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The annual Arab Banking Conference organized by the Union of Arab Banks in Cairo: 700 banking leaders from 23 Arab and foreign countries
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The annual Arab Banking Conference organized by the Union of Arab Banks in Cairo: 700 banking leaders from 23 Arab and foreign countries
by claud39 Fri Dec 13, 2019 7:22 am
The annual Arab Banking Conference organized by the Union of Arab Banks in Cairo: 700 banking leaders from 23 Arab and foreign countries
-12/12/2019
The Union of Arab Banks opened the annual Arab Banking Conference 2019 at the Ritz-Carlton Hotel in Cairo, entitled “The Implications of Political Volatility on the Path of Banking Work” in the presence of the Minister of Finance in the Arab Republic of Egypt, Mohamed Moait, Governor of the Central Bank of Egypt, Tariq General, President of the International Federation of Arab Bankers Joseph Tarabieh President of the Union of Arab Banks, Mohamed El-Jarrah El-Sabah, President of the Federation of Egyptian Banks, Hisham when the Arabs, Vice President of the World Bank, Mahmoud Mohy El-Din, Secretary-General of the Federation of Arab Banks, Wissam Fattouh, and more than 700 leading banking personalities from 23 Arab and foreign countries.
The President of the Union of Arab Banks, Sheikh Muhammad Al-Jarrah Al-Sabah, made a speech calling for neutralizing the banking sector and avoiding it from any political fluctuations in order to continue its pioneering role in supporting national economies and financing development projects.
Morning said
Al-Sabah said: The Union of Arab Banks has played and is still a pivotal and leadership role in the development of the Arab banking industry, and has also been keen that Arab banks keep pace with the global development in the field of new financial instruments, and develop them in a manner appropriate to the Arab reality, and participate in the consolidation of a new banking supervision idea for the Arab countries Contributed to strengthening banking stability in the Arab region.
To that, the Union has adopted a new role during the recent years in terms of promoting trade, investment and tourism, based on the importance of these economic fields for Arab banking, and also its fundamental importance in the process of economic development at the level of the region as a whole.
Based on this, the Union of Arab Banks asked through its conference, what happens in most of our Arab countries from political and economic fluctuations? How do these fluctuations affect our economic sectors? And because we have realized the seriousness of these conditions and their repercussions on the Arab banking sector, and on economic development, we open today with all of you, and with this elite of speakers, experts and observers, a file of these developments and identify steps leading to facing challenges before it is too late.
Fattouh
, Secretary General of the Federation of Arab Banks gave Wissam Fattouh a speech on the shield of the Prize of “Leadership Vision for 2019 by Dr. Ahmed bin Abdul Karim Al-Khulaifi, Governor of the Saudi Arabian Monetary Agency, who is a pioneer of the Arab banking industry and one of the economists in our Arab world. A giant who had the great credit for launching the most important and largest development plan in this era, Vision 2030 ».
Fatouh added: The Board of Directors of the Union of Arab Banks and its General Secretariat granted this award, in appreciation of your continued efforts and your wise management of leadership positions in the award, in appreciation of your continuous efforts and your wise management of leadership positions in financial, legal and economic bodies and institutions, which have contributed to supporting the process of economic reform and economic development, and have maintained Monetary and financial stability and promoted economic growth in your prosperous country - the Kingdom of Saudi Arabia, may God preserve and nurture it.
Al-Humaidi
His Excellency Dr. Abdul Rahman bin Abdullah Al-Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, delivered a speech at the opening of the work of the fourteenth annual high-level meeting on “global banking standards and legislative and regulatory priorities”.
In his speech, Al-Hamidi indicated that the global economy is witnessing signs of weakness, affected by the atmosphere of uncertainty resulting from the escalation of trade tensions between the developed economies and concerns about the repercussions of the high levels of public debt, which was reflected on trade and investment activities in both developed and developing countries, noting In this regard, these developments will have repercussions on economic performance and on the capabilities of the banking sector to provide financing for economic activity.
In this context, the Director General of the Arab Monetary Fund Board of Directors pointed out that the banking system today is relatively more prepared to face unexpected shocks, praising in this regard the efforts of global central banks that constantly verify the performance and work of banking and financial institutions subject to their supervision in order to ensure the flexibility of their financial positions According to the laws, regulations, instructions and banking rules to achieve banking safety and monetary and financial stability.
The Chairman of the Board of Directors of the Federation of Arab Banks and Chairman of the Bank of Egypt, Mohamed Al-Atribi, gave a speech in which he said: Foggy still dominates the global economy affected by the escalation of trade tensions between the United States and China, and ambiguity continues to cloud the future of the European Union economy due to unclear scenarios due to exit Britain from the European Union.
On the regional level, our Arab economies suffer from geopolitical tensions in the region in addition to internal conflicts and security risks in some of the Arab countries.
All of this would hinder the economic growth process of the countries of the Arab world in a direct or indirect way, as achieving economic and social security in addition to achieving political stability are prerequisites for achieving economic growth and promoting sustainable development in our Arab world, in general, as well as ensuring the growth and solidity of the banking system Al-Arabi, in particular, and enhances his ability to achieve the goals of financial inclusion, which mainly aims at the well-being of individuals and their participation in building their homelands and enhancing their sense of belonging.
Thus, we are talking about a series of growth and development requirements, each of which is both a cause and a consequence of the other.
This requires the cooperation of all economic policy makers in the Arab countries to work on a number of comprehensive economic reforms at the level of the entire Arab world, targeting its stability and comprehensive and sustainable growth, whether at the level of monetary or financial policy or trade liberalization policies between the Arab world to reach the desired Arab economic integration.
It is worth noting here the most recent initiatives launched by the Central Bank in cooperation with the banking government, which are:
* Allocating 100 billion pounds, according to which banks provide credit facilities for medium and large industrial projects whose sales amount to one billion pounds as a maximum per year, to be allocated to finance investment goods or to finance working capital, at a rate of 10% diminishing annually, through long-term or short-term loans. Depending on the needs, the alternative industries will be a priority for imports or export industries, and the new initiative aims to cover 96,000 industrial enterprises.
* The initiative to exempt troubled factories from the accumulated benefits, which number 184.5 factories and have issues with banks, it is worth noting that the size of these benefits over the past years amounted to 31 billion pounds.
* The Real Estate Finance Initiative for Medium Housing, where 50 billion pounds were allocated to it in principle, at a 10% discount rate, and the installment rate reaches 20 years.
The Central Bank of Egypt is also making a great effort to prepare the legislative environment to suit the global changes that have occurred in the banking field and the rapid development of the services provided. Therefore, we are awaiting the issuance of the new Banking and Cash Law which was approved by the Council of Ministers and referred to the House of Representatives for approval, and the new law came to regulate And the development of both the central bank and the banking system in a manner that guarantees the protection of customers and the expansion of their base within the framework of financial inclusion and the application of financial technology with the provisions of the Central Bank control in a manner that guarantees the rights of depositors and guarantees the safety of the banking system.
Recommendations
The meeting called on the Union of Arab Banks to prepare a study on the repercussions of political fluctuations and what has become the conditions of Arab banks in countries affected by wars and crises and to highlight the role of governments and central banks in overcoming the effects of these wars.
The meeting recommended organizing conferences and forums to anticipate the reality of the situation in some Arab countries that call for great and direct attention in their banking sectors and how to protect them to continue the march to support economic development in their countries.
The meeting also recommended the continuation of banking support for the financial inclusion initiative in the Arab region from which small, medium and micro projects emerge and the strengthening of banking services for low-income people.
The meeting stressed the need to encourage work to activate the banking industry as a platform for the global digital economy, in order to enhance the prosperity of financial market opportunities.
The meeting called for neutralizing the Arab banking sector and distancing it from any political fluctuations in order to continue its pioneering role in supporting national economies and financing development projects in all of our economic sectors.
The conferees stressed the importance of social responsibility to our financial and humanitarian societies, given that society is the most affected as a result of political fluctuations and instability.
The conferees also stressed the importance of the close and interrelated relationship between financial stability and economic stability, as disciplining one of them provides an opportunity for the other, covered by good monetary and financial policies.
The meeting pointed out that the stage through which some of our countries pass today requires more than any other day, to establish a state of financial stability by opening Arab-Arab markets by adopting a clear strategy that is in the interest of the Arab banking sector to consolidate the good reputation of our Arab banks in the world, and to monitor developments in financial work The new international banker in all fields, especially in terms of capitalization, development of advanced technology, development of the banking services base, improvement of risk and crisis management mechanisms and adherence to international banking standards.
The conferees expressed their thanks and appreciation for the efforts made by the Union of Arab Banks to improve the process of Arab banking and protect it, especially the Arab Banking Conference for 2019 in Cairo, which illuminated the repercussions of political turmoil at the expense of Arab banking, and opened the way for Arab and foreign experts to Arab possible solutions in this The field with the aim of strengthening the process of joint Arab action
http://www.uabonline.org/en/news/arabicnews/15751604160515721578160515851575160416051589158516/70804/1
-12/12/2019
The Union of Arab Banks opened the annual Arab Banking Conference 2019 at the Ritz-Carlton Hotel in Cairo, entitled “The Implications of Political Volatility on the Path of Banking Work” in the presence of the Minister of Finance in the Arab Republic of Egypt, Mohamed Moait, Governor of the Central Bank of Egypt, Tariq General, President of the International Federation of Arab Bankers Joseph Tarabieh President of the Union of Arab Banks, Mohamed El-Jarrah El-Sabah, President of the Federation of Egyptian Banks, Hisham when the Arabs, Vice President of the World Bank, Mahmoud Mohy El-Din, Secretary-General of the Federation of Arab Banks, Wissam Fattouh, and more than 700 leading banking personalities from 23 Arab and foreign countries.
The President of the Union of Arab Banks, Sheikh Muhammad Al-Jarrah Al-Sabah, made a speech calling for neutralizing the banking sector and avoiding it from any political fluctuations in order to continue its pioneering role in supporting national economies and financing development projects.
Morning said
Al-Sabah said: The Union of Arab Banks has played and is still a pivotal and leadership role in the development of the Arab banking industry, and has also been keen that Arab banks keep pace with the global development in the field of new financial instruments, and develop them in a manner appropriate to the Arab reality, and participate in the consolidation of a new banking supervision idea for the Arab countries Contributed to strengthening banking stability in the Arab region.
To that, the Union has adopted a new role during the recent years in terms of promoting trade, investment and tourism, based on the importance of these economic fields for Arab banking, and also its fundamental importance in the process of economic development at the level of the region as a whole.
Based on this, the Union of Arab Banks asked through its conference, what happens in most of our Arab countries from political and economic fluctuations? How do these fluctuations affect our economic sectors? And because we have realized the seriousness of these conditions and their repercussions on the Arab banking sector, and on economic development, we open today with all of you, and with this elite of speakers, experts and observers, a file of these developments and identify steps leading to facing challenges before it is too late.
Fattouh
, Secretary General of the Federation of Arab Banks gave Wissam Fattouh a speech on the shield of the Prize of “Leadership Vision for 2019 by Dr. Ahmed bin Abdul Karim Al-Khulaifi, Governor of the Saudi Arabian Monetary Agency, who is a pioneer of the Arab banking industry and one of the economists in our Arab world. A giant who had the great credit for launching the most important and largest development plan in this era, Vision 2030 ».
Fatouh added: The Board of Directors of the Union of Arab Banks and its General Secretariat granted this award, in appreciation of your continued efforts and your wise management of leadership positions in the award, in appreciation of your continuous efforts and your wise management of leadership positions in financial, legal and economic bodies and institutions, which have contributed to supporting the process of economic reform and economic development, and have maintained Monetary and financial stability and promoted economic growth in your prosperous country - the Kingdom of Saudi Arabia, may God preserve and nurture it.
Al-Humaidi
His Excellency Dr. Abdul Rahman bin Abdullah Al-Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, delivered a speech at the opening of the work of the fourteenth annual high-level meeting on “global banking standards and legislative and regulatory priorities”.
In his speech, Al-Hamidi indicated that the global economy is witnessing signs of weakness, affected by the atmosphere of uncertainty resulting from the escalation of trade tensions between the developed economies and concerns about the repercussions of the high levels of public debt, which was reflected on trade and investment activities in both developed and developing countries, noting In this regard, these developments will have repercussions on economic performance and on the capabilities of the banking sector to provide financing for economic activity.
In this context, the Director General of the Arab Monetary Fund Board of Directors pointed out that the banking system today is relatively more prepared to face unexpected shocks, praising in this regard the efforts of global central banks that constantly verify the performance and work of banking and financial institutions subject to their supervision in order to ensure the flexibility of their financial positions According to the laws, regulations, instructions and banking rules to achieve banking safety and monetary and financial stability.
The Chairman of the Board of Directors of the Federation of Arab Banks and Chairman of the Bank of Egypt, Mohamed Al-Atribi, gave a speech in which he said: Foggy still dominates the global economy affected by the escalation of trade tensions between the United States and China, and ambiguity continues to cloud the future of the European Union economy due to unclear scenarios due to exit Britain from the European Union.
On the regional level, our Arab economies suffer from geopolitical tensions in the region in addition to internal conflicts and security risks in some of the Arab countries.
All of this would hinder the economic growth process of the countries of the Arab world in a direct or indirect way, as achieving economic and social security in addition to achieving political stability are prerequisites for achieving economic growth and promoting sustainable development in our Arab world, in general, as well as ensuring the growth and solidity of the banking system Al-Arabi, in particular, and enhances his ability to achieve the goals of financial inclusion, which mainly aims at the well-being of individuals and their participation in building their homelands and enhancing their sense of belonging.
Thus, we are talking about a series of growth and development requirements, each of which is both a cause and a consequence of the other.
This requires the cooperation of all economic policy makers in the Arab countries to work on a number of comprehensive economic reforms at the level of the entire Arab world, targeting its stability and comprehensive and sustainable growth, whether at the level of monetary or financial policy or trade liberalization policies between the Arab world to reach the desired Arab economic integration.
It is worth noting here the most recent initiatives launched by the Central Bank in cooperation with the banking government, which are:
* Allocating 100 billion pounds, according to which banks provide credit facilities for medium and large industrial projects whose sales amount to one billion pounds as a maximum per year, to be allocated to finance investment goods or to finance working capital, at a rate of 10% diminishing annually, through long-term or short-term loans. Depending on the needs, the alternative industries will be a priority for imports or export industries, and the new initiative aims to cover 96,000 industrial enterprises.
* The initiative to exempt troubled factories from the accumulated benefits, which number 184.5 factories and have issues with banks, it is worth noting that the size of these benefits over the past years amounted to 31 billion pounds.
* The Real Estate Finance Initiative for Medium Housing, where 50 billion pounds were allocated to it in principle, at a 10% discount rate, and the installment rate reaches 20 years.
The Central Bank of Egypt is also making a great effort to prepare the legislative environment to suit the global changes that have occurred in the banking field and the rapid development of the services provided. Therefore, we are awaiting the issuance of the new Banking and Cash Law which was approved by the Council of Ministers and referred to the House of Representatives for approval, and the new law came to regulate And the development of both the central bank and the banking system in a manner that guarantees the protection of customers and the expansion of their base within the framework of financial inclusion and the application of financial technology with the provisions of the Central Bank control in a manner that guarantees the rights of depositors and guarantees the safety of the banking system.
Recommendations
The meeting called on the Union of Arab Banks to prepare a study on the repercussions of political fluctuations and what has become the conditions of Arab banks in countries affected by wars and crises and to highlight the role of governments and central banks in overcoming the effects of these wars.
The meeting recommended organizing conferences and forums to anticipate the reality of the situation in some Arab countries that call for great and direct attention in their banking sectors and how to protect them to continue the march to support economic development in their countries.
The meeting also recommended the continuation of banking support for the financial inclusion initiative in the Arab region from which small, medium and micro projects emerge and the strengthening of banking services for low-income people.
The meeting stressed the need to encourage work to activate the banking industry as a platform for the global digital economy, in order to enhance the prosperity of financial market opportunities.
The meeting called for neutralizing the Arab banking sector and distancing it from any political fluctuations in order to continue its pioneering role in supporting national economies and financing development projects in all of our economic sectors.
The conferees stressed the importance of social responsibility to our financial and humanitarian societies, given that society is the most affected as a result of political fluctuations and instability.
The conferees also stressed the importance of the close and interrelated relationship between financial stability and economic stability, as disciplining one of them provides an opportunity for the other, covered by good monetary and financial policies.
The meeting pointed out that the stage through which some of our countries pass today requires more than any other day, to establish a state of financial stability by opening Arab-Arab markets by adopting a clear strategy that is in the interest of the Arab banking sector to consolidate the good reputation of our Arab banks in the world, and to monitor developments in financial work The new international banker in all fields, especially in terms of capitalization, development of advanced technology, development of the banking services base, improvement of risk and crisis management mechanisms and adherence to international banking standards.
The conferees expressed their thanks and appreciation for the efforts made by the Union of Arab Banks to improve the process of Arab banking and protect it, especially the Arab Banking Conference for 2019 in Cairo, which illuminated the repercussions of political turmoil at the expense of Arab banking, and opened the way for Arab and foreign experts to Arab possible solutions in this The field with the aim of strengthening the process of joint Arab action
http://www.uabonline.org/en/news/arabicnews/15751604160515721578160515851575160416051589158516/70804/1
claud39- Elite Member
- Posts : 18423
Join date : 2018-11-04
Arab banks call for strengthening financial stability in light of political fluctuations
by claud39 Fri Dec 13, 2019 7:24 am
Arab banks call for strengthening financial stability in light of political fluctuations
13/12/2019
The meeting of the Arab Banks Conference in Cairo stressed that the stage through which some of our Arab countries pass today requires, more than any day before, the consolidation of financial stability by opening Arab-Arab markets by adopting a clear strategy that is in the interest of the Arab banking sector to establish the good reputation of our Arab banks in the world And to monitor the developments of the new international financial and banking work in all fields, especially in terms of capitalization, development of advanced technology, development of the banking services base, improvement of risk and crisis management mechanisms, and adherence to international banking standards.
The Union of Arab Banks called for a study on the repercussions of political fluctuations and the conditions of Arab banks in some countries affected by wars and crises and to highlight the role of governments and central banks in overcoming the effects of these wars, and called for great and direct attention to their banking sectors through the organization of conferences and forums to anticipate the reality of these Sectors and how to protect them to continue in the process of supporting economic development in their countries.
The conference recommended the continuation of banking support for the financial inclusion initiative in the Arab region from which small, medium and micro projects emerge and the strengthening of banking services for low-income people. Encouraging work to activate the banking industry as a platform for the global digital economy, in order to enhance the prosperity of financial market opportunities.
The meeting called for neutralizing the Arab banking sector and avoiding it from any political fluctuations in order to continue its pioneering role in supporting national economies and financing development projects in all our economic sectors, stressing the importance of social responsibility to our financial and humanitarian societies, given that society is the most affected as a result of political fluctuations. Instability.
Participants stressed the importance of the close and interrelated relationship between financial stability and economic stability, as the discipline of one provides an opportunity for the other, covered by good monetary and fiscal policies.
Expressing their thanks and appreciation for the efforts made by the Union of Arab Banks to improve the process of Arab banking and protect it. Especially the Arab Banking Conference 2019 in Cairo, which shed light on the repercussions of political turmoil at the expense of Arab banking, and opened the way for Arab and foreign experts to present possible solutions in this field with the aim of strengthening the path of joint Arab action.
The participants sent a cable of thanks and appreciation to the President of the Arab Republic of Egypt, President and Government and the people for their generous hospitality and good reception, wishing Egypt and its good people stability and prosperity.
The annual Arab Banking Conference was held under the title 'Implications of political fluctuations in the course of banking work' under the patronage of the Governor of the Central Bank of Egypt, Tariq Hassan Amer, organized by the Union of Arab Banks, the Central Bank of Egypt and the Federation of Egyptian Banks, which witnessed the presence of 23 Arab and foreign countries.
Speaking during the opening session, the Governor of the Central Bank of Egypt, Tariq Hassan Amer, the Egyptian Minister of Finance Dr. Muhammad Ma’it, Sheikh Muhammad Jarrah Al-Sabah, President of the Federation of Arab Banks, Dr. Joseph Tarabieh, President of the International Federation of Arab Bankers, and Mohamed Atribi, member of the Board of Directors of the Federation of Egyptian Banks and Vice President of the Federation of Banks Arabia, Adnan Yousef, President of the Bahrain Banking Association, and Dr. Mahmoud Mohiuddin, First Vice President of the World Bank. The opening ceremony of the conference witnessed the honoring of the Governor of the Saudi Arabian Monetary Agency, Dr. Ahmed Abdul Karim Al-Khali in the Leadership Vision Award for 2019.
http://www.uabonline.org/en/news/arabicnews/15751604160515891575158516011575160415931585157616/70827/0
13/12/2019
The meeting of the Arab Banks Conference in Cairo stressed that the stage through which some of our Arab countries pass today requires, more than any day before, the consolidation of financial stability by opening Arab-Arab markets by adopting a clear strategy that is in the interest of the Arab banking sector to establish the good reputation of our Arab banks in the world And to monitor the developments of the new international financial and banking work in all fields, especially in terms of capitalization, development of advanced technology, development of the banking services base, improvement of risk and crisis management mechanisms, and adherence to international banking standards.
The Union of Arab Banks called for a study on the repercussions of political fluctuations and the conditions of Arab banks in some countries affected by wars and crises and to highlight the role of governments and central banks in overcoming the effects of these wars, and called for great and direct attention to their banking sectors through the organization of conferences and forums to anticipate the reality of these Sectors and how to protect them to continue in the process of supporting economic development in their countries.
The conference recommended the continuation of banking support for the financial inclusion initiative in the Arab region from which small, medium and micro projects emerge and the strengthening of banking services for low-income people. Encouraging work to activate the banking industry as a platform for the global digital economy, in order to enhance the prosperity of financial market opportunities.
The meeting called for neutralizing the Arab banking sector and avoiding it from any political fluctuations in order to continue its pioneering role in supporting national economies and financing development projects in all our economic sectors, stressing the importance of social responsibility to our financial and humanitarian societies, given that society is the most affected as a result of political fluctuations. Instability.
Participants stressed the importance of the close and interrelated relationship between financial stability and economic stability, as the discipline of one provides an opportunity for the other, covered by good monetary and fiscal policies.
Expressing their thanks and appreciation for the efforts made by the Union of Arab Banks to improve the process of Arab banking and protect it. Especially the Arab Banking Conference 2019 in Cairo, which shed light on the repercussions of political turmoil at the expense of Arab banking, and opened the way for Arab and foreign experts to present possible solutions in this field with the aim of strengthening the path of joint Arab action.
The participants sent a cable of thanks and appreciation to the President of the Arab Republic of Egypt, President and Government and the people for their generous hospitality and good reception, wishing Egypt and its good people stability and prosperity.
The annual Arab Banking Conference was held under the title 'Implications of political fluctuations in the course of banking work' under the patronage of the Governor of the Central Bank of Egypt, Tariq Hassan Amer, organized by the Union of Arab Banks, the Central Bank of Egypt and the Federation of Egyptian Banks, which witnessed the presence of 23 Arab and foreign countries.
Speaking during the opening session, the Governor of the Central Bank of Egypt, Tariq Hassan Amer, the Egyptian Minister of Finance Dr. Muhammad Ma’it, Sheikh Muhammad Jarrah Al-Sabah, President of the Federation of Arab Banks, Dr. Joseph Tarabieh, President of the International Federation of Arab Bankers, and Mohamed Atribi, member of the Board of Directors of the Federation of Egyptian Banks and Vice President of the Federation of Banks Arabia, Adnan Yousef, President of the Bahrain Banking Association, and Dr. Mahmoud Mohiuddin, First Vice President of the World Bank. The opening ceremony of the conference witnessed the honoring of the Governor of the Saudi Arabian Monetary Agency, Dr. Ahmed Abdul Karim Al-Khali in the Leadership Vision Award for 2019.
http://www.uabonline.org/en/news/arabicnews/15751604160515891575158516011575160415931585157616/70827/0
claud39- Elite Member
- Posts : 18423
Join date : 2018-11-04
Arab banks: warn of the impact of political fluctuations on banks and demand .. central .. hedging
by claud39 Mon Dec 16, 2019 9:26 am
Arab banks: warn of the impact of political fluctuations on banks and demand .. central .. hedging
16/12/2019
The annual Arab Banking Conference for the Union of Arab Banks was held under the title "Implications of political fluctuations in the course of banking work" under the auspices of the Governor of the Central Bank of Egypt Tariq Hassan Amer, organized by the Central Bank of Egypt and the Federation of Egyptian Banks, and witnessed the presence of 23 Arab and foreign countries.
The conference recommended the importance of consolidating the state of financial stability by opening Arab-Arab markets, especially in light of the stage that some of our Arab countries are going through by adopting a clear strategy that is in the interest of the Arab banking sector to consolidate the good reputation of our Arab banks in the world and monitor the developments of financial and new international banking in all Areas, especially in terms of capitalization, development of advanced technology, development of the banking services base, improvement of risk and crisis management mechanisms, and adherence to international banking standards.
Tariq Amer, Governor of the Central Bank of Egypt, stressed that political events in the region affect the work of central banks in light of the strong interdependence between the two sides, explaining that the Egyptian economy is greatly affected by events in the region in the presence of millions of Egyptians working in these countries, especially in Saudi Arabia and the UAE. He pointed out that the direct impact of political matters was embodied in several periods and countries, such as what Egypt witnessed in the early years of the current decade, as turmoil reflected economic indicators and led to a loss of confidence of local and international investors.
He explained that the volume of foreign exchange inflows that Egypt received during the last 4 years amounted to about 200 billion dollars, pointing out that the state's imposition of restrictions on foreign exchange during the pre-floating period had counterproductive results, and therefore all restrictions on the entry and exit of capital and results were canceled. Very good, explaining that the reactions to the fiscal and monetary policy were shocking, and there were freezes in the situation and the loosening of the financial policy, and waves of inflation were about to explode, as the monetary policy was unable to absorb the events and this was reflected on the exchange rates and interest rates, which lost the state's reserve Cash b BP desire to maintain price levels.
He stated that the lesson learned from this is that monetary policy be flexible in order to cope with these developments, and therefore the role of the central bank was changed after floating, and the local currency price was freed to restore the country's financial security and increase foreign exchange reserves to unprecedented levels.
Dr. Mohamed Moait, Minister of Finance, added that without the political stability in Egypt, the economic progress would not have been achieved, and the government would not have succeeded in implementing the reform program that started in 2015, and had recorded positive results that are still praised by international institutions.
In his speech delivered on behalf of Prime Minister Dr. Mostafa Madbouly, the Minister indicated that inflation rates decreased from 36% to 3.4% and the growth rate rose from 4.4% to 5.6% with a target of 7% by 2022, and the rise in foreign exchange reserves from 12 billion Dollars in 2014 to over $ 45 billion today.
He said that the Egyptian pound has become the second best currency in the world in terms of strength according to international institutions, and that Egypt is one of two countries in the world that achieved an initial surplus during the past fiscal year.
Sheikh Muhammad Al-Sabah, Chairman of the Board of Directors of the Union of Arab Banks, said that the federation played a pivotal role in developing the Arab banking industry to suit the Arab and international realities and enabling banking stability in the region. Al-Sabah clarified that the federation has promoted vital sectors, such as investment, tourism and trade, for their importance to the region as a whole, asking a question about the impact of political fluctuations in Arab countries on their economies, adding that the current conference will discuss these files and try to put in place measures to face challenges before it is too late. He praised the Egyptian economic reform program that succeeded in improving the indicators of the economy, transforming it into an economy based on sustainable growth, reducing the budget deficit and liberalizing the local currency exchange rate, pointing to the rise in the monetary reserve of more than 45 billion dollars in the current period.
Mahmoud Mohieldin, Vice President of the World Bank, said that Arab economic growth does not fully meet the aspirations, needs and aspirations of citizens, stressing the need to increase investment in human capital and prevent future risks by increasing economic growth.
He called for the necessity of combating poverty, as the region witnessed an increase in the rates of extreme poverty growth from 2.5% to 5% of the population, i.e. about 18 million citizens, and this is a catastrophe as he described, unlike the countries of the world until Africa, where the rates have improved.
He criticized the extreme disparity in the distribution of income and wealth in the Arab countries, and the disparity in the distribution of wealth in the Arab world is the worst in the world.
He pointed out that the digital transformation is one of the important tools for combating poverty and reducing its rates, and Arab countries have begun to pay attention to this matter, and it needs huge investments in infrastructure and security of systems and information, explaining that financial technology is not only applied at the level of banks, but there is a need to develop and keep pace with the regulatory sector for this The matter, as well as governments.
Joseph Tarabay, President of the International Federation of Arab Bankers, stressed that the decline in growth in the Arab countries and the quality of public services, and the decline in governance led to widespread corruption and illiteracy, and thus some Arab countries achieved low rates in human development indicators, explaining at the same time that opportunities are created from Womb of crises, and the Arab banking sector has become largely coherent with the support of Arab central banks.
He said that Arab banks have many capabilities, but they need to deepen cooperation to achieve development at the regional level, explaining that strengthening the climate for investment and intra-trade remains a central goal for Arab countries and banks, and despite its difficulty, this is not impossible.
Mohamed Al-Atribi, President of Banque Misr and Vice-President of the Federation of Arab Banks said that the past period witnessed an improvement in all indicators of the Egyptian economy, stressing that there were many problems that were addressed, explaining that this improvement in the economy came after taking two historical decisions, namely the liberalization of the exchange rate, and the implementation of the economic reform program with a fund International criticism, stressing that the situation has changed completely on all levels after that.
He estimated the volume of dollar resources obtained by his bank during the first 9 months of 2019 at about 13 billion dollars, pointing out that there is a great harmony between fiscal and monetary policy, which is in the interest of the country and contributed to the success of the economic reform program.
He added that foreign exchange reserves rose to the highest level ever, after it reached 45.2 billion dollars, and in earlier times it was 14 billion dollars.
http://www.uabonline.org/en/news/arabicnews/15751604160515891575158516011575160415931585157616/70869/1
16/12/2019
The annual Arab Banking Conference for the Union of Arab Banks was held under the title "Implications of political fluctuations in the course of banking work" under the auspices of the Governor of the Central Bank of Egypt Tariq Hassan Amer, organized by the Central Bank of Egypt and the Federation of Egyptian Banks, and witnessed the presence of 23 Arab and foreign countries.
The conference recommended the importance of consolidating the state of financial stability by opening Arab-Arab markets, especially in light of the stage that some of our Arab countries are going through by adopting a clear strategy that is in the interest of the Arab banking sector to consolidate the good reputation of our Arab banks in the world and monitor the developments of financial and new international banking in all Areas, especially in terms of capitalization, development of advanced technology, development of the banking services base, improvement of risk and crisis management mechanisms, and adherence to international banking standards.
Tariq Amer, Governor of the Central Bank of Egypt, stressed that political events in the region affect the work of central banks in light of the strong interdependence between the two sides, explaining that the Egyptian economy is greatly affected by events in the region in the presence of millions of Egyptians working in these countries, especially in Saudi Arabia and the UAE. He pointed out that the direct impact of political matters was embodied in several periods and countries, such as what Egypt witnessed in the early years of the current decade, as turmoil reflected economic indicators and led to a loss of confidence of local and international investors.
He explained that the volume of foreign exchange inflows that Egypt received during the last 4 years amounted to about 200 billion dollars, pointing out that the state's imposition of restrictions on foreign exchange during the pre-floating period had counterproductive results, and therefore all restrictions on the entry and exit of capital and results were canceled. Very good, explaining that the reactions to the fiscal and monetary policy were shocking, and there were freezes in the situation and the loosening of the financial policy, and waves of inflation were about to explode, as the monetary policy was unable to absorb the events and this was reflected on the exchange rates and interest rates, which lost the state's reserve Cash b BP desire to maintain price levels.
He stated that the lesson learned from this is that monetary policy be flexible in order to cope with these developments, and therefore the role of the central bank was changed after floating, and the local currency price was freed to restore the country's financial security and increase foreign exchange reserves to unprecedented levels.
Dr. Mohamed Moait, Minister of Finance, added that without the political stability in Egypt, the economic progress would not have been achieved, and the government would not have succeeded in implementing the reform program that started in 2015, and had recorded positive results that are still praised by international institutions.
In his speech delivered on behalf of Prime Minister Dr. Mostafa Madbouly, the Minister indicated that inflation rates decreased from 36% to 3.4% and the growth rate rose from 4.4% to 5.6% with a target of 7% by 2022, and the rise in foreign exchange reserves from 12 billion Dollars in 2014 to over $ 45 billion today.
He said that the Egyptian pound has become the second best currency in the world in terms of strength according to international institutions, and that Egypt is one of two countries in the world that achieved an initial surplus during the past fiscal year.
Sheikh Muhammad Al-Sabah, Chairman of the Board of Directors of the Union of Arab Banks, said that the federation played a pivotal role in developing the Arab banking industry to suit the Arab and international realities and enabling banking stability in the region. Al-Sabah clarified that the federation has promoted vital sectors, such as investment, tourism and trade, for their importance to the region as a whole, asking a question about the impact of political fluctuations in Arab countries on their economies, adding that the current conference will discuss these files and try to put in place measures to face challenges before it is too late. He praised the Egyptian economic reform program that succeeded in improving the indicators of the economy, transforming it into an economy based on sustainable growth, reducing the budget deficit and liberalizing the local currency exchange rate, pointing to the rise in the monetary reserve of more than 45 billion dollars in the current period.
Mahmoud Mohieldin, Vice President of the World Bank, said that Arab economic growth does not fully meet the aspirations, needs and aspirations of citizens, stressing the need to increase investment in human capital and prevent future risks by increasing economic growth.
He called for the necessity of combating poverty, as the region witnessed an increase in the rates of extreme poverty growth from 2.5% to 5% of the population, i.e. about 18 million citizens, and this is a catastrophe as he described, unlike the countries of the world until Africa, where the rates have improved.
He criticized the extreme disparity in the distribution of income and wealth in the Arab countries, and the disparity in the distribution of wealth in the Arab world is the worst in the world.
He pointed out that the digital transformation is one of the important tools for combating poverty and reducing its rates, and Arab countries have begun to pay attention to this matter, and it needs huge investments in infrastructure and security of systems and information, explaining that financial technology is not only applied at the level of banks, but there is a need to develop and keep pace with the regulatory sector for this The matter, as well as governments.
Joseph Tarabay, President of the International Federation of Arab Bankers, stressed that the decline in growth in the Arab countries and the quality of public services, and the decline in governance led to widespread corruption and illiteracy, and thus some Arab countries achieved low rates in human development indicators, explaining at the same time that opportunities are created from Womb of crises, and the Arab banking sector has become largely coherent with the support of Arab central banks.
He said that Arab banks have many capabilities, but they need to deepen cooperation to achieve development at the regional level, explaining that strengthening the climate for investment and intra-trade remains a central goal for Arab countries and banks, and despite its difficulty, this is not impossible.
Mohamed Al-Atribi, President of Banque Misr and Vice-President of the Federation of Arab Banks said that the past period witnessed an improvement in all indicators of the Egyptian economy, stressing that there were many problems that were addressed, explaining that this improvement in the economy came after taking two historical decisions, namely the liberalization of the exchange rate, and the implementation of the economic reform program with a fund International criticism, stressing that the situation has changed completely on all levels after that.
He estimated the volume of dollar resources obtained by his bank during the first 9 months of 2019 at about 13 billion dollars, pointing out that there is a great harmony between fiscal and monetary policy, which is in the interest of the country and contributed to the success of the economic reform program.
He added that foreign exchange reserves rose to the highest level ever, after it reached 45.2 billion dollars, and in earlier times it was 14 billion dollars.
http://www.uabonline.org/en/news/arabicnews/15751604160515891575158516011575160415931585157616/70869/1
claud39- Elite Member
- Posts : 18423
Join date : 2018-11-04
Khalaf: The Iraqi banking sector has a rich experience
by claud39 Mon Dec 16, 2019 4:22 pm
Khalaf: The Iraqi banking sector has a rich experience
16/12/2019
16/12/2019
Economy News - Baghdad:
A member of the Board of Directors of the Union of Arab Banks, Chairman of the Board of the Development Bank, Ziyad Khalaf, announced that the Iraqi banking sector has a rich experience that made it exceed the political and security conditions and fluctuations.
Khalaf said in his speech at the Arab Banking Conference that was held in Cairo, "This conference is taking place under difficult exceptional circumstances that the entire region is going through, especially in the countries of Iraq and Lebanon, and that this conference is of great importance as it is taking place on the margins of these conditions and their economic and financial implications in order to address the resulting effects And the implications of the reality and course of our Arab banking sector. "
He added that the current conditions require us to exert all our efforts to set a road map aimed at mitigating the effects of the expected shocks that will be resolved in the economies of our countries as a matter of national and professional responsibility.
Nationalism and the widening of the phenomenon of unemployment, therefore, these circumstances make it necessary for our banks to adopt conservative policies and strategies in the field of credit and lending in addition to activating the roles of oversight departments in a significant way and in what contributes to reading the economic situation and To Mali correctly and take the necessary measures and measures to activate contingency plans and alternative plans to ensure the continuity of the banking business and meet customer requests.
He stressed that the political conflicts and the security instability experienced by a number of Arab countries, including my own, Iraq are a result of the deteriorating and critical economic conditions that many Arab societies, particularly the youth group, suffer from, as 30 million Arab citizens are below the poverty line and the unemployment rate in the Arab world. It is 10% versus 5% globally.
He pointed out that banking in and of itself, regardless of time and place, necessarily implies risks, challenges and anxiety, in order to objectively link to capital investments, which are characterized by an absolute sensitivity to political, economic and security fluctuations.
And that the reality of the banking sector in Iraq and its rich experience through its confrontation with these conditions and political and security fluctuations and over the course of five decades where the banking sector went through many and various throats and was able to overcome them wisely and knowledgeable of the Iraqi banking leaders and cooperation with the Central Bank of Iraq, and despite the conditions and challenges that the banking sector faced, it was able Out of its contract and its effects and what helped in achieving its successes is the strength, durability and solidity of the Iraqi economy, and because of its large and well-known wealth, which it is hoped to invest and manage properly during the next stage.
He added that the skill of the banking leadership with inspiration and implementation of international banking standards issued by international banking institutions and follow-up to the periodic reports of the World Bank for Iraq made them overcome many difficulties, especially after legislation supportive, guaranteeing and immune to proper banking work, most notably the Anti-Money Laundering and the Financing of Terrorism Law, and other laws and instructions And the required standards.
Khalaf expressed his optimism about correcting the track and adopting the necessary reform programs to boost the economy and achieve the necessary economic development, as a result of the popular movement. A bright future awaits Iraq in particular, and the Arab world as a whole, with its great wealth requirements and the broad need to rebuild and rebuild with huge and massive investments.
http://economy-news.net/content.php?id=18536
claud39- Elite Member
- Posts : 18423
Join date : 2018-11-04
The Union of Arab Banks calls for "conservative" policies in credit and lending
by claud39 Tue Dec 17, 2019 1:16 pm
[size=35]The Union of Arab Banks calls for "conservative" policies in credit and lending[/size]
2019-12-16
[size=35]
[/size]
Khalaf said in his speech at the Arab Banking Conference that was held in Cairo, "This conference is taking place under difficult exceptional circumstances that the entire region is going through, especially in the countries of Iraq and Lebanon, noting that this conference is of great importance as it is taking place on the margins of these conditions and their economic and financial implications in order to address the effects The consequences and repercussions of the reality and course of our Arab banking sector. "
He added that the current conditions require us to exert all our efforts to set a road map aimed at mitigating the effects of the expected shocks that will be resolved in the economies of our countries as a matter of national and professional responsibility. Nationalism and the widening of the phenomenon of unemployment, therefore, these circumstances make it necessary for our banks to adopt conservative policies and strategies in the field of credit and lending in addition to activating the roles of oversight departments in a significant way and in what contributes to reading the economic situation and To Mali correctly and take the necessary measures and measures to activate contingency plans and alternative plans to ensure the continuity of the banking business and meet customer requests.
He stressed that the political conflicts and the security instability experienced by a number of Arab countries, including my own, Iraq are a result of the deteriorating and critical economic conditions that many Arab societies, particularly the youth group, suffer from, as 30 million Arab citizens are below the poverty line and the unemployment rate in the Arab world. It is 10% versus 5% globally.
He pointed out that banking in and of itself, regardless of time and place, necessarily implies risks, challenges and anxiety, in order to objectively link to capital investments, which are characterized by an absolute sensitivity to political, economic and security fluctuations.
And that the reality of the banking sector in Iraq and its rich experience through its confrontation with these conditions and political and security fluctuations and over the course of five decades where the banking sector went through many and various throats and was able to overcome them wisely and knowledgeable of the Iraqi banking leaders and cooperation with the Central Bank of Iraq, and despite the conditions and challenges that the banking sector faced, it was able Out of its contract and its effects and what helped in achieving its successes is the strength, durability and solidity of the Iraqi economy, and because of its large and well-known wealth, which it is hoped to invest and manage properly during the next stage.
He added that the skill of the banking leadership with inspiration and implementation of international banking standards issued by international banking institutions and follow-up to the periodic reports of the World Bank for Iraq made them overcome many difficulties, especially after legislation supportive, guaranteeing and immune to proper banking work, most notably the Anti-Money Laundering and the Financing of Terrorism Law, and other laws and instructions And the required standards.
Khalaf expressed his optimism about correcting the track and adopting the necessary reform programs to boost the economy and achieve the necessary economic development, as a result of the popular movement. A bright future awaits Iraq in particular, and the Arab world as a whole, with its great wealth requirements and the broad need to rebuild and rebuild with huge and massive investments.
https://www.alsumaria.tv/news/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF/328437/%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D9%8A%D8%AF%D8%B9%D9%88-%D8%A7%D9%84%D9%89-%D8%B3%D9%8A%D8%A7%D8%B3%D8%A7%D8%AA-%D9%85%D8%AA%D8%AD%D9%81%D8%B8%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84
2019-12-16
[size=35]
[/size]
Member of the Board of Directors of the Union of Arab Banks, Ziad Khalaf, announced that the Iraqi banking sector has a rich experience that made it transcend political and security conditions and fluctuations, while calling on banks to adopt conservative policies and strategies in the field of credit and lending.
Khalaf said in his speech at the Arab Banking Conference that was held in Cairo, "This conference is taking place under difficult exceptional circumstances that the entire region is going through, especially in the countries of Iraq and Lebanon, noting that this conference is of great importance as it is taking place on the margins of these conditions and their economic and financial implications in order to address the effects The consequences and repercussions of the reality and course of our Arab banking sector. "
He added that the current conditions require us to exert all our efforts to set a road map aimed at mitigating the effects of the expected shocks that will be resolved in the economies of our countries as a matter of national and professional responsibility. Nationalism and the widening of the phenomenon of unemployment, therefore, these circumstances make it necessary for our banks to adopt conservative policies and strategies in the field of credit and lending in addition to activating the roles of oversight departments in a significant way and in what contributes to reading the economic situation and To Mali correctly and take the necessary measures and measures to activate contingency plans and alternative plans to ensure the continuity of the banking business and meet customer requests.
He stressed that the political conflicts and the security instability experienced by a number of Arab countries, including my own, Iraq are a result of the deteriorating and critical economic conditions that many Arab societies, particularly the youth group, suffer from, as 30 million Arab citizens are below the poverty line and the unemployment rate in the Arab world. It is 10% versus 5% globally.
He pointed out that banking in and of itself, regardless of time and place, necessarily implies risks, challenges and anxiety, in order to objectively link to capital investments, which are characterized by an absolute sensitivity to political, economic and security fluctuations.
And that the reality of the banking sector in Iraq and its rich experience through its confrontation with these conditions and political and security fluctuations and over the course of five decades where the banking sector went through many and various throats and was able to overcome them wisely and knowledgeable of the Iraqi banking leaders and cooperation with the Central Bank of Iraq, and despite the conditions and challenges that the banking sector faced, it was able Out of its contract and its effects and what helped in achieving its successes is the strength, durability and solidity of the Iraqi economy, and because of its large and well-known wealth, which it is hoped to invest and manage properly during the next stage.
He added that the skill of the banking leadership with inspiration and implementation of international banking standards issued by international banking institutions and follow-up to the periodic reports of the World Bank for Iraq made them overcome many difficulties, especially after legislation supportive, guaranteeing and immune to proper banking work, most notably the Anti-Money Laundering and the Financing of Terrorism Law, and other laws and instructions And the required standards.
Khalaf expressed his optimism about correcting the track and adopting the necessary reform programs to boost the economy and achieve the necessary economic development, as a result of the popular movement. A bright future awaits Iraq in particular, and the Arab world as a whole, with its great wealth requirements and the broad need to rebuild and rebuild with huge and massive investments.
https://www.alsumaria.tv/news/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF/328437/%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D9%8A%D8%AF%D8%B9%D9%88-%D8%A7%D9%84%D9%89-%D8%B3%D9%8A%D8%A7%D8%B3%D8%A7%D8%AA-%D9%85%D8%AA%D8%AD%D9%81%D8%B8%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84
claud39- Elite Member
- Posts : 18423
Join date : 2018-11-04
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