutions, including the World Bank, the International Finance Corporation, the Financial Stability Board, the Islamic Financial Services Board, the United Nations Development Program, the Institute for Financial Stability, the Hong Kong Monetary Authority, the Financial Guidance Authority in the United Kingdom, and the Center Cambridge University Alternative Finance, Association of Modern Financial Technologies of Singapore, and Islamic Development Bank Group.

The arrangement of the workshop comes within the framework of the Fund's keenness to support the efforts of Arab countries in digital financial transformation and to support opportunities to enhance innovation in the field of financial technologies by developing tools and solutions for modern regulatory and supervisory techniques. In this context, the workshop seeks to establish a clear understanding of what modern regulatory and supervisory techniques are, their trends, and the role of these technologies in improving compliance efficiency, mitigating risks and protecting customers, and identifying the requirements for the successful adoption of these technologies.

The workshop deals with deepening the main concepts of modern regulatory and supervisory techniques, their latest developments, and reviewing the latest methodologies and leading experiences in this regard, by identifying global experiences such as the United Kingdom, Hong Kong and Singapore, on how to adopt these technologies.

The workshop reviews various use cases, such as the use of modern control and supervisory techniques in following up on compliance, anti-money laundering and terrorist financing reports, the insurance industry, electronic security, as well as distributed ledger technologies and block chains. It also highlights how to overcome the challenges that hinder the adoption of such technologies. Moreover, participants will discuss the adoption of a practical guide on how to use modern regulatory and supervisory techniques, whether by supervisory authorities or by financial institutions and providers of modern financial technology services alike.

On this occasion, His Excellency Dr. Abdul Rahman bin Abdullah Al Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, expressed the importance of the topic of the workshop in order to support digital financial transformation and develop innovative services, taking into account risk hedging and upgrading the compliance system in the applications of modern financial technologies, noting the opportunities offered by solutions The tools of modern regulatory and supervisory techniques in improving compliance efficiency, mitigating risks and protecting digital financial services users, which will positively affect the development of the digital financial services industry. His Excellency touched on the importance of the practical guide on plans to activate modern regulatory and supervisory techniques, which is being prepared by the group of modern financial technologies in the Arab countries, whose technical secretariat is held by the Arab Monetary Fund, as it represents a framework that helps in adopting the required reforms.

https://www.amf.org.ae/ar/content/%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A-%D9%8A%D9%86%D8%B8%D9%85-%D9%88%D8%B1%D8%B4%D8%A9-%D8%B9%D9%85%D9%84-%D8%B9%D9%86-%D8%A8%D9%8F%D8%B9%D8%AF-%D8%AD%D9%88%D9%84-%D8%A7%D9%84%D8%A7%D8%B9%D8%AA%D8%A8%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3%D8%A9-%D9%84%D8%AA%D9%81%D8%B9%D9%8A%D9%84-%D8%A7%D9%84%D8%AA%D9%82%D9%86%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%AA%D9%86%D8%B8%D9%8A%D9%85%D9%8A%D8%A9