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International symposium acknowledging the challenges facing the digital transformation of global financial institutions

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International symposium acknowledging the challenges facing the digital transformation of global financial institutions Empty International symposium acknowledging the challenges facing the digital transformation of global financial institutions

Post by claud39 on Sat Feb 22, 2020 6:58 am

International symposium acknowledging the challenges facing the digital transformation of global financial institutions


22/02/2020





International symposium acknowledging the challenges facing the digital transformation of global financial institutions Rc_158235358011_23







Experts at an international symposium hosted by Riyadh recognized the challenges facing the G20 countries for digital transformation in financial institutions and banking businesses, stressing the need to work on adapting the financial services industry and interacting with developments in improving financial and monetary policy and infrastructure aimed at financial inclusion. 


An international symposium on the sidelines of the G20 Summit, whose activities kicked off today in Riyadh at the level of finance ministers and bank governors of the G20 countries, discussed the challenges facing the movement of money and banking, the way to secure and protect them, and spreading a culture of dealing with them, stressing the need to digitize them safely in the context of challenges The digital transformation of financial institutions.

The participants stressed the need to work on adapting the financial services industry, with a rapidly changing scene while improving financial and monetary policy and infrastructure, oversight of financial systems and financial inclusion with the importance of coordination to correct the financial path so as to achieve stable and sustainable growth in the global economy.

Participants in the symposium held by the International Finance Institute in Riyadh yesterday, as part of the activities that are taking place on the sidelines of the G20 business, called for the importance of cooperation to strengthen the World Association for the Financial Industry and support the financial industry in prudent risk management, to develop sound industry practices, and to enhance regulatory, financial and economic policies that serve interests Of its members and achieve global financial stability and sustainable economic growth.

Participants stressed the importance of maximizing international capital and liquidity standards for banks and insurance companies, recovery and recovery policy issues, derivatives market rules, international standards of behavior, banking shadow, supervision and risk management, and accounting standards, stressing the importance of research to global expectations with a focus on major emerging economies, A timely analysis of capital flows to emerging markets and developments in international financial markets.

Participants in the symposium yesterday to confront the challenges of the digital transformation of financial institutions demanded that financial institutions adopt digital innovation to address changing market dynamics and destructive forces, such as open data, changing customer expectations, and not interfering in the value chain.

A number of executives, regulators and policy makers in the leading financial institutions worldwide stressed the necessity of promoting the digital transformation of financial institutions, spreading the culture of the meaning of digital transformation, and facing financial challenges of institutions over the journey of digital transformation.
Private sector leaders from across the IFC membership, including industry executives from companies covering financial services, stressed that these efforts reflect issues related to the G20’s agenda in Saudi Arabia, as well as critical issues affecting the financial services industry Global with a special focus on the Middle East and North Africa.







http://www.uabonline.org/en/news/arabicnews/16061583160815771583160816041610157715781602158515/73154/0
claud39
claud39
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