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Enhancing the Effectiveness of Monetary Policies and Managing Local Liquidity Efficiently - The Board of Governors of GCC Monetary Institutions discusses payment systems and technologies DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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Enhancing the Effectiveness of Monetary Policies and Managing Local Liquidity Efficiently - The Board of Governors of GCC Monetary Institutions discusses payment systems and technologies Empty Enhancing the Effectiveness of Monetary Policies and Managing Local Liquidity Efficiently - The Board of Governors of GCC Monetary Institutions discusses payment systems and technologies

Post by claud39 on Fri Sep 13, 2019 7:38 am

Enhancing the Effectiveness of Monetary Policies and Managing Local Liquidity Efficiently - The Board of Governors of GCC Monetary Institutions discusses payment systems and technologies


13/09/2019



Enhancing the Effectiveness of Monetary Policies and Managing Local Liquidity Efficiently - The Board of Governors of GCC Monetary Institutions discusses payment systems and technologies Rc_156835398247_23




Taher bin Salim bin Abdullah Al Omari, Chairman of the Central Bank of Oman (CBO), chaired the 73rd meeting of the GCC Monetary and Central Bank Governors Committee held in Muscat yesterday.

During the meeting, the Committee discussed a number of topics related to supervision and control of the banking system in the GCC States, payment systems and techniques in the financial sector. In addition, the committee discussed topics related to the joint dialogue between the monetary institutions and central banks in the GCC countries and some economic groups and blocs and other countries.

In his opening remarks, HE Taher bin Salim Al Omari, CEO of the Central Bank of Oman (CBO), stressed that the banking sectors in the region have proved their resilience and ability to withstand the economic challenges they have faced recently. Their attractiveness as containers of local savings and provide the necessary funding to the private and government sectors.


 Our banking sectors could not have achieved this success without the pivotal role played by the monetary authorities and central banks in the region, in terms of tight regulatory frameworks, commitment to the implementation of international standards of banking safety, and the appropriateness of countercyclical countercyclical policies adopted to overcome slowing growth in deposits and maintain The high quality of the banking sector assets in light of the high interest rates on the US dollar and the repercussions on local interest rates in general.

On the other hand, His Excellency explained that maintaining the monetary and financial stability in the GCC region is one of the main tasks of the monetary authorities and central banks in the GCC, a task that requires the strengthening of the effectiveness of our monetary policies in a way that enables us to manage domestic liquidity efficiently according to our special economic conditions. In this context, the rapid developments in financial technology create opportunities that should be maximized, but they also create different challenges that we must properly address. Successive financial innovations offer great opportunities to develop the banking industry and enhance financial inclusion, including financial literacy, broadening the base of beneficiaries of financial services, and developing payment and settlement systems.




http://www.uabonline.org/en/news/arabicnews/15781593158616101586160115931575160416101577157516/67735/0
claud39
claud39
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