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Today .. GCC Financial and Economic Cooperation Committee discusses common market and customs union DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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Today .. GCC Financial and Economic Cooperation Committee discusses common market and customs union Empty Today .. GCC Financial and Economic Cooperation Committee discusses common market and customs union

Post by claud39 on Mon Oct 07, 2019 7:24 am

Today .. GCC Financial and Economic Cooperation Committee discusses common market and customs union


07/10/2019





Today .. GCC Financial and Economic Cooperation Committee discusses common market and customs union Rc_157043012741_23







Minister of Finance Mohammed Al-Jadaan heads the Kingdom's delegation to the 110th meeting of the GCC Economic and Financial Cooperation Committee, which is being held today in Muscat, with the participation of the Governor of the General Authority of Customs Ahmed bin Abdulaziz Al-Haqbani and the Governor of the General Authority for Zakat and Income Engineer Suhail bin Mohammed Abanmi. A number of specialists from the concerned authorities.

The meeting will discuss a number of topics on its agenda, which aim to achieve greater coordination and integration among the member states, including recommendations from the technical committees on the topics of the Common Gulf Market, the GCC Customs Union, and awareness programs on the harm of tobacco and the risk of drinking sweetened beverages. Supporting joint activities and programs for the development of youth work in the GCC countries, financial awards for the organizing committees of sports in the GCC countries, in addition to a number of topics of common interest.

Undersecretaries of the ministries of finance in the GCC countries held yesterday the 56th meeting of the undersecretaries of finance ministries in preparation for the 110th meeting of the Financial and Economic Cooperation Committee in Muscat.

During the meeting, a number of issues were discussed, including the findings of the Board of Governors of the Monetary Institutions and Central Banks in the GCC States, the Gulf Common Market Committee, the Customs Union Authority and the Committee of Heads and Directors of Tax Administrations in the GCC States.

The Committee also took note of some of the issues before it, including the report of the General Secretariat of the GCC States on the resolutions implemented at its previous meeting and other issues of importance.







http://www.uabonline.org/en/news/arabicnews/15751604161016081605160415801606157715751604157815/68482/0
claud39
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Today .. GCC Financial and Economic Cooperation Committee discusses common market and customs union Empty Gulf central banks are developing tools to increase the accuracy of forecasting liquidity conditions

Post by claud39 on Mon Oct 07, 2019 7:27 am

Gulf central banks are developing tools to increase the accuracy of forecasting liquidity conditions


-07/10/2019





Today .. GCC Financial and Economic Cooperation Committee discusses common market and customs union Rc_157042867765_23







KUWAIT CITY: Gulf central banks are seeking to develop sophisticated tools and models to increase their ability to predict liquidity conditions to achieve the monetary and financial stability of the Gulf Cooperation Council (GCC).

Al-Hashel said during the opening of a workshop on (forecasts and analysis of liquidity management), which is organized by the Gulf Monetary Council in cooperation with the Central Bank of Kuwait, that the economies of the GCC countries have features that affect the liquidity levels such as the direct and substantial impact of oil revenues on their budgets in addition to linking their currencies In dollars or in a basket of currencies.

He pointed out that «characteristic of the Gulf economies freedom of movement of internal and external funds without restrictions, pointing out that what is happening in the world is reflected naturally on the economies of the GCC countries such as increased global trade restrictions and political tensions and weak governance globally».

He pointed out that «monetary policies of unusual developed countries may have repercussions such as increased debt globally and severe fluctuations in exchange rates, which will affect the ability of countries to meet their obligations and thus negatively affect the global economies».

For his part, Chief Executive Officer of the Gulf Monetary Council, Dr. Atef Al-Rashidi said in a similar speech that the workshop deals with the expectations and management of financial liquidity in the GCC countries, whose importance lies in the central roles of central banks to enhance their ability to predict liquidity of banking.

Al-Rashidi stressed that the more central banks increase their ability to develop tools for forecasting bank and financial liquidity, there is flexibility that helps central banks to intervene when needed to increase or reduce liquidity, which is reflected positively on the cash markets and local economies.







http://www.uabonline.org/en/news/arabicnews/15751604157616061608160315751604160515851603158616/68457/0
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Today .. GCC Financial and Economic Cooperation Committee discusses common market and customs union Empty Al-Hashel: Central banks are keen to increase their ability to predict liquidity conditions

Post by claud39 on Mon Oct 07, 2019 7:29 am

Al-Hashel: Central banks are keen to increase their ability to predict liquidity conditions




07/10/2019





Today .. GCC Financial and Economic Cooperation Committee discusses common market and customs union Rc_157042976717_23







The Governor of the Central Bank of Kuwait d. Gulf central banks are seeking to develop sophisticated tools and models to increase their ability to predict liquidity conditions to achieve the monetary and financial stability of the Gulf Cooperation Council.

Hashel, who is also the chairman of the Gulf Monetary Council (GCC), said in a speech during his inauguration today a workshop on liquidity management forecasts and analysis organized by the Gulf Monetary Council in cooperation with the Central Bank of Kuwait.

He explained that the GCC economies have features that affect liquidity levels such as the direct and substantial impact of oil revenues on their budgets, in addition to linking their currencies to the dollar or a basket of currencies.

He pointed out that the characteristic of the Gulf economies freedom of movement of internal and external funds without restrictions, pointing out that what is happening in the world is reflected naturally on the economies of the GCC countries such as increased global trade restrictions and political tensions and weak governance globally.

He pointed out that the monetary policies of the unusual developed countries may have repercussions such as increased debt globally and severe fluctuations in exchange rates, which will affect the ability of countries to meet their obligations and thus negatively affect the global economies.

For his part, Chief Executive Officer of the Gulf Monetary Council, Dr. Atef Al-Rashidi said in a similar speech that the workshop deals with the expectations and management of financial liquidity in the GCC countries, which lies in the key roles of central banks to enhance their ability to predict liquidity of banking.

Al-Rashidi stressed that the more central banks increase their ability to develop tools for forecasting bank and financial liquidity, the more flexibility will help central banks to intervene when needed to increase or reduce liquidity, which is reflected positively on the money markets and local economies.

The workshop aims at building capacities and exchanging expertise among the central banks in the GCC countries and benefiting from the expertise of the competent international institutions in light of the economic changes and the challenges they impose.

Speakers from the International Monetary Fund, the Federal Bank of Germany and the Spanish Central Bank will also take part in the workshop, as well as representatives from the GCC Secretariat General and the Economic and Development Authority.





http://www.uabonline.org/en/news/arabicnews/15751604160715751588160415751604157616061608160315/68477/0
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Today .. GCC Financial and Economic Cooperation Committee discusses common market and customs union Empty GCC countries discuss boosting economic cooperation

Post by claud39 on Tue Oct 08, 2019 7:42 am

GCC countries discuss boosting economic cooperation




08/10/2019





Today .. GCC Financial and Economic Cooperation Committee discusses common market and customs union Rc_157051520438_23







Undersecretaries of the GCC ministries of finance held yesterday the 56th meeting of the undersecretaries of the ministries of finance in preparation for the 110th meeting of the Financial and Economic Cooperation Committee at Al Bustan Palace Hotel in Muscat.

The meeting was chaired by His Excellency Mohammed Jawad bin Hassan bin Sulaiman, in charge of the undersecretary of the Ministry of Finance, in the presence of the undersecretaries of the GCC countries.

The meeting started with a welcoming speech delivered by the Acting Undersecretary of the Ministry of Finance, welcoming their Excellencies the agents in the Sultanate. the Council.

The officials discussed a number of topics, including the conclusions of the GCC Monetary Agency and Central Bank Governors Committee, the GCC Common Market Committee, the Customs Union Authority and the Committee of Heads and Managers of the GCC Tax Departments.

The Committee also took note of some of the topics before it, including the report of the General Secretariat of the GCC States on the resolutions implemented at its previous meeting and other topics of interest.







http://www.uabonline.org/en/news/arabicnews/15831608160415751604160515801604158715781576158115/68518/0
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