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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS

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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS

Post by claud39 on Thu Sep 12, 2019 8:26 am

UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS 15 SEPTEMBER 2019 CAIRO




2019-09-12





UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Logo-ar










Following up on the latest economic, financial and monetary developments, developments in banking supervision, financial stability and coverage, payment and settlement systems, and modern financial technologies.

Discuss the strengthening of the elements of central bank governance and the opportunities and requirements for issuing digital currencies to central banks

Follow up the progress in establishing the Arab Corporation for Clearing and Settlement of Arab Payments




Under the patronage and presence of HE Dr. Mostafa Madbouly, Prime Minister of the Arab Republic of Egypt, the 43rd Ordinary Session of the Board of Governors of Central Banks and Arab Monetary Institutions will open on Sunday, September 15, at the Four Seasons Nile Plaza Hotel in Cairo. The opening speeches will include a speech by His Excellency Dr. Ziad Fariz, Governor of the Central Bank of Jordan, Chairman of the Board of Directors, in addition to a speech by His Excellency Dr. Abdulrahman bin Abdullah Al Humaidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund. Governors of central banks and Arab monetary institutions will participate in the session. The meeting will also be attended by observers from the League of Arab States, the General Secretariat of the Gulf Cooperation Council, the Union of Arab Banks, the Federation of Arab Securities Commissions, the Financial Action Group for the Middle East and North Africa, as well as the Arab executives of the IMF and the World Bank. It should be noted that the Arab Monetary Fund has been the secretariat of the Council since 1980.




The agenda of the session includes a number of important topics, including the discussion of regional and international monetary, financial and economic developments and their repercussions on the Arab countries, and the issues of governance of central banks and the currencies of central banks, in the presence of senior officials of the International Monetary Fund.




The agenda also includes reviewing the report of the secretariat of the Council presented by His Excellency Dr. Abdulrahman bin Abdullah Al Humaidi, Director General of the Board of Directors of the Arab Monetary Fund, the draft financial stability report for 2019, the draft consolidated Arab economic report for 2019, in addition to the recommendations and actions of the Committee. Arab Banking Supervision, Arab Commission for Payment and Settlement Systems and Arab Commission for Credit Information. The table also discusses the recommendations and actions of the Regional Working Group on Financial Inclusion in the Arab States and the Financial Stability Task Force.




Under these items, the Board will discuss a number of topics, worksheets and reports, the most important of which will include “Banking Control of Institutions of Systemic Importance locally: Arab Experiences”, “Operational Risk Frameworks”, “Digital Banking Identity” and “Responsible Finance: Policies”. Tools and experiments "," movements of risky assets and their impact on financial stability "," risks and repercussions of cryptocurrencies on the financial sector "," determining the size of indebtedness of the family sector in the Arab countries and its impact on financial stability "," indicators of corporate sector safety and identification Risk and its implications for the financial sector In Arab Countries". The papers also include "Using Cryptocurrencies in Payment Systems", "Experiences of Instant Payments in Arab Countries", "Uses of Blockchain Technology in Payment Processes: Prospects and Opportunities", and "




The agenda also includes taking note of the activities of the Financial Technologies Working Group, established by the Arab Monetary Fund in December 2018. In the Arab region and around the world, business incubators and accelerators, international financial institutions involved.




In this context, the Board will discuss a paper on crowdfunding platforms: prospects and regulatory frameworks, a paper on blockchain techniques and financial sector safety. The proposal will also address the proposal of the Regional Laboratory for Financial Innovations, which was developed within the framework of the Financial Inclusion Initiative for the Arab Region.




In addition to these topics, the agenda includes a number of issues of importance to central banks and Arab monetary institutions. It should be noted that the project aims to promote inter-Arab investments and trade and the use of Arab currencies. In addition, the meeting will discuss the draft unified Arab letter for 2019, which will be presented by the Arab Group at the annual meetings of the International Monetary Fund and the World Bank scheduled for next October in Washington.




On this occasion, His Excellency Dr. Abdulrahman bin Abdullah Al Humaidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, expressed the importance of papers and topics to be discussed by the Board this year, in the light of regional and international economic, financial and banking developments. He also praised the support and attention given by His Excellency the Governors of the Central Banks and Arab Monetary Institutions to develop the activities and activities of the Council, stressing that the meeting is always an opportunity to exchange experiences, experiences and coordination between the monetary authorities in the Arab countries. The Arab Republic of Egypt to host the meeting and provide all the facilities for its success, and to the Prime Minister Dr. Mostafa Madbouli for his kind patronage of the meeting, noting also the cooperation of His Excellency Tarek Amer, Governor of the Central Bank of Egypt and his colleagues in the Bank To prepare for the meeting.




 On this occasion, he expressed his thanks and appreciation to the headquarters of the Arab Monetary Fund, the United Arab Emirates, for providing all the facilities that will undoubtedly help the Fund carry out its tasks.







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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty UNDER THE PATRONAGE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER AND HOSTED BY THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND AND THE INTERNATIONAL MONETARY FUND ORGANIZE A HIGH-LEVEL WORKSHOP ON FINANCING SMES ON 16 SEPTEMBER 2019 CAIRO - EGYPT

Post by claud39 on Fri Sep 13, 2019 8:23 am

UNDER THE PATRONAGE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER AND HOSTED BY THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND AND THE INTERNATIONAL MONETARY FUND ORGANIZE A HIGH-LEVEL WORKSHOP ON FINANCING SMES ON 16 SEPTEMBER 2019 CAIRO - EGYPT




2019-09-13

UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Logo-ar




Challenges facing SMEs in the Arab States

Enhance SME access to finance and formal financial services

New official channels for financing SMEs and opportunities to benefit from modern technologies


Under the patronage of HE Dr. Mostafa Madbouly, Prime Minister of the Arab Republic of Egypt, a high-level workshop on enhancing financial inclusion and developing SMEs in the Arab countries will be opened on Monday 16 September at the Four Seasons Nile Plaza Hotel in Cairo. 

The Arab Monetary Fund in cooperation with the Middle East and Central Asia Department of the International Monetary Fund, in the presence of high-level representatives of institutions concerned with small and medium enterprises and banks and Arab and international institutions in the public and private sectors.

The agenda of the session includes a number of important topics, including discussing aspects of enhancing the access of SMEs to finance from official channels, where this sector is one of the most important pillars of the economy in most countries of the world, as well as one of the most important areas of job creation.

 These projects also have positive repercussions on improving financial inclusion and enhancing financial, economic and social stability. SMEs account for more than 95 per cent of total enterprises in the vast majority of the world. SMEs contribute about 33 percent of the GDP of developing economies.


The workshop will also discuss several aspects that can help increase bank credit for SMEs, including the provision of government support, macroeconomic stability, financial sector safety, the existence of a competitive banking system, regulatory and legislative reform, and the role of credit information systems. A stable economic environment and a strong financial structure for the financial sector will enhance SMEs' access to bank credit.

In this context, the workshop will also discuss developments and developments related to the opening of alternative official channels for small and medium enterprises to facilitate and enhance their access to finance, where the need for this sector in the search for funding channels to compete with traditional channels, especially as the world has witnessed developments after the recent global financial crisis Digital finance and applications of modern financial technologies.

 New financial technologies offer new opportunities to enhance SME access to credit. Crowdfunding is one of the most innovative channels that can contribute to SME access. Financing platforms in developing countries play an important role in financing innovation.

 An essential driver for increasing productivity and competitiveness. Crowdfunding platforms are expected to enable developing countries to reduce the challenges of financial intermediation and allow individuals to make direct contributions and investments in projects they wish to invest in. 

The workshop also discusses the opportunities offered by modern technology companies to provide financing for small enterprises, and the corresponding risks that may arise from the increasing dependence of SMEs on solutions provided by modern financial technologies, such as cyber security risks and credit risks.

Other aspects of the workshop will be the role that financial markets can play in raising finance for SMEs and learning about experiences in this regard.

On this occasion, His Excellency Dr. Abdul Rahman bin Abdullah Al Humaidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, expressed the importance of the topics to be discussed in the light of the important role played by SMEs in promoting sustainable economic development and enhancing financial and social stability. 


He also praised the effectiveness of the support and attention given by His Excellency the Governors of Central Banks and Arab Monetary Institutions to provide national programs and initiatives to support this important sector, stressing that the workshop represents an opportunity to exchange experiences and expertise among the various institutions concerned in the Arab countries. His thanks and gratitude to the Arab Republic of Egypt for hosting the workshop and providing all the facilities for its success.



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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty 10 main axes focused on the central bank governors in the 43rd session

Post by claud39 on Sun Sep 15, 2019 6:06 pm

10 main axes focused on the central bank governors in the 43rd session




15 September 2019 08:51 PM





UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS 1024






CAIRO - Egyptian Prime Minister Mostafa Madbouly on Sunday inaugurated the 43rd session of the Board of Governors of Central Banks and Arab Monetary Institutions.

The Central Bank of Egypt said in a statement on Sunday that the 43rd session of the Board of Governors of Central Banks discussed 10 main axes as follows:

1- Regional and international monetary, economic and financial developments, their repercussions on the Arab economies, and the challenges facing the world economy, including high levels of indebtedness and developments in world trade. 

2. Governance of Central Banks Rapid developments and expansion of responsibilities of central banks.

3. Strengthen the capacity of central banks to support financial stability and develop risk management in line with developments in the financial and banking sector. In this context, the Board welcomed the recommendations of the recent IMF study on the governance of central banks. 

4 - The accelerated developments in the financial and banking industry in terms of the growing issuance of cryptocurrencies to central banks, and focused on the members of the Council on the opportunities offered by cryptocurrencies in the promotion of financial inclusion, the fight against corruption and money laundering, and the development of electronic payment tools and improve liquidity management.

The CBE pointed out that the Council noted the need to address the risks that may arise, in addition to studying the possible effects on monetary policy, and the importance of appropriate preparation.

5. Building the capacity of central banks wishing to issue cryptocurrencies, and developing standards regarding digital identity and the principles of knowing your customer. The Council also stressed the importance of developing appropriate legislation and enhancing international coordination in this regard. 

6. The work and recommendations of its committees and task forces, namely, the Arab Banking Supervisory Committee, the Regional Working Group for Promoting Financial Inclusion in the Arab States, the Financial Stability Task Force, the Arab Commission for Payment and Settlement Systems, and the Arab Credit Information Committee. 

In this context, the Board discussed a number of papers and topics worked on by committees and teams, the most important of which were “Banking Supervision on Institutions of Local Systemic Importance: Arab Experiences”, “Responsible Finance: Policies, Tools and Experiences”; Arab Countries and their Impact on Financial Stability "," Experiences of Instant Payments in Arab Countries ", and" General Principles of Credit Rating for SMEs: Arab Experiences ".

The Council stressed the importance of the proposals and recommendations contained in these papers, calling for their implementation in accordance with the situation of each country. He also briefed the CBE on the experience of the CBE in developing national payment systems and benefiting from modern technologies.

The Council welcomed the establishment of the Group of Modern Financial Technologies, due to its importance as a platform that brings together the most important parties and parties concerned with the development of the environment for financial technologies. 

[size=17]In this context, the Council stressed the importance of studying the proposal to establish a regulatory laboratory to encourage financial innovations, as a proposed new framework for cooperation and regional experiences among the supervisory authorities in the Arab region to encourage the establishment of financial technology companies and to promote capacity building in this area. The Council also called on Arab central banks to work to maximize the use of modern financial technologies.[/size]

The Council also welcomed the regional initiative to promote financial inclusion in the Arab region launched by the Arab Monetary Fund in cooperation with the World Bank, the Global Alliance for Financial Inclusion and the German Development Agency. 

The Council looked forward to the activities and activities of this initiative, stressing the importance of benefiting from technical solutions to enhance financial inclusion. In this context, the Council noted the model of statistical surveys of the demand for financial services prepared under this initiative. 

The Board discussed the follow-up of the implementation of the Arab Clearing System. The Council called for providing support and support to the efforts of the Arab Monetary Fund in completing the establishment of the institution and its services and activities, and enhancing opportunities for the participation of Arab banks and financial institutions and banking in the use of the system that will be managed by this institution, as the Council stressed, the application of the highest international standards and principles.      

The members of the Board reviewed the Financial Stability Report for 2019 and expressed their appreciation for the follow-up of the Arab Monetary Fund to prepare and issue the report, including the topics and analysis. The Council stressed the importance of the report continuously reflecting priority developments and issues for Arab countries.

The Board reviewed the draft of the unified Arab speech to be delivered on behalf of the Arab Group during the annual meetings of the IMF and the World Bank. 

Council members reiterated the importance of providing more financial support to Arab countries. They also reiterated their call for strengthening partnerships between international financial institutions and Arab funds and financial institutions.

Nominations ..




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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty The IMF confirms that the impact of the global economy on the Middle East is negative

Post by claud39 on Mon Sep 16, 2019 8:45 am

The IMF confirms that the impact of the global economy on the Middle East is negative




-16/09/2019





UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Rc_156861447231_23





Dr. Abdulrahman bin Abdullah Al Humaidi, Director General of the Arab Monetary Fund, said that the global economy is witnessing signs of weakness in 2019 due to the uncertainty resulting from the escalation of trade tensions between advanced economies and fears about the repercussions of the high levels of public debt, which reflected on Trade, investment and industrialization activities in developed economies and developing countries alike.

In a speech at the opening of the 43rd session of the Board of Governors of Central Banks and Arab Monetary Institutions, Abdul-Rahman bin Abdullah said that this in turn reflected on the expectation that growth rates of the global economy will decline to about 3.0 percent in 2019 and advanced economies. To 1.9 percent, emerging economies and developing countries to 4.1 percent.

To overcome this, Al-Humaidi pointed out the importance of pursuing coordination efforts to resolve trade disputes and return to the umbrella of the multilateral trading system, and work to strengthen the policy space by continuing to adopt disciplined monetary and financial policies and supportive of growth to strengthen the ability of countries in the face of any potential shocks, as well as the implementation of structural reforms To support productivity and competitiveness, increase the efficiency of labor markets and products and encourage innovation.

He stressed that these developments will have important repercussions on the Arab economies during the coming period, noting that the expected decline in the growth of international trade volume will be reflected on the levels of external demand, which contributes about 43 percent of the GDP of the Arab countries as a group, especially the expected slowdown of the economies of the two countries. 


Asia and the EU account for about 56 percent of total Arab exports. He also pointed out that the slowing levels of global demand for oil in light of the continued abundance of supply would put pressure on world oil prices, which will reflect on the economies of Arab countries.

He said that the decline of global central banks to return to the traditional paths of monetary policy, under the impact of slowing economic activity, is an opportunity for Arab economies to adopt monetary policies favorable to growth in countries with fixed exchange rate systems, and relieve pressure on the currencies of Arab countries that adopt flexible exchange rate systems.

He pointed to the estimates of the Arab Monetary Fund, which expects Arab countries to achieve a growth rate of 2.5 percent from 2019, compared to a rate of about 2.2 percent in 2018.

He also estimated that the rate is expected to rise to around 3.0 percent in 2020, reflecting the projected relative recovery of the global economy. 


The positive effects of economic reform programs, macroeconomic policy reforms, and structural reforms to stimulate economic activity and diversify the production and export base continue, pointing to the need for Arab countries to achieve growth rates exceeding 5.0 percent to achieve a tangible reduction in unemployment rates, which reached in the Arab countries towards 10 percent in 2018, double the global average of five percent.

He pointed to the wide attention paid by the Arab Monetary Fund to the issues of supporting small and medium enterprises, enhancing financial inclusion and upgrading the opportunities to take advantage of modern financial technologies to encourage financial innovations and stimulate the incubator environment for startups and small and medium enterprises, and support opportunities for partnership between the public and private sectors, and work to support the development of tools And local funding channels.





http://www.uabonline.org/en/news/arabicnews/15891606158316081602157516041606160215831575160415/67773/0
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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty Participation in the meeting of the Board of Governors of Central Banks ..

Post by claud39 on Mon Sep 16, 2019 8:48 am

Participation in the meeting of the Board of Governors of Central Banks ..




16/09/2019





UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Rc_156861479482_23





The Governor of the Banque du Liban Riad Salameh participated in the 43rd Ordinary Session of the Board of Governors of Central Banks and Arab Monetary Institutions held in Cairo yesterday.

The agenda of this session included fifteen items, which were discussed by the co-sponsors and some Governors made interventions on the pressing topics related to these items.

The Governor of the Banque du Liban made an intervention on the latest international monetary, financial and economic developments and their repercussions on the Arab countries, especially in light of the escalation of trade and geopolitical tensions. Mainly in their resources to raw materials. 


In his intervention, Salameh pointed to a reduction in the outlook for global growth according to the International Monetary Fund, but the trend of global central banks to reduce interest rates will reflect a recovery in the economies of the countries of the region and Lebanon, especially in terms of high volume of liquidity.


 He concluded that the achievement of the desired reforms will give our economy a factor of confidence to rise again and turn the economic wheel and revive the private sector as confidence is the basis of the economy.

It should be noted that these annual meetings of central banks and Arab monetary institutions at the level of governors have been held since 1972, has been agreed between the governors gentlemen since 1978 to hold annual meetings for them within the framework of a board called the Board of Governors of central banks and Arab monetary institutions, and under the umbrella of the League of Arab States .

The annual meetings of the Council include the discussion of the draft unified Arab economic report prepared by Arab financial institutions on the annual economic developments in the Arab countries, and the draft unified Arab speech, which is presented annually on behalf of the Arab Group in the annual meetings of the IMF and the World Bank, in addition to reviewing the report and recommendations of the Arab Monitoring Committee The report of the Arab Committee for Payment and Settlement Systems. 


There is also a permanent item on the agenda, which is the exchange of experiences and experiences between Arab central banks, where the experiences of some Arab central banks on topics and issues related to the work of central banks are reviewed. The annual meetings also represent an opportunity to discuss regional and international economic and banking developments.

The Arab Fund for Economic and Social Development, the Union of Arab Banks, the Union of Arab Securities Commissions and the Arab Executive Directors of the International Monetary Fund and the World Bank attend the meetings as observers.







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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty HIS EXCELLENCY DR. ABDULRAHMAN BIN ABDULLAH AL HUMAIDI, DIRECTOR GENERAL OF THE BOARD OF DIRECTORS OF THE ARAB MONETARY FUND, DELIVERED A SPEECH AT THE OPENING OF THE 43RD SESSION OF THE BOARD OF GOVERNORS OF CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS

Post by claud39 on Mon Sep 16, 2019 12:16 pm

HIS EXCELLENCY DR. ABDULRAHMAN BIN ABDULLAH AL HUMAIDI, DIRECTOR GENERAL OF THE BOARD OF DIRECTORS OF THE ARAB MONETARY FUND, DELIVERED A SPEECH AT THE OPENING OF THE 43RD SESSION OF THE BOARD OF GOVERNORS OF CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS


UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS ZIC_8343%20%28Large%29










5 . 2 % the expected growth rate of Arab economies for 2019

The importance of focusing on supporting SMEs and financial inclusion

Commending the role of central banks and Arab monetary institutions in maintaining the integrity of the banking sector and enhancing financial stability

17.0 per cent capital coverage of risk-weighted assets of Arab banks  

The need to address the repercussions of the high levels of global debt that has now reached

225 per cent of global GDP

September 15, 2019

Cairo - Arab Republic of Egypt



 

His Excellency Dr. Abdulrahman bin Abdullah Al Humaidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, delivered a speech at the opening of the 43rd session of the Board of Governors of Central Banks and Arab Monetary Institutions. The meeting was attended by Governors of Central Banks and Arab Monetary Institutions and a number of senior officials of the International Monetary Fund. The meeting was also attended by the Arab League, the General Secretariat of the Gulf Cooperation Council, the Union of Arab Banks, the Federation of Arab Securities Commissions, the Financial Action Group for the Middle East and North Africa, as well as the Arab executives of the IMF and the World Bank.




In his speech, HE pointed out that the global economy is witnessing signs of weakness in 2019, affected by uncertainty resulting from the escalation of trade tensions between advanced economies and concerns about the implications of the high levels of public debt, which reflected on the activities of trade, investment and industrialization in developed economies and developing countries Both, in turn, reflected in the projected growth rates for the global economy from 2019 to about 3.0 percent, for advanced economies to 1.9 percent, and for emerging economies and developing countries to 4.1 percent.To overcome this, HE Al Humaidi pointed out the importance of pursuing coordination efforts to resolve trade disputes, return to the umbrella of the multilateral trading system, and work to strengthen the policy space by continuing to adopt disciplined monetary and financial policies and supportive of growth to strengthen the ability of countries in the face of any potential shocks, in addition to the implementation Structural reforms to support productivity and competitiveness, increase the efficiency of labor and product markets and encourage innovation.




 In the same context, His Excellency the Director General and Chairman of the Board of Directors of the Arab Monetary Fund that these developments will have important repercussions on the Arab economies in the coming period, noting that the expected decline in the growth of international trade volume will be reflected on the levels of external demand, which contributes about 43 per cent of output Arab countries as a group, especially the expected slowdown of the economies of the Asian and European Union countries, which absorb about 56% of total Arab exports. He also pointed out that the slowing levels of global demand for oil in light of the continued abundance of supply would put pressure on world oil prices, which will reflect on the economies of Arab countries.




On the other hand, HE Al Humaidi stressed that the retreat of global central banks from returning to the traditional paths of monetary policy, under the influence of slowing economic activity, represents an opportunity for Arab economies to adopt favorable monetary policies for growth in countries with fixed exchange rates, and relieve pressure on the currencies of Arab countries. Adopts flexible exchange rate systems.




In another context, HE Al-Humaidi warned of the increasing increase in global debt levels, which currently amount to about 225% of the global GDP, which would enhance the fragility of financial markets, noting in this context that the risk of increasing global debt at the time The current trend is the unprecedented rise in the indebtedness of the family and corporate sectors and the decline in the quality of private debt. As for the Arab countries, His Excellency pointed out that the challenge of increasing indebtedness rates is one of the most prominent challenges facing the Arab economies in light of the recent rise in public debt rates, where the total public debt of the Arab countries amounted to about 126% of the GDP of Arab countries. Borrowed.




On the other hand, HE Al-Humaidi pointed out that the Arab Monetary Fund estimates that the Arab countries combined achieved a growth rate of 2.5% from 2019, compared to a rate of about 2.2% from 2018. Reflecting the expected relative recovery of the global economy, the positive effects of economic reform programs, macroeconomic policy reforms, and structural reforms to stimulate economic activity and diversify the production and export base, reflecting the need for Arab countries to achieve a rate Growth exceeding 5%. Achieving a significant reduction in unemployment rates, which in the Arab countries averaged about 10 percent in 2018, double the global rate of 5 percent, which requires continued economic reforms and a policy orientation towards pursuing structural diversification efforts.

 The role of the financial and banking sector in providing local finance, developing financial services, products and innovations, raising financial inclusion levels, and continuing to adopt structural and institutional reforms aimed at enhancing Ajah and competitiveness of Arab countries.




On the other hand, His Excellency the Director General pointed out the wide attention paid by the Arab Monetary Fund in matters of supporting SMEs, enhancing financial inclusion and upgrading the opportunities to benefit from modern financial technologies to encourage financial innovations and stimulate the incubator environment for startups and small and medium enterprises, and support opportunities Partnership between the public and private sectors, and work to support the development of local financing instruments and channels, indicating in this context that these topics are key themes in the work and activities of committees and task forces of the Board of Governors of Central Banks and Arab Monetary Funds in recent years, and they constitute the main pillars of the Fund's next strategy for the period 2020-2025, citing examples of the Fund's endeavors and efforts in this context such as the initiative to promote financial inclusion in the Arab region, the working group of modern financial technologies, the initiative to develop local finance markets, and facilitate Small Projects

On the other hand, HE Al-Humaidi praised the efforts exerted by the central banks and Arab monetary institutions to maintain financial stability and support the safety and durability of the banking sector and its ability to cope with shocks and enhance its efficiency in financing economic activity. Implementation of capital requirements in accordance with Basel III requirements.




The average capital adequacy ratio for Arab countries was 17.0 per cent at the end of 2018, according to the Financial Stability Report 2019, higher than the Basel III level.Arab Central Banks have adopted all efforts to successfully implement quantitative and qualitative liquidity requirements, with a liquid assets ratio of 27.8 per cent at the end of 2018. HE Al Humaidi praised the efforts of Arab Central Banks and Monetary Institutions.

 Efforts, activities and events during the Arab Financial Inclusion Day last April, which contributed to raising awareness and awareness of the issues of financial inclusion in the Arab region, and enhanced the opportunities for communication and coordination with various parties and entities involved in financial inclusion, including financial institutions, banking and community organizations. Madani and the media are looking forward to collaborating with everyone in preparing for next year's 2020 events.




In another context, HE Al-Humaidi referred to the establishment of the Arab Corporation for Clearing and Settlement of Arab Payments. The Foundation shall contribute to the promotion and development of inter-Arab activities, transfers and trade exchanges, while at the same time encouraging and providing the opportunity to use tradable Arab currencies in clearing and settling Arab transactions and enhancing economic ties. With the Co-trading partners for the Arab States.




In conclusion, His Excellency Dr. Al-Hamidi praised the President, Government and people of Egypt for hosting the meeting, and His Excellency Dr. Mostafa Madbouly for his generous patronage of the meeting, and HE Tarek Amer for his cooperation in preparing for the meeting and providing the requirements for its success, while praising the efforts of the UAE The headquarters of the Fund for the care and great support it provides as the headquarters of the Arab Monetary Fund, which undoubtedly contributes to the performance of the Fund assigned to it. The Director General thanked the Governors of the Central Banks and the Arab Monetary Institutions for their support to the Fund and the activities of the Board.

 

[url=https://www.amf.org.ae/sites/default/files/%D9%83%D9%84%D9%85%D8%A9 %D8%A7%D9%84%D9%85%D8%AF%D9%8A%D8%B1 %D8%A7%D9%84%D8%B9%D8%A7%D9%85 %D9%81%D9%8A %D8%A7%D9%84%D8%AC%D9%84%D8%B3%D8%A9 %D8%A7%D9%84%D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD%D9%8A%D8%A9 %D9%84%D9%85%D8%AC%D9%84%D8%B3 %D9%85%D8%AD%D8%A7%D9%81%D8%B8%D9%8A %D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A%D8%A9- %D9%85%D8%B3%D9%88.._.pdf](Text)[/url]







[url=https://www.amf.org.ae/sites/default/files/%D9%83%D9%84%D9%85%D8%A9 %D8%A7%D9%84%D9%85%D8%AF%D9%8A%D8%B1 %D8%A7%D9%84%D8%B9%D8%A7%D9%85 %D9%81%D9%8A %D8%A7%D9%84%D8%AC%D9%84%D8%B3%D8%A9 %D8%A7%D9%84%D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD%D9%8A%D8%A9 %D9%84%D9%85%D8%AC%D9%84%D8%B3 %D9%85%D8%AD%D8%A7%D9%81%D8%B8%D9%8A %D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A%D8%A9- %D9%85%D8%B3%D9%88.._.pdf]https://www.amf.org.ae/sites/default/files/%D9%83%D9%84%D9%85%D8%A9%20%D8%A7%D9%84%D9%85%D8%AF%D9%8A%D8%B1%20%D8%A7%D9%84%D8%B9%D8%A7%D9%85%20%D9%81%D9%8A%20%D8%A7%D9%84%D8%AC%D9%84%D8%B3%D8%A9%20%D8%A7%D9%84%D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD%D9%8A%D8%A9%20%D9%84%D9%85%D8%AC%D9%84%D8%B3%20%D9%85%D8%AD%D8%A7%D9%81%D8%B8%D9%8A%20%D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83%20%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A%D8%A9-%20%D9%85%D8%B3%D9%88.._.pdf[/url]




UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS ZIC_8276%20%28Large%29




UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS POP_8066%20%28Large%29










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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty Re: UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS

Post by claud39 on Mon Sep 16, 2019 12:27 pm

HIS EXCELLENCY DR. ABDULRAHMAN BIN ABDULLAH AL HUMAIDI, DIRECTOR GENERAL OF THE BOARD OF DIRECTORS OF THE ARAB MONETARY FUND, DELIVERED A SPEECH AT THE OPENING OF THE 43RD SESSION OF THE BOARD OF GOVERNORS OF CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS
2019-09-16





UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS ZIC_8343%20%28Large%29






[url=https://www.amf.org.ae/sites/default/files/%D9%83%D9%84%D9%85%D8%A9 %D8%A7%D9%84%D9%85%D8%AF%D9%8A%D8%B1 %D8%A7%D9%84%D8%B9%D8%A7%D9%85 %D9%81%D9%8A %D8%A7%D9%84%D8%AC%D9%84%D8%B3%D8%A9 %D8%A7%D9%84%D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD%D9%8A%D8%A9 %D9%84%D9%85%D8%AC%D9%84%D8%B3 %D9%85%D8%AD%D8%A7%D9%81%D8%B8%D9%8A %D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A%D8%A9- %D9%85%D8%B3%D9%88.._.pdf](Text)[/url]




a word
His Excellency Dr. Abdulrahman bin Abdullah Al Humaidi
General Manager Chairman of the Board of Directors
Arab Monetary Fund
At the opening
Meeting of the forty-third session
The Board of Governors of Central Banks and Arab Monetary Institutions
Cairo - Arab Republic of Egypt
September 15, 2019




HE Dr. Mostafa Madbouly, Prime Minister,
His Excellency Tarek Amer, Governor of the Central Bank of Egypt,
His Excellency Dr. Ziad Fariz, Governor of the Central Bank of Jordan
Excellencies, Excellencies,
Ladies and Gentlemen,
Good morning,
I am delighted to speak to you on the occasion of the annual meeting of the third session
The 40th session of the Board of Governors of Central Banks and Arab Monetary Institutions. I like at the beginning
I would like to extend my sincere thanks and gratitude to the Arab Republic of Egypt, the President, the Government and the people
To host this important Arab Economic and Banking Forum. Express as sincere
The gratitude and gratitude of HE Dr. Mostafa Madbouly, Prime Minister for his kind patronage
Meeting. Of course, on this occasion, I would like to extend my sincere appreciation to His Excellency Tariq Amer
The Governor of the Central Bank of Egypt for his generous initiative in inviting to host the meeting
And for his solemn contributions to the work of the Board, thanks are extended to his colleagues in the Bank for their cooperation
And their efforts in preparing and organizing to ensure the success of this important meeting.
Your Excellencies,
Dear Brothers and Sisters,
The global economy is showing signs of weakness in 2019, driven by a lack of confidence
Rising trade tensions between developed economies and concerns about the implications of the rise
The increase in public debt levels is reflected in trade and investment activities
And industrialization in both developed and developing economies. Growth rate is estimated to decline
Estimates of some international institutions. The global economy is estimated to be about 0.3 percent, according to the report
The growth rate of developed economies should decline to about 9.1 per cent and the rate of growth of economies
Emerging and developing countries to about 1.4 percent from 2019.


It is no secret that the slowdown in global growth contributes to the weakening of the estimated international trade volume
At its lowest level since the global financial crisis, it reflects a declining rate
China's estimated import volume growth to about 2.3 percent in 2019, less than
Half of what it was over the past two years 2017 and 2018, averaging
About 5.7%. As you know, China's slowing aggregate demand will reflect growth
Global economy, international trade and financial markets in light of the size and relevance of the Chinese economy
It is estimated that this will increase the investment risk premium
And the volatility of financial markets.
In this context, the global economy faces a range of existing and emerging risks
Trade tensions and their potential impacts on business growth have also been noted
Global trade, and international trade and its implications for household and corporate budgets
Especially in light of the unprecedented high levels of indebtedness, which may result in fluctuations
Tangible asset prices and capital movements and thus potential market shocks
Finance. Unlike before the onset of the global financial crisis, there are not many mechanisms
Rescue packages that can be relied upon to minimize the potential impact of any future crises
The decline in core interest rates in developed economies to near zero levels
On the one hand, declining fiscal space in many countries on the other.
Doubt that the solutions are to pursue coordination efforts to resolve trade disputes, and return to the umbrella
The multilateral trading system, and its mechanisms for liberalizing international trade
Interests of all countries. It also requires strengthening policy space by continuing to adopt
Disciplined and pro-growth monetary and fiscal policies to enhance the resilience of countries around the world
Potential shocks. It also highlights the importance of implementing structural reforms to support productivity, competitiveness and increase

Efficient labor markets and products and promote innovation.




Your Excellencies,
Dear Brothers and Sisters,
These developments will undoubtedly have important repercussions on the Arab economies during the year
next period. On the one hand, the decline in the growth of international trade volume is expected to be reflected in
Levels of external demand, which contributes about 43 percent of the country's GDP
Arab countries as a group, especially with regard to the expected impact of the slowdown in the economies of the two groups of countries
Asia and the European Union, which account for about 56 per cent of Arab exports
Total.
On the other hand, the slowing levels of demand for oil in light of the continued abundance
World oil prices, and their reflection on supply economies, have put pressure on oil prices
Arab countries in terms of exports and oil revenues, despite their low importance
Relative to about 36 per cent and about 56 per cent of total exports and revenues
Respectively, compared to a level of approximately 70 percent of total export earnings and revenues before
World oil prices fell by the end of 2014, but remain a key factor
Impact on levels of public expenditure, bank liquidity, credit granted, and investments
Oil-exporting countries. Implemented in
English
In contrast, the retreat of global central banks from a return to the traditional paths of policy
Under the influence of a slowdown in economic activity, monetary opportunities are an opportunity for Arab economies to adopt policies
Monetary policy favorable to growth in countries with fixed exchange rate regimes and easing currency pressures
Arab countries with flexible exchange rate regimes.
Currently in addition to the above, the growing increase in global debt levels has arrived
225 per cent of global GDP, reinforces the fragility of market conditions
Finance. The risk of increasing global indebtedness is now unprecedented
Indebtedness of the family and corporate sectors, and in the decline in the quality of private debt
This portends an escalation of financial risks.


For our Arab countries, the challenge of increasing indebtedness in particular is one of
One of the most prominent challenges facing our Arab economies in light of the high levels of debt
The total debt of the Arab countries reached about 126 percent of the total
GDP of Arab borrowing countries. Local indebtedness indicators have also surpassed
And external levels are sustainable in a number of Arab countries, highlighting the importance
Contain the paths of public debt and ensure that it moves at sustainable levels.
Your Excellencies,
Dear Brothers and Sisters,
The Arab Monetary Fund estimates that Arab countries will achieve a growth rate of 5.2 per cent
The rate is estimated to rise by 2.2 percent from 2018
Reflecting the expected relative recovery of the economy to about 0.3 percent during the coming year 2020,
Global economic reforms, and the positive effects of economic reform programs and policy reforms
Macroeconomic reforms, and structural reforms to stimulate economic activity and diversify the production base
And export.
It is no secret that our Arab countries need to raise growth rates to five levels
To a significant reduction in unemployment rates, as you know that the level of unemployment
Rising is one of the most important economic challenges facing our Arab countries
Arab countries 10 percent in 2018, double the global average of 5 percent.
Arab youth unemployment, at 30 per cent, also rises to 38 per cent
Young females, the highest in the world. Of course, further adoption is needed
Economic reforms and policy focus to pursue efforts to diversify economic structures,
The shift towards knowledge economies and applications of modern technologies. for example,
It is estimated that Arab countries could gain about $ 320 billion by

2030 AI applications.




Increased levels of women's participation in the labor force, productivity and productivity should be increased
Competitiveness, as well as upgrading human capital by focusing on improving services
Education and Health. Most Arab countries rank in the third quarter
And fourth in the World Bank's Human Capital Index. It is also related to strengthening the role of the sector
Financial and banking in providing local finance and developing services, products and innovations
And raise financial inclusion levels.
In this context, structural and institutional reforms aimed at strengthening the need to continue to be adopted
Productivity and competitiveness of Arab countries. While some Arab countries have
The past years of improving the business environment and encouraging the role of the private sector in creating value
Policies and policies are still needed to ensure an environment
For the private sector, focus on increasing Aso flexibility levels
More appropriate and encouraging work
Products to enhance productivity and competitiveness, and to support and
Public and private sectors. In this context, greater emphasis should be placed on adoption
Institutional reforms aimed at creating an enabling environment for the growth of private sector activities to reduce costs
Transactions, simplifying and facilitating start-up procedures, protecting property rights, and enforcing them
Contracts, competition protection.
In this context, the importance of continuing and deepening efforts to support the small business sector is also underlined
Financial services, whereas in terms of access to finance
At times of relatively high levels, the allocation of financial resources to these projects remains
Projects are unable to access these resources. As required
You know to continue to develop legislation and regulations, improve financial infrastructure and encourage opportunities
Innovation in financial services and tools, as well as promoting the use of modern financial technologies
Contributes to the development of services and products of financial and banking institutions directed to this sector.
Perhaps tomorrow's workshop will shed light on many themes and proposals.


Your Excellencies,
Dear Brothers and Sisters,
Recently, the followers of the activities of the Arab Monetary Fund (AMF) note the wide interest in the Arab Monetary Fund
Supporting SMEs, enhancing financial inclusion and improving opportunities
Utilize modern financial technologies to encourage financial innovations and stimulate an incubating environment
For startups and SMEs, support partnership opportunities between the two sectors
Public and private, working to support the development of domestic financing tools and channels.
On the one hand, as you know, these themes are central to the work and activities of committees and teams
They are also the main pillars of the work of your esteemed council in recent years. as well as
This is important for IFAD's next strategy for the period 2020-2025
Financial sector partnership
And its role as a locomotive and for economic growth and sustainable development. Perhaps the promotion initiative
Financial Inclusion in the Arab Region, Modern Financial Technologies Working Group, and Tatweer Initiative
Domestic financing markets, and SME facilitation, are examples and examples of
IFAD's endeavors in this context.
We believe there is considerable scope for financial and banking institutions in our Arab countries to benefit
One of the potential opportunities is the funding gap for microenterprises
SMEs in the Arab region are estimated at 3.7 times the amount of funding provided
Projects, against a funding gap estimated at 5.1 times the amount of funding provided
Projects worldwide.
Your Excellencies
Dear brothers and sisters
Perhaps it is a good occasion to pay tribute to what the central banks and Arab monetary institutions are doing

Concrete efforts to maintain financial stability and support the safety and durability of the banking sector




On the one hand, and to enhance its efficiency in financing economic activity
Other.
According to the Arab Countries Financial Stability Report 2019,
Arab countries have made remarkable progress and most countries have been able to implement capital requirements
to
In accordance with Basel III requirements, the capital coverage ratio for risk-weighted assets
To an average of 0.17 per cent at the level of Arab countries by the end of 2018
The bulk of the capital consists of shareholders' equity, which means a solid base
Capitalism of banks in a number of Arab countries. Although the Financial Stability Report,
Reflecting the rise in the non-performing facilities ratio to 8.6%, however, the increase came
To apply the IFRS9 accounting standard.
On the other hand, the Arab central banks have adopted all the necessary efforts
With the successful application of quantitative and qualitative liquidity requirements, a coverage ratio has been implemented
Liquidity in accordance with the gradual timeframe adopted by Basel in a number of Arab countries
Although there are some challenges in this regard. The ratio of liquid assets to
At the end of 2018, the total assets stood at 8.27 per cent for stabilization report data
Fiscal Year 2019.
In this context, Arab central banks have sought to support the banking sector to overcome
To address these challenges by continuing to develop capital markets and provide liquidity instruments
Which enable banks to meet these ratios and overcome the technical difficulties facing banks
Through the supervisory role of these banks to help them meet the requirements of liquidity.
On this occasion, let me also pay tribute to what the central banks and institutions have done
Arab Monetary Efforts, Activities and Events during the Arab Financial Inclusion Day in April
The past held under the name of "financial inclusion towards sustainable development", undoubtedly contributed to
Raising awareness and awareness of financial inclusion issues in the Arab region. She also highlighted the role
Leading by the central banks and Arab monetary institutions in this regard. I have strengthened


The activities of the Arab Financial Inclusion Day are opportunities for communication and coordination with various parties
Financial inclusion, financial and banking institutions and civil society organizations
And media, within the framework of joint Arab collective efforts and efforts to raise awareness of inclusion
Finance in the Arab Region. We look forward to cooperating with everyone in preparing for next year's events
2020, which highlights the policies and efforts of our Arab countries in this field.
Your Excellencies,
Dear Brothers and Sisters,
On this occasion, I would like to mention the project of establishing a regional institution for clearing and settlement
Arab payments, where the Arab Monetary Fund intensifies its efforts towards the establishment and initiation of the institution
For their services, thanks to the support of their Excellencies the Governors of Central Banks and Institutions
Arabic criticism. The establishment of this institution will, as you know, contribute to the promotion and development of activities
Inter-Arab trade and investment exchanges, while at the same time
Encourage and provide the opportunity to use tradable Arab currencies for clearing and settlement
Arab Transactions. It is also estimated that this institution will contribute to enhancing opportunities for networking with partners
Trade opportunities of Arab countries, thereby enhancing opportunities for strengthening trade relations
Investment with these partners in particular and the global economy in general.
I wish to reiterate here, as we work to complete the steps to establish this regulatory entity
As soon as possible, we are keen to benefit the institution to start providing services
Of modern financial technologies and opportunities to offer innovative value-added products
We are working to establish sound governance and full compliance
International standards and principles.


Your Excellencies,
Dear Brothers and Sisters,
To the President of the Arab Republic of Egypt in conclusion, I renew my gratitude
And government and people to host
Meeting. I also renew my thanks and appreciation to the Prime Minister, Dr. Mostafa Madbouly
His Excellency Tariq Amer, the Governor of the Bank, has renewed our gratitude
Central Bank for its cooperation and colleagues in the bank in the preparation of the meeting and the provision of supplies
His success. I would also like to thank the UAE for this occasion
The IMF headquarters has great care and support as a state IMF headquarters
Arab Fund, which undoubtedly contributes to the Fund's tasks.
Finally, I would also like to thank His Excellency the Governors of the Central Banks
And the Arab Monetary Institutions for their continued support to the Fund and the activities of the distinguished Council, wishing
Our meeting today is all success.
Peace, mercy and blessings of God be upon you.

J / b / a / zm






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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty THE ARAB MONETARY FUND ISSUES A BOOK ON "PROMOTING MICRO, SMALL AND MEDIUM ENTERPRISES IN THE ARAB COUNTRIES" DURING THE HIGH-LEVEL WORKSHOP ON "ENHANCING FINANCIAL INCLUSION AND DEVELOPING SMES IN THE ARAB COUNTRIES"

Post by claud39 on Mon Sep 16, 2019 12:32 pm

THE ARAB MONETARY FUND ISSUES A BOOK ON "PROMOTING MICRO, SMALL AND MEDIUM ENTERPRISES IN THE ARAB COUNTRIES" DURING THE HIGH-LEVEL WORKSHOP ON "ENHANCING FINANCIAL INCLUSION AND DEVELOPING SMES IN THE ARAB COUNTRIES"
2019-09-16



UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Logo-ar








The book sheds light on the legal and regulatory frameworks of the sector, and its access to finance, and highlights best practices to support the sector in the Arab countries

Micro, small and medium enterprises contribute about 45 percent of GDP and 25 percent of employment in the formal sector in Arab countries

The sector establishments face challenges related to the weak access to finance, where the bank credit granted to the sector does not exceed 9% of the total credit facilities.

The efforts of central banks and Arab monetary institutions have helped to increase banking facilities to the sector by rates ranging between 5 to 36 per cent during the past two years in some Arab countries

 



The Arab Monetary Fund (IMF) today published a book on the promotion of micro, small and medium enterprises in the Arab countries as part of the high-level workshop on "Enhancing Financial Inclusion and Developing Small and Medium Enterprises in the Arab Countries" organized by the Arab Monetary Fund in cooperation with the International Monetary Fund Egypt on Monday, 16 September 2019 in the presence of the Governors of the Central Banks and Arab Monetary Institutions, representatives of the authorities and institutions concerned with the promotion of the sector of micro, small and medium enterprises and a number of experts in this field.




The book comes in response to the priorities of member countries to identify a number of important aspects related to this sector, including: the economic role of micro, small and medium enterprises in the Arab countries, and the structure of these projects, and the legal and regulatory environment in which they operate, and their access to bank and non-bank financing, And the nature of government initiatives adopted to strengthen and strengthen the role of this sector in generating output and job creation, and to explore the future prospects of this vital sector in the Arab countries.




The book sheds more light on government efforts to promote micro, small and medium enterprises with a view to extracting best practices in this regard. The book is based on the results of a questionnaire prepared by the Arab Monetary Fund for this purpose, and was completed by the specialists in the Arab official bodies concerned with the advancement of the sector of micro, small and medium enterprises during the first half of 2019.




In this context, the book pointed out that the role of micro, small and medium enterprises in supporting growth and employment had grown significantly by the seventies of the last century, as a result of a number of notable global shifts that would make a qualitative change in the structure of production of goods and services in developed countries and developing towards more reliance on inputs provided by these projects, which strengthened its economic role as a key in global supply networks supply Chains)  ( the global .




The most prominent of these shifts in the emergence of new production methods less expensive, and more flexible as a result of the trend towards the globalization of labor and product markets, and the spread of "outsourcing" methods (Business Outsourcing) from large projects to micro - enterprises and small and medium - sized. The rise in the number of young people seeking work in many countries and the emergence of a culture of entrepreneurship have supported the trend towards establishing a large number of micro, small and medium enterprises.




Many Arab countries are counting on promoting micro, small and medium enterprises as a locomotive for economic development due to their pivotal role in providing job opportunities and reducing unemployment rates, especially among youth and females, which rise in Arab countries to more than double the global average. The advancement of this sector will also increase levels of economic diversification, integrate the chains of production of goods and services, and improve the competitiveness of national economies.




The book pointed out that micro, small and medium enterprises represent between 90 and 99% of the total projects in the formal sector in the Arab countries, and contribute to varying proportions of GDP ranging between 22 and 80%. It also contributes about 10 to 49 per cent of employment opportunities in the formal sector in the Arab States, which is lower than the average of 60 per cent of developing countries, highlighting the challenges facing the sector, especially the difficulty of access to finance, especially with regard to bank financing where Banking facilities granted to the sector exceed 9 per cent of total banking facilities, compared to 16 per cent for the corresponding average in middle-income countries.




Accordingly, the central banks and Arab monetary institutions have sought to adopt a number of measures and policies aimed at encouraging banks to provide more loans to micro, small and medium enterprises, and provide the structure of the financial sector aimed at reducing the risks associated with this type of loans through the establishment of micro-credit guarantee systems SMEs, credit information systems, movable asset records, and the development of bankruptcy systems have contributed to the growth of banking facilities directed at these projects by rates ranging between 5 to 36 per cent over the past two years in some Arab countries.




The economic and developmental role of micro, small and medium enterprises is largely dependent on the existence of two main requirements: a supportive business environment and access to finance. Accordingly, As part of the Arab Monetary Fund to support the efforts of member countries aimed at achieving a comprehensive and sustainable growth, the fund focuses particularly in the context of the current five - year strategy ( 2015 - 2020Development of SMEs and increased levels of financial inclusion in the Arab region. 

The Fund has adopted several initiatives and programs aimed at promoting SMEs. In 2016, the Fund launched the Facilitation of an “Enabling Environment for SMEs” with the aim of supporting reforms aimed at promoting the sector in collaboration with stakeholders in member countries. In addition, as part of its efforts to support financial inclusion in the Arab region as a primary objective to promote economic growth, the Fund launched the Regional Initiative to Enhance Financial Inclusion in the Arab States in 2017. The initiative aims to support SME access to finance.




The full version of the book is available at the following link:





 

/[term]/[language]/%D8%A7%D9%84%D9%86%D9%87%D9%88%D8%B6 %D8%A8%D8%A7%D9%84%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D8%AA %D9%85%D8%AA%D9%86%D8%A7%D9%87%D9%8A%D8%A9 %D8%A7%D9%84%D8%B5%D8%BA%D8%B1 %D9%88%D8%A7%D9%84%D8%B5%D8%BA%D9%8A%D8%B1%D8%A9 %D9%88%D8%A7%D9%84%D9%85%D8%AA%D9%88%D8%B3%D8%B7%D8%A9 %D9%81%D9%8A %D8%A7%D9%84%D8%AF%D9%88%D9%84 %D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9.pdf]https://www.amf.org.ae/sites/default/files/research_and_publications/%5Bvocab%5D/%5Bterm%5D/%5Blanguage%5D/%D8%A7%D9%84%D9%86%D9%87%D9%88%D8%B6%20%D8%A8%D8%A7%D9%84%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D8%AA%20%D9%85%D8%AA%D9%86%D8%A7%D9%87%D9%8A%D8%A9%20%D8%A7%D9%84%D8%B5%D8%BA%D8%B1%20%D9%88%D8%A7%D9%84%D8%B5%D8%BA%D9%8A%D8%B1%D8%A9%20%D9%88%D8%A7%D9%84%D9%85%D8%AA%D9%88%D8%B3%D8%B7%D8%A9%20%D9%81%D9%8A%20%D8%A7%D9%84%D8%AF%D9%88%D9%84%20%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9.pdf







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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty Alak: Central Bank reserves exceed international standards

Post by claud39 on Tue Sep 17, 2019 7:28 am

 Alak: les réserves de la banque centrale dépassent les normes internationales

17/09/2019

UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS 17113




Nouvelles de l'économie _ Bagdad
Le gouverneur de la Banque centrale d'Irak, Ali Alaq, a déclaré mardi que le montant du déficit budgétaire pour 2020 n'était pas encore prouvé, comme l'a indiqué le ministère des Finances, et que ce qui circule n'est que des chiffres hypothétiques et non encore réglés, indiquant que la limite supérieure du déficit doit être compatible avec la nouvelle loi sur la gestion financière, soulignant en même temps que les réserves en devises de la banque centrale sont confortables et bien au-delà des normes internationales, et que la loi interdit l'utilisation de cette réserve pour gouvernement à combler le déficit budgétaire, mais il est utilisé pour stabiliser le taux de change et la vigueur de la monnaie locale

"Nos réserves en devises sont confortables, bonnes et conformes aux normes internationales", a déclaré Allaq dans une interview accordée au journal "Al-Sabah". Les banques centrales et les institutions monétaires arabes se sont tenues dimanche au Caire.
 Les ratios standard sont plus élevés, mais selon la loi, ils ne doivent pas couvrir le déficit, mais constituent une couverture pour la monnaie locale. La force du taux de change et la force du dinar irakien dépendent de cette couverture. Le processus de la couverture des réserves et des déficits est inappropriée et la loi sur la Banque centrale ne permet pas d’utiliser la réserve pour prêter The Pile directement ou indirectement, mais vise à maintenir la valeur du dinar par rapport au dollar. "

Et la relation selon laquelle "la stabilité du taux de change est un objectif central de la Banque centrale et cherche à atteindre par tous les moyens, et dépend principalement de la performance économique de l'Irak, plus l'économie était forte pour maintenir le taux de change plus fort, et notre économie est soumise aux fluctuations des prix du pétrole, qui sont une ressource. La base pour le pays, qui est également la base pour la devise étrangère, il est donc important de gérer avec prudence les réserves pour parvenir à la stabilité, là où il peut y avoir un équilibre entre l'offre et la demande de devises étrangères, et lorsque des perturbations de l'offre affectent le taux de change, et la réserve dont nous disposons jusqu'à présent. L'application couvre et permet donc de garder le prix sous contrôle. "

En ce qui concerne le relâchement des emplois au sein du gouvernement, Al-Allaq a déclaré: «L’appareil gouvernemental a dépassé la saturation et n’ajoute pas de valeur économique; au contraire, ses dépenses représentent un défi de taille pour le budget public et réduisent les ressources qui peuvent être utilisées pour employer d'autres personnes et créer davantage de possibilités d'emploi grâce à de vrais projets.
 La solution de base à la question du chômage est l’emploi des secteurs réels, à savoir le secteur industriel, l’agriculture, le tourisme, etc., qui sont à la base de la mutation des cercles économiques. Il faut donc se concentrer sur le déplacement de ces secteurs économiques en modifiant modèle économique qui existe en Irak aujourd’hui, le modèle actuel est qu’il provient du pétrole et qu’il en tire la majeure partie sous forme de salaires. Ces salaires se transforment en demande de biens et de marchandises importés.

Le gouverneur de la banque centrale, qui "ne peut pas être licencié, mais l'argent pris en salaires peut être investi en Irak grâce à l'expansion du secteur réel et cela occupera d'autres personnes, et cela dépend de la coordination des échanges, des investissements , harmoniser les politiques fiscale et douanière pour faire évoluer la situation en interne ".

Pour ce qui est de la réunion du Caire, Al-Allaq a déclaré: «Ces réunions sont régulières et périodiques, et puisque l’Iraq est membre du Fonds monétaire arabe, il assiste à ces réunions, où les réunions du Conseil donnent un aperçu de tous les développements avoir lieu dans les domaines financier, monétaire et économique du monde arabe, en particulier dans les circonstances qui font face à de grands défis économiques, des défis et des risques croissants liés à ces aspects, que nous fournissons des idées et des perceptions et comment nos pays peuvent faire face à ces défis, et analyser leurs effets et leur impact sur nos économies. 

Il a ajouté: «Nous discuterons également lors de la réunion des fonctions des banques centrales en termes de technologies et leurs effets, rapides et successifs, notamment en ce qui concerne le thème de la monnaie et de son utilisation, qui a évolué vers le numérique et le virtuel, et dans ce contexte également parler des objectifs qui évoluent fonctions des banques centrales pour atteindre rapidement la stabilité financière dans les circonstances, et pour réaliser le contrôle prudentiel pour les banques centrales vis-à-vis des établissements bancaires et des institutions financières ", a-t-il déclaré. a donné la priorité à cette réunion; nous avons organisé un atelier spécial sur l’élargissement de l’inclusion financière, à savoir les services bancaires L au plus grand nombre de citoyens et de segments différents et à la réalisation rapide de nombreux services. ”

Au sujet des relations entre la Banque centrale d'Irak et son homologue égyptien, Al-Allaq a souligné qu'elle était «très bonne et continue, et que nous avons de nombreux domaines de coopération. Nous considérons que la Banque centrale d'Egypte est un allié très proche. et la consultation et le degré de relation forte et nous en avons besoin pour renforcer nos capacités et pour la formation et la consultation. "

À propos de la réouverture de la banque Rafidain en Égypte, Al-Allaq a déclaré: «C’est un problème important que nous suivons depuis longtemps. La Banque centrale d'Égypte connaît l'importance de la banque Rafidain et nous assurons le suivi avec la partie égyptienne. ”
 




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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty The Central Bank participates in a workshop to support small and medium enterprises in Cairo

Post by claud39 on Tue Sep 17, 2019 7:32 am

The Central Bank participates in a workshop to support small and medium enterprises in Cairo


17/09/2019





UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS 17131





Economy News _ Baghdad

The Governor of the Central Bank of Iraq, Ali Mohsen Ismail, on Tuesday, participated in a high-level workshop in the Egyptian capital, Cairo, to support and finance small and medium enterprises in Arab countries, organized by the Central Bank of Egypt in cooperation with the Arab Monetary Fund.

He stressed the relationship in his speech during the workshop, according to a statement received by the Bank, "Economy News", the initiative of the Central Bank of Iraq for small and medium enterprises through various Iraqi banks through the allocation of 5 billion US dollars for this goal, the largest amount in the history of Iraq allocated to those types of projects . 

The governor said that the circumstances and factors that have been subjected to Iraq and was an influential cause in the social and economic situation, which forced the Central Bank of Iraq to take the initiative to get out of those crises suffered by the Iraqi people, and to set an example for the rest of the other institutions was attention to development issues And construction needed by the Iraqi people and their institutions.





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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty The Central Bank of Iraq participates in a workshop in Cairo to support small and medium enterprises

Post by claud39 on Tue Sep 17, 2019 7:36 am

The Central Bank of Iraq participates in a workshop in Cairo to support small and medium enterprises




September 17, 2019





UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Article-156870889599926








The Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail, participated in a high-level workshop in the Egyptian capital, Cairo, to support and finance small and medium enterprises in Arab countries, organized by the Central Bank of Egypt in cooperation with the Arab Monetary Fund .
 

He stressed the Governor in his speech on the initiative of the Central Bank of Iraq for small and medium enterprises through various Iraqi banks through the allocation of 5 billion US dollars for this goal, the largest amount in the history of Iraq allocated to those types of projects .
 

The Governor said that the circumstances and factors suffered by Iraq was an influential cause in the social and economic situation, which forced the Central Bank of Iraq to take the initiative to get out of those crises suffered by the Iraqi people, and to set an example for the rest of the other institutions was attention to development and construction issues that Needed by the Iraqi people and their institutions .
 

Central Bank of Iraq
information Office
2019/9/17






UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS File-156870898819661









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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty Cairo hosts a workshop to promote financial inclusion and the development of small and medium enterprises in the Arab world

Post by claud39 on Tue Sep 17, 2019 9:06 am

Cairo hosts a workshop to promote financial inclusion and the development of small and medium enterprises in the Arab world


-17/09/2019





UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Rc_156870142919_23







A high-level workshop on enhancing financial inclusion and developing SMEs in the Arab countries was held today in Cairo, organized by the Arab Monetary Fund in cooperation with the Central Bank of Egypt in the presence of representatives of SMEs, banks and Arab and international institutions in the public and private sectors.

The Governor of the Central Bank of Egypt, Tarek Amer, said in his speech during the workshop delivered on his behalf by the Deputy Governor of the Central Bank of Egypt, Lubna Hilal, that the workshop deals with several axes: The second is based on raising awareness and the culture of financial inclusion through launching several initiatives to reach the target groups and provide financial services at an appropriate cost and in a fair manner.

She explained that the third axis is to create a supportive environment, by supporting entrepreneurs and encouraging innovative projects and strengthening the local product, while the fourth axis is based on reliance on technology through the development of technological infrastructure necessary to support and stimulate the use of electronic payment methods and channels in order to transition to an economy Less reliant on cash and the creation of the Financial Technology Center to stimulate and support innovation in the delivery of digital financial services.

She praised the Arab Monetary Fund's continuous efforts to unify efforts to face the challenges faced by the banking sector at the level of Arab countries, which led to the formation of a working group from various Arab countries on issues of financial inclusion.







http://www.uabonline.org/en/news/arabicnews/15751604160215751607158515771578158715781590161016/67801/1
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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty «Arab central banks»: the development of legislation is necessary to face the risks of cryptocurrencies

Post by claud39 on Tue Sep 17, 2019 9:09 am

«Arab central banks»: the development of legislation is necessary to face the risks of cryptocurrencies




17/09/2019





UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Rc_156870273845_23







Governors of central banks and Arab monetary institutions stressed the importance of addressing the risks arising from the use of cryptocurrencies and the possible effects on monetary policies, and the importance of appropriate preparation for them, and building the capacity of central banks wishing to issue these types of cryptocurrencies and develop digital identity standards and principles of customer identification. And develop legislation and strengthen international coordination in the face of its risks.

The final statement of the Board of Governors of the Central Banks and Arab Monetary Institutions, hosted by the Central Bank of Egypt yesterday in Cairo, said that the Board reviewed the work and recommendations of its committees and task forces, namely the Arab Committee for Banking Supervision, the Regional Task Force for Promoting Financial Inclusion in the Arab States, and the Working Group. 


Financial stability, the Arab Commission for payment and settlement systems, and the Arab Commission for credit information, the Council also discussed a number of papers and topics worked on by the committees and teams'.

The Council called for supporting the efforts of the Arab Monetary Fund in completing the establishment of the institution and conducting its services and activities, and enhancing opportunities for the participation of Arab banks and financial institutions and banking in the use of the system to be managed by this institution, stressing the application of the highest international standards and principles.

The statement added that 'the members of the Board reviewed the financial stability report for 2019', expressing appreciation for the follow-up of the Arab Monetary Fund to prepare and issue the report and the content and analysis included.

The Council stressed the importance that the report should continuously reflect the priority developments and issues of the Arab countries.

The Board reviewed the draft of the unified Arab speech to be delivered on behalf of the Arab Group during the annual meetings of the IMF and the World Bank, where the members of the Council reaffirmed the importance of providing more financial support to Arab countries, as well as reiterated their call to strengthen partnerships between international financial institutions and Arab funds and financial institutions.

He welcomed the establishment of the Group of Modern Financial Technologies, for its importance as a platform that brings together the most important parties and parties concerned with the development of the environment that embraces financial technologies.

He stressed the importance of studying the proposal to establish a regulatory laboratory to encourage financial innovations, as a proposed new framework for cooperation and regional experiences among the supervisory authorities in the Arab region to encourage the establishment of financial technology companies and to promote capacity-building in this area.

The Council also welcomed the regional initiative to promote financial inclusion in the Arab region launched by the Arab Monetary Fund in cooperation with the World Bank, the Global Alliance for Financial Inclusion and the German Development Agency.







http://www.uabonline.org/en/news/arabicnews/15751604160515891575158516011575160416051585160315/67823/0
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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty Egyptian President meets the Board of Governors of Central Banks and Arab Monetary Institutions

Post by claud39 on Tue Sep 17, 2019 9:14 am

Egyptian President meets the Board of Governors of Central Banks and Arab Monetary Institutions




17/09/2019





UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Rc_156870121061_23







Egyptian President Abdel Fattah El Sisi met today with members of the Board of Governors of Central Banks and Arab Monetary Institutions and officials of the Arab Monetary Fund participating in the 43rd session of the Board of Governors of Central Banks and Arab Monetary Institutions currently held in Cairo.

Egyptian Presidential Spokesman Ambassador Bassam Radi said in a statement that President El-Sisi stressed the importance of enhancing the role of the banking sectors in the Arab countries and developing their monetary practices in a way that contributes to meeting development needs and integrating the private sector more into development projects.

Rady added that the Egyptian president praised the vital role of the Board of Governors and the Arab Monetary Fund in achieving Arab economic integration, promoting economic development in all Arab countries, in addition to developing financial markets and coordinating Arab monetary policies.

For his part, the members of the Board of Governors of the Central Banks and Arab Monetary Institutions stressed the importance of Egypt's pivotal role in the Arab world and the Middle East, and its success in overcoming the challenges of economic and social reform, and the implementation of a package of major national projects in various fields that contributed to the development efforts.







http://www.uabonline.org/en/news/arabicnews/15751604158515741610158715751604160515891585161016/67799/0
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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty HIS EXCELLENCY DR. ABDULRAHMAN BIN ABDULLAH AL HUMAIDI, DIRECTOR GENERAL OF THE ARAB MONETARY FUND, DELIVERED A SPEECH AT THE OPENING OF THE HIGH-LEVEL WORKSHOP ON "ENHANCING FINANCIAL INCLUSION AND DEVELOPING SMES IN THE ARAB COUNTRIES"

Post by claud39 on Tue Sep 17, 2019 9:18 am

HIS EXCELLENCY DR. ABDULRAHMAN BIN ABDULLAH AL HUMAIDI, DIRECTOR GENERAL OF THE ARAB MONETARY FUND, DELIVERED A SPEECH AT THE OPENING OF THE HIGH-LEVEL WORKSHOP ON "ENHANCING FINANCIAL INCLUSION AND DEVELOPING SMES IN THE ARAB COUNTRIES"




2019-09-17


UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS ZIC_8748%20%281%29%20%28Large%29










The proportion of adult populations in developing countries with access to financial services improved from 29 per cent in 2014 to 37 per cent in 2018

The average contribution of SMEs to GDP is around 51% and 30% of employment in the formal sector in the Arab countries

The Arab Financial Inclusion Day on the 27th of April of each year represents a qualitative leap in enhancing awareness of financial inclusion issues and improving its indicators.

September 16, 2019

Cairo - Arab Republic of Egypt

His Excellency Dr. Abdulrahman bin Abdullah Al Humaidi, Director General of the Board of Directors of the Arab Monetary Fund, delivered a speech at the opening of the high-level workshop on enhancing financial inclusion and the development of small and medium enterprises in the Arab countries, which will be held on the sidelines of the 43rd session of the Board of Governors of Central Banks and Arabic criticism. The workshop was attended by a number of Governors of Central Banks and Arab Monetary Institutions, senior officials from the International Monetary Fund and the Bank for International Settlements, as well as senior officials from a number of international central banks, relevant local, regional and international financial institutions and bodies, and the Global Alliance for Financial Inclusion. And financial technology companies, as well as a number of Arab commercial banks.

In his speech, HE highlighted the growing interest in promoting financial inclusion by policy makers in the Arab countries, pointing out that raising financial inclusion positively contributes to creating new job opportunities, achieving sustainable economic and social growth, and reducing unemployment and poverty. The distribution of income, along with raising the standard of living, improves, praising the efforts of stakeholders in the Arab countries, which has contributed to the reduction of the adult population in Arab countries without access to formal financial and financial services from about 71 percent in 2014 to N And 63 per cent in 2017, and about 78 per cent to 74 per cent on the female level, and 84 per cent to 72 per cent for low-income groups, so for the same period.

In the same context, His Excellency the Director General of the Board of Directors of the Arab Monetary Fund stressed the growing interest of decision makers in the Arab countries, the access of micro, small and medium enterprises to financial services, in light of the fact that these projects are one of the most important pillars of the economy in most countries of the world, and one of the most important areas Job creation, in addition to its role in improving financial inclusion and promoting financial, economic and social stability, shows that SMEs represent more than 95% of the total companies in most countries of the world, in addition to being one of the most important tributaries of job opportunities in economies.

On the other hand, Dr. Al-Humaidi praised the great efforts exerted by the financial authorities in the Arab countries, in terms of giving the issues of improving financial inclusion and access to financial services of high quality and appropriate costs, importance and priority within the framework of the economic policies adopted, indicating in this regard the establishment of the authorities in the Arab countries To develop legislation, regulations and regulatory frameworks that help to improve the spread of financial and banking services and encourage innovation in this field, as well as to follow up efforts to upgrade the sound infrastructure systems of the financial and banking system and encourage the development and expansion etc. Non-banking financial services, as well as developing policies and programs that promote transparency in financial and banking transactions.

On the other hand, HE Al-Humaidi praised the topics discussed in the workshop, most notably the enhancement of SME access to finance from official channels, aspects that could help increase bank credit for these companies, the role of credit information systems, developments and developments related to opening channels. Alternative projects such as crowdfunding, legal challenges facing the sector and how to provide a supportive business environment in the Arab countries.

In another context, HE Al-Humaidi stressed the importance of the Arab Monetary Fund to promote financial inclusion in the Arab countries within the framework of its strategy, through a number of axes and activities, pointing in this regard to the Fund to assume the technical secretariat of the regional task force to promote financial inclusion in the Arab countries Governors of central banks and Arab monetary institutions, and the launch of the Arab Monetary Fund in 2016 to facilitate the "enabling environment for small and medium enterprises" in order to support reforms aimed at the advancement of the sector in cooperation with the concerned authorities in member countries, and the Arab Monetary Fund Regional Initiative to Enhance Financial Inclusion in the Arab Countries.

In conclusion, Dr. Al-Humaidi praised the efforts of His Excellency Tariq Amer for his cooperation in preparing the workshop and providing the requirements for its success. Which it offers as the headquarters of the Arab Monetary Fund, which undoubtedly contributes to the fulfillment of the functions of the Fund. The Director General thanked the Governors of the Central Banks and the Arab Monetary Institutions for their support to the Fund and the activities of the Board.







UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS ZIC_8815%20%28Large%29





UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS 2L6A8588%20%28Large%29








https://www.amf.org.ae/ar/content/%D9%85%D8%B9%D8%A7%D9%84%D9%8A-%D8%A7%D9%84%D8%AF%D9%83%D8%AA%D9%88%D8%B1-%D8%B9%D8%A8%D8%AF%D8%A7%D9%84%D8%B1%D8%AD%D9%85%D9%86-%D8%A8%D9%86-%D8%B9%D8%A8%D8%AF%D8%A7%D9%84%D9%84%D9%87-%D8%A7%D9%84%D8%AD%D9%85%D9%8A%D8%AF%D9%8A-%D8%A7%D9%84%D9%85%D8%AF%D9%8A%D8%B1-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%B1%D8%A6%D9%8A%D8%B3-%D9%85%D8%AC%D9%84%D8%B3-%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-38
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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty FINAL STATEMENT 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS CAIRO - EGYPT 15 SEPTEMBER 2019

Post by claud39 on Tue Sep 17, 2019 9:23 am

FINAL STATEMENT 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS CAIRO - EGYPT 15 SEPTEMBER 2019
2019-09-17



UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Logo-ar










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[*]The Board of Governors of Central Banks and Arab Monetary Institutions held its 43rd Ordinary Session on Sunday, September 15, 2019 in Cairo, Egypt under the patronage and presence of HE Dr. Mostafa Madbouly, Prime Minister of the Arab Republic of Egypt. The meeting was chaired by HE Dr. Ziad Fariz, Governor of the Central Bank of Jordan and Chairman of the current session of the Board. Governors of central banks and Arab monetary institutions participated in the 

[*]meeting.



[*]The session was opened with a welcoming speech by HE Tarek Amer, Governor of the Central Bank of Egypt. HE Dr. Mostafa Madbouly, Prime Minister and Sponsor of the meeting, delivered a speech at the opening session in which he renewed the welcome of the Arab Republic of Egypt to the participants. The speech highlighted the economic and financial reform efforts undertaken by the Egyptian authorities. The opening speeches included a speech by His Excellency the Chairman of the meeting, highlighting the increasing importance of cooperation and coordination between the monetary authorities in the Arab countries, praising the topics addressed in the meeting. For his part, His Excellency Dr. Abdulrahman bin Abdullah Al Humaidi, Director General of the Board of Directors of the Arab Monetary Fund, in his opening speech, the implications of regional and international developments and changes on the Arab economies.



[*]The Council discussed regional and international monetary, economic and financial developments and their repercussions on the Arab economies. The Council also discussed the challenges facing the global economy, including high levels of indebtedness and developments in world trade. In this context, the Board heard an intervention by the International Monetary Fund on trends in global financial flows. The exchange rate policies were also discussed. On this occasion, the Governors expressed their congratulations to the Central Bank of Egypt on the success of the reforms taken.  



[*]In light of the growing importance of central bank governance issues, the Board discussed the accelerated developments and expansion of the responsibilities of central banks. The interventions highlighted the importance of strengthening the capacity of central banks in supporting financial stability and developing risk management in line with developments in the financial and banking sector. In this context, the Board welcomed the recommendations of the recent IMF study on the governance of central banks.  



[*]The Board discussed the rapid developments in the financial and banking industry in terms of the growth of cryptocurrency issuances of central banks. Board members' interventions focused on the opportunities offered by cryptocurrencies in enhancing financial inclusion, combating corruption and money laundering, developing electronic payment instruments and improving liquidity management. They also noted the need to address the risks that may arise, as well as to examine the possible effects on monetary policy, the importance of appropriate preparation, building the capacity of central banks willing to issue cryptocurrencies, and developing standards regarding digital identity and the principles of knowing your customer. The Council also stressed the importance of developing appropriate legislation and enhancing international coordination in this regard.



[*]The Board reviewed the work and recommendations of its committees and task forces, namely, the Arab Banking Supervisory Committee, the Regional Working Group for Promoting Financial Inclusion in the Arab States, the Financial Stability Task Force, the Arab Commission for Payment and Settlement Systems, and the Arab Credit Information Committee. In this context, the Board discussed a number of papers and topics worked on by committees and teams, the most important of which were “Banking Supervision on Institutions of Systemic Importance Locally: Arab Experiences”, “Responsible Finance: Policies, Tools and Experiences”; Arab Countries and their Impact on Financial Stability "," Experiences of Instant Payments in Arab Countries ", and" General Principles of Credit Rating for SMEs: Arab Experiences ". The Council stressed the importance of the proposals and recommendations contained in these papers, calling for their implementation in accordance with the situation of each country.


[*]The Council welcomed the establishment of the Group of Modern Financial Technologies, for its importance as a platform that brings together the most important parties and parties concerned with the development of the environment that embraces financial technologies. In this context, the Council stressed the importance of studying the proposal to establish a regulatory laboratory to encourage financial innovations, as a proposed new framework for cooperation and regional experiences among the supervisory authorities in the Arab region to encourage the establishment of financial technology companies and to promote capacity building in this area. The Council also called on Arab central banks to work to maximize the use of modern financial technologies.



[*]The Council renewed its welcome to the regional initiative to promote financial inclusion in the Arab region launched by the Arab Monetary Fund in cooperation with the World Bank, the Global Alliance for Financial Inclusion and the German Development Agency. The Council looked forward to the activities and activities of this initiative, stressing the importance of benefiting from technical solutions to enhance financial inclusion. In this context, the Council noted the model of statistical surveys of the demand for financial services prepared under this initiative.



[*]The Board discussed the follow-up of the implementation of the Arab Clearing System, where progress was welcomed in the framework of the efforts of the Arab Monetary Fund to establish a regional institution for the clearing and settlement of Arab payments, on various tracks of implementation. The Council called for providing support and support to the efforts of the Arab Monetary Fund in completing the establishment of the institution and its services and activities, and enhancing opportunities for the participation of Arab banks and financial institutions and banking in the use of the system to be managed by this institution. The Council also stressed the application of the highest international standards and principles.    



  
[*]The members of the Board reviewed the Financial Stability Report for 2019 and expressed their appreciation for the follow-up of the Arab Monetary Fund to prepare and issue the report, including the topics and analysis. The Council stressed the importance of the report continuously reflecting priority developments and issues for Arab countries.



[*]The Board reviewed the draft of a unified Arab letter to be delivered on behalf of the Arab Group at the annual meetings of the IMF and the World Bank. The members of the Council reiterated the importance of providing more financial support to Arab countries. They also reiterated their call for strengthening partnerships between international financial institutions and Arab funds and financial institutions.



[*]In conclusion, the Council expressed its deep thanks to the President, Government and people of Egypt for hosting the current session of the Council, and to His Excellency Dr. Mostafa Madbouly, the Prime Minister for his kind patronage of the meeting, as well as to His Excellency Tarek Amer, Governor of the Central Bank of Egypt and his colleagues in the Bank in the preparation of the meeting, and the surroundings. Of hospitality. The Board also thanked His Excellency Dr. Ziad Fariz, Governor of the Central Bank of Jordan for chairing this session.

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https://www.amf.org.ae/ar/content/%D8%A7%D9%84%D8%A8%D9%8A%D8%A7%D9%86-%D8%A7%D9%84%D8%AE%D8%AA%D8%A7%D9%85%D9%8A-%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9-%D8%A7%D9%84%D8%AF%D9%88%D8%B1%D8%A9-%D8%A7%D9%84%D8%AB%D8%A7%D9%84%D8%AB%D8%A9-%D9%88%D8%A7%D9%84%D8%A7%D8%B1%D8%A8%D8%B9%D9%8A%D9%86-%D9%84%D9%85%D8%AC%D9%84%D8%B3-%D9%85%D8%AD%D8%A7%D9%81%D8%B8%D9%8A-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A%D8%A9-%D9%88%D9%85%D8%A4%D8%B3%D8%B3%D8%A7%D8%AA-%D8%A7%D9%84%D9%86%D9%82%D8%AF
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UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS Empty THE BOARD OF DIRECTORS OF THE ARAB MONETARY FUND HELD ITS 192ND MEETING ON THURSDAY, 26 SEPTEMBER 2019

Post by claud39 on Thu Sep 26, 2019 9:23 am

THE BOARD OF DIRECTORS OF THE ARAB MONETARY FUND HELD ITS 192ND MEETING ON THURSDAY, 26 SEPTEMBER 2019
2019-09-26





UNDER THE AUSPICES AND PRESENCE OF HE DR. MOSTAFA MADBOULY, PRIME MINISTER OF THE ARAB REPUBLIC OF EGYPT AND THE GENEROUS INVITATION OF THE CENTRAL BANK OF EGYPT, THE ARAB MONETARY FUND ORGANIZES THE 43RD MEETING OF THE BOARD OF GOVERNORS OF CENTRAL BANKS GLP_6474%20%28Large%29






The Arab Monetary Fund (AMF) continues its efforts to pursue economic and financial reform programs in its member countries to meet various challenges.

The Fund intensifies its efforts to complete the establishment of the Arab Clearing and Settlement Foundation.

During the third quarter of 2019, the Fund will provide nine training courses and workshops through its Training and Capacity Building Institute.




The 192nd meeting of the Board of Executive Directors of the Arab Monetary Fund (AMF) was held on Thursday, 26 September 2019, in Abu Dhabi, under the chairmanship of Dr. Abdul Rahman bin Abdullah Al Humaidi, Director General and Chairman of the Board. The meeting reviewed the developments of the activities of the Fund, and the most important work done in the various fields of work during the third quarter of 2019, within the framework of its five-year strategy (2015-2020).




With regard to lending activity , the Board was informed of loan requests made by Member States for the renewed utilization of the Fund's resources, developments regarding existing loans, as well as the results of follow-up missions undertaken by the Fund to assess the progress of the implementation of agreed reform programs, supported by loans from the Fund.




On the other hand, the Board's agenda included a review of the Fund's investment activities, including the acceptance of deposits from central banks and Arab monetary institutions, the performance of investment portfolios, developments in international financial markets and the measures taken to implement the Fund's investment strategy.




The Council was also informed of the training opportunities provided by the Fund during the third quarter of 2019, to Arab cadres in official economic, financial, monetary and statistical institutions in the Arab countries, through its Training and Capacity Building Institute. During the quarter, the Institute's activities consisted of holding 9 training courses and workshops, which were conducted with the participation of technicians at the Arab Monetary Fund, in cooperation with a number of regional and international organizations and institutions. The courses dealt with a variety of economic topics to cope with the concerns and training needs of the official Arab cadres.




The Board was also briefed on the Fund's activity in the field of financial sector development in the Arab countries , through its initiatives, in cooperation with relevant regional and international financial institutions. , "To discuss aspects of promoting SME access to finance from official channels," and aspects that can help increase bank credit to these companies.




As for the Fund's activity as part of its role as Technical Secretariat of the Board of Governors of Central Banks and Arab Monetary Institutions, the Board was briefed on the results of the 43rd session of the Board, which we joined on 15 September 2019 in Cairo, Egypt. The Board also reviewed the topics discussed during the tenth meeting of the Financial Stability Working Group in the Arab States, and the eighth meeting of the Arab Committee for Credit Information organized by the Fund in Abu Dhabi in September 2019.




On the other hand, the Board reviewed the Fund's efforts to complete the establishment of an independent legal entity owned by the Arab Monetary Fund to manage the regional inter-Arab clearing and settlement system, where the Board was briefed on the developments.




The Board also reviewed what the Fund has done during the period since its previous meeting in June 2019, as part of its role as the Secretariat of the Council of Arab Ministers of Finance, taking note of what the Fund has done in the framework of arrangements to participate in the upcoming annual meetings of the IMF and the World Bank. The Council also took note of the arrangements for the preparation of the fifth meeting of Arab Under-Secretaries of Finance, to be held in January 2020, and the fifth forum for public finance to be held in November 2020.







https://www.amf.org.ae/ar/content/%D9%85%D8%AC%D9%84%D8%B3-%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9-%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%D8%B9%D9%82%D8%AF-%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9%D9%87-%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%8A-%D9%88%D8%A7%D9%84%D8%AA%D8%B3%D8%B9%D9%8A%D9%86-%D8%A8%D8%B9%D8%AF-%D8%A7%D9%84%D9%85%D8%A7%D8%A6%D8%A9-%D9%8A%D9%88%D9%85-%D8%A7%D9%84%D8%AE%D9%85%D9%8A%D8%B3-%D8%A7%D9%84%D9%85%D9%88%D8%A7%D9%81%D9%82-26
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