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THE ARAB MONETARY FUND IS ORGANIZING A COURSE ON "MODERN FINANCIAL TECHNOLOGIES AND BLOCKING TECHNIQUES" ABU DHABI - UNITED ARAB EMIRATES DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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THE ARAB MONETARY FUND IS ORGANIZING A COURSE ON "MODERN FINANCIAL TECHNOLOGIES AND BLOCKING TECHNIQUES" ABU DHABI - UNITED ARAB EMIRATES

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THE ARAB MONETARY FUND IS ORGANIZING A COURSE ON "MODERN FINANCIAL TECHNOLOGIES AND BLOCKING TECHNIQUES" ABU DHABI - UNITED ARAB EMIRATES Empty THE ARAB MONETARY FUND IS ORGANIZING A COURSE ON "MODERN FINANCIAL TECHNOLOGIES AND BLOCKING TECHNIQUES" ABU DHABI - UNITED ARAB EMIRATES

Post by claud39 on Sun Jul 07, 2019 8:45 am

THE ARAB MONETARY FUND IS ORGANIZING A COURSE ON "MODERN FINANCIAL TECHNOLOGIES AND BLOCKING TECHNIQUES" ABU DHABI - UNITED ARAB EMIRATES




2019-07-07



THE ARAB MONETARY FUND IS ORGANIZING A COURSE ON "MODERN FINANCIAL TECHNOLOGIES AND BLOCKING TECHNIQUES" ABU DHABI - UNITED ARAB EMIRATES GLP_5148%20%28Medium%29



The seminar on "Modern Financial Technologies and Blocking Techniques" organized by the Institute of Economic Policy in the Arab Monetary Fund (AMI) opened at the Fund's headquarters in Abu Dhabi 
on July 7-11, 2019. 


The rapid introduction of modern technologies into economic and financial activity and the so-called digital revolution have led to unprecedented transformations in the banking and finance industry, corporate finance, financial markets, the insurance sector, payment and settlement systems and investment activities in the financial markets. Has recently reduced operating costs by an estimated 40 per cent for large financial institutions. Global investments in the new financial technology industry have also grown ten times the growth of the last decade.

In the Arab region, relative growth is evident in modern financial technology companies. The number of companies in the last five years has increased to about 200 start-ups compared to 30 companies at the beginning of the period. The launch of 250 companies by 2020. There is no doubt that more efforts are needed to encourage and support the localization and development of these companies and their activities in the Arab region. 

On this occasion, Dr. Abdulrahman bin Abdullah Al Humaidi, Director General and Chairman of the Fund, said:

[url=https://www.amf.org.ae/sites/default/files/%D9%83%D9%84%D9%85%D8%A9 %D8%A7%D9%84%D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD-Fintech Blockchain Workshop-30062019.pdf]Text[/url]



[url=https://www.amf.org.ae/sites/default/files/%D9%83%D9%84%D9%85%D8%A9 %D8%A7%D9%84%D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD-Fintech Blockchain Workshop-30062019.pdf]https://www.amf.org.ae/sites/default/files/%D9%83%D9%84%D9%85%D8%A9%20%D8%A7%D9%84%D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD-Fintech%20%20Blockchain%20Workshop-30062019.pdf[/url]


THE ARAB MONETARY FUND IS ORGANIZING A COURSE ON "MODERN FINANCIAL TECHNOLOGIES AND BLOCKING TECHNIQUES" ABU DHABI - UNITED ARAB EMIRATES GLP_5120%20%28Medium%29

THE ARAB MONETARY FUND IS ORGANIZING A COURSE ON "MODERN FINANCIAL TECHNOLOGIES AND BLOCKING TECHNIQUES" ABU DHABI - UNITED ARAB EMIRATES GLP_5224%20%28Medium%29






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-%D8%AF%D9%88%D8%B1%D8%A9-%D8%A7%D9%84%D8%AA%D9%82%D9%86%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D8%AD%D8%AF%D9%8A%D8%AB%D8%A9-%D9%88%D8%AA%D9%82%D9%86%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%A8%D9%84%D9%88%D9%83%D8%B4%D9%8A%D9%86-%D8%A3%D8%A8%D9%88%D8%B8%D8%A8%D9%8A-%E2%80%93-%D8%AF%D9%88%D9%84%D8%A9


Last edited by claud39 on Sun Jul 07, 2019 8:51 am; edited 1 time in total
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THE ARAB MONETARY FUND IS ORGANIZING A COURSE ON "MODERN FINANCIAL TECHNOLOGIES AND BLOCKING TECHNIQUES" ABU DHABI - UNITED ARAB EMIRATES Empty Re: THE ARAB MONETARY FUND IS ORGANIZING A COURSE ON "MODERN FINANCIAL TECHNOLOGIES AND BLOCKING TECHNIQUES" ABU DHABI - UNITED ARAB EMIRATES

Post by claud39 on Sun Jul 07, 2019 8:49 am

a word
His Excellency Dr. Abdulrahman bin Abdulla Al-Humaidi,
General Manager and Chairman
At the opening of the session
About
"Modern Financial Technologies and Blocking Techniques"

Abu Dhabi
2019 July 11-7

Dear sisters and brothers
I am pleased to welcome you to the most welcome opening ceremony of the "Modern Financial Technologies and Techniques" course
Especially in the areas of economic activities and the extent to which this is applied in the banks of the Balkansin,
The hopes of your generous attendance in this Islamic world will contribute to enriching and deepening the course
The important and accelerated topic.
Dear sisters and brothers
The acceleration of the entry of modern technologies into economic and financial activity and the so-called revolution
Has recently led to unprecedented shifts in the financial and banking industry,
Banking, corporate finance, financial markets, insurance, and payment systems
Settlement and investment activities in the financial markets, where the use of modern technologies has led to
Reduced operating costs by an estimated 40 per cent for large financial institutions.
Global investments in the modern financial technology industry have also grown by an estimated 10 percent
Fold growth in the last decade.
In turn, companies of modern financial technologies,
relatively
Our Arab region has witnessed growth
Increasing over the past five years to about 200 emerging companies
Compared to about 30 companies at the beginning of the period, and industry experts expect to exceed the number of companies
Emerging financial technologies are being launched by 250 companies by 2020
That more efforts are needed to encourage and support the localization and development of these companies and their activities in
Our Arab region.
The United Nations estimates that these technologies can generate about $ 380 billion in revenue for banks
US $ by 2020, of which US $ 270 billion will be through microfinance
.
And $ 110 billion through the provision of financial services to individuals who are not financially covered
Modern financial techniques can also enhance financial inclusion through solutions
Such as digital identity, asset records, and smart contracts
Meet the requirements of your customer knowledge rules and facilitate compliance with credit inquiry systems.

It is also expected that with respect to the techniques of "blockin", or block chains, contribute to the reduction
The operating costs of global banks are estimated at between 30 and 70 per cent at a cost of up to one
Between US $ 8-12 billion by 2025. In addition, opportunities are available
To improve the speed and reduce the cost of remittances worldwide, where it is estimated
The expected reduction in remittance expenses in the GCC countries
For example, by about 10 to 20 per cent, where these transfers account for a proportion
Accounted for 25 per cent of global remittances. The plucin techniques can also contribute to
To regulate and regulate the procedures of trade finance operations in such a way as to save them from costs
$ 30-40 billion a year worldwide.
Dear sisters and brothers
In return for these advantages, the financial industry is facing the use of several modern technologies
during
The most important of which are data protection, confidentiality and e-security in particular
Cross-border handling and different legislative systems, and the inability to accurately define a system
As well as the increase in core capital, and correlation
The extent of the speed of completion of transactions in the size of the network of dealers and the distance between them depending on the quality
Financial infrastructure available. It is important to reinforce the concept of interoperability
Interoperability between financial service providers and infrastructure-based providers
Is available, an electronic system that works on the idea of ​​using one system more than one end
The
Between payment providers across
Especially, "One to Many
Of the providers of such services "
Mobile phones, which would reduce transaction costs and contribute to greater access
It is beyond challenge
A measure of advanced financial services in rural and remote areas, added
Operations are small in scale and limited in financial terms. It represents "interoperability" between providers
Financial services centralize payments systems and are the key to their success, thus contributing to building an environment
Incubator of an integrated national payment system, thereby strengthening financial inclusion.
Blocking techniques also offer another challenge: determining the whereabouts of financial assets
That the transactions are not in the custody of a particular financial institution. All this requires human capital
Qualified and trained to reach a legislative and regulatory framework for the industry. There is no doubt that this is necessary
Communicate with the private sector and institutions engaged in modern financial techniques to understand


Business models, building new financial technology solutions, and regulatory solutions
 (Regtech & Suptech) and supervision
As you know, the products and solutions of modern financial technologies or regulatory solutions & Regtech (
(Suptech) offered by financial technology companies, are not subject to specific laws or controls.
Perhaps even more so, the range of transactions extends across the world. These grow
The industry is accelerating, and existing systems and legislation can not cope with it
In some sectors of the technology industry
On supervisory and supervisory bodies, especially financial ones
Such as smart contracts and automated job consulting
(Robo Advisors), as well as providing services across continents under legislative regulations
Different ..
Dear sisters and brothers
In addition to the above, the focus will be on the following topics:
• Building an incubator environment for modern financial techniques and blockbuster techniques, and conducting case studies
On the uses of modern financial techniques and plocin techniques in Islamic finance
Financial sector and financial markets.
• Regulatory and regulatory framework for modern financial techniques and blockbuster techniques
The Arab world and how the regulatory laboratory works for modern financial technology solutions.
• Blocking techniques, digital identity, customer know-how, and cases
Study.
In this context, I would like to point out that the Arab Monetary Fund has established the Regional Technology Working Group
Modern finance in the Arab countries to lay the foundations of the environment supportive of modern financial technologies
Arab countries. The Fund is also working on the preparation and issuance of series of working papers and studies on
The various topics of modern financial techniques in the Arab countries, in addition to the platform that has been
"As a platform for information exchange and consultation" on various topics of financial techniques
Modern.

In conclusion, I would like to thank and thank the experts for submitting the course materials. I would also like to encourage you to
Take advantage of this opportunity to benefit from the experiences of your various countries and explore the experiences of the countries of the world
Maximizes the benefit of this important session.
Finally, I wish you a successful course as well as a good stay in the UAE.
Peace and mercy of God be upon you.



[url=https://www.amf.org.ae/sites/default/files/%D9%83%D9%84%D9%85%D8%A9 %D8%A7%D9%84%D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD-Fintech Blockchain Workshop-30062019.pdf]https://www.amf.org.ae/sites/default/files/%D9%83%D9%84%D9%85%D8%A9%20%D8%A7%D9%84%D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD-Fintech%20%20Blockchain%20Workshop-30062019.pdf[/url]
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THE ARAB MONETARY FUND IS ORGANIZING A COURSE ON "MODERN FINANCIAL TECHNOLOGIES AND BLOCKING TECHNIQUES" ABU DHABI - UNITED ARAB EMIRATES Empty THE ARAB MONETARY FUND AT THE SOFITEL HOTEL IN ABU DHABI ORGANIZED THE ANNUAL MEETING OF THE PERMANENT BUREAU OF THE BOARD OF GOVERNORS OF CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS ON SUNDAY 7 JULY 2019

Post by claud39 on Mon Jul 08, 2019 8:00 am

THE ARAB MONETARY FUND AT THE SOFITEL HOTEL IN ABU DHABI ORGANIZED THE ANNUAL MEETING OF THE PERMANENT BUREAU OF THE BOARD OF GOVERNORS OF CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS ON SUNDAY 7 JULY 2019




2019-07-08





THE ARAB MONETARY FUND IS ORGANIZING A COURSE ON "MODERN FINANCIAL TECHNOLOGIES AND BLOCKING TECHNIQUES" ABU DHABI - UNITED ARAB EMIRATES JNL01196%20%28Medium%29








Permanent Bureau of the Board of Governors of Central Banks and Arab Monetary Institutions

 


  • Attends the 43rd Annual Meeting of the Council

  • Welcoming the establishment of a working group of modern financial techniques and emphasizing its role in following developments in the applications of modern technologies in the Arab region

  • To follow up the interest of the initiative to enhance financial inclusion in the Arab countries and to call for the implementation of statistical surveys models to improve indicators of financial inclusion in the Arab countries

  • Commending the progress made in the establishment of the Arab Regional Clearing and Settlement Corporation

  • Welcome the invitation of the Central Bank of Egypt to host the next meeting of the Council on September 15 in Cairo



 

The Arab Monetary Fund at the Sofitel Hotel in Abu Dhabi organized the annual meeting of the Permanent Bureau of the Board of Governors of the Central Banks and Arab Monetary Institutions on Sunday, July 7, 2019, to prepare for the next forty-third session of the Council. The meeting was chaired by HE Mr. Hafez Fakhir Muayad, Governor of the Central Bank of Yemen, Chairman of the current session of the Board, with the participation of His Excellency Mubarak Rashid Al Mansoori, Governor of the Central Bank of the UAE; HE Jamal Najm, Deputy Governor of the Central Bank of Egypt; Assistant to the Economic Affairs of the General Secretariat of the League of Arab States, and HE Dr. Abdulrahman bin Abdullah Al-Humaidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund.

The agenda of this year's meeting, in addition to the report of the secretariat of the Council, presented by HE Dr. Abdulrahman bin Abdullah Al-Humaidi included a number of topics, including a report on the work of the Arab Banking Supervision Committee and two reports on the work of the Regional Task Force on Financial Inclusion and the Financial Stability Task Force , As well as a report on the work of the Arab Committee for Credit Information, and another report on the work of the Arab Committee for Payment and Settlement Systems. It also included a report on the work of the Working Group on Modern Financial Technologies established by the Arab Monetary Fund in December 2018.

Banking supervision of organizations of systemic importance locally, operational risk frameworks and aspects of cybersecurity in operational risk, digital banking identity, responsible finance, risky asset movements and their impact on financial stability, the risks and implications of encoded currencies on the financial sector, The impact on financial stability, the indicators of the safety of the corporate sector, the identification of risks and their implications for the financial sector in the Arab countries, the use of digital currencies in payment systems, Instant At the Arab countries, and uses Alblukhan technology in the processes of payments, and applications of advanced methodologies related to artificial intelligence in the field of credit information and registration systems of funds transferred in the Arab States, and the general principles for the assessment of credit for small and medium-sized businesses, and the experiences of collective funding in Arab countries applications,

The Permanent Bureau has approved the presentation of these papers, reports and recommendations concerning the next meeting of the Board of Governors of Central Banks and Arab Monetary Institutions. He also stressed the importance of following up the work of international frameworks, bodies and committees, thus contributing to the transfer of the views of the Arab countries towards the recommendations and standards issued by these bodies.

The Permanent Bureau welcomed the establishment of the Arab Monetary Fund for the Working Group on Modern Financial Technologies, stressing the great importance of the Group in disseminating knowledge and enhancing the exchange of experiences and experiences among the Arab countries in this vital field. The Permanent Office also called on the Group to develop programs and initiatives that would develop the services industry in the Arab countries, stressing the importance of hedging the risks that may arise in this regard. The importance of considering the establishment of a regulatory laboratory at the level of the Arab region was also highlighted to encourage Arab financial technology companies.

The Permanent Bureau also adopted at its meeting today the draft issues proposed for inclusion in the 2019 Arab Consolidated Address to be presented by the Arab Group at the annual meetings of the IMF and the World Bank scheduled for October. Emphasis was placed on urging international financial institutions to increase support to the Arab region.

On the other hand, the Permanent Bureau welcomed the progress made in the regional initiative launched by the Arab Monetary Fund to enhance financial inclusion in the Arab countries in cooperation with the Global Alliance for Financial Inclusion, the German Development Agency and the World Bank. National strategies and programs to enhance financial inclusion, specifically in terms of empowering women, young people, micro-, small and medium-sized enterprises to access financial services, expand access to new technologies and benefit from international experiences in this regard. He also called for attention and preparation for the Arab Day's demands for financial coverage for the year 2020.

With regard to the Arab clearing project, the Permanent Office expressed its thanks and appreciation to the Arab Monetary Fund and its Board of Governors for adopting the Arab clearing system, appreciating the efforts of the Fund to complete the implementation phase and the progress made on the various implementation tracks, stressing the keenness of the Central Banks and Arab monetary institutions to support and support the Fund's efforts. In this regard. The importance of applying the highest international standards and principles was also stressed.

Finally, the Bureau adopted the date and place of the 43rd Annual Meeting of the Board of Governors of Central Banks and Arab Monetary Institutions to be held on Sunday 15 September 2019 in Cairo, Egypt, at the invitation of the Central Bank of Egypt. The Bureau also adopted the program of the meeting. The Council will discuss the regional, international and regional monetary, financial and economic developments and their implications for the Arab countries. The meeting will also address other important topics, such as the governance of central banks and the digital currencies of central banks.



THE ARAB MONETARY FUND IS ORGANIZING A COURSE ON "MODERN FINANCIAL TECHNOLOGIES AND BLOCKING TECHNIQUES" ABU DHABI - UNITED ARAB EMIRATES JNL01193%20%28Medium%29




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