THE ARAB MONETARY FUND ORGANIZES A HIGH-LEVEL "REMOTE" MEETING OF INSURANCE SUPERVISORY BODIES AND CENTRAL BANKS IN ARAB COUNTRIES

by **claud39** Sat Oct 31, 2020 8:56 am

THE ARAB MONETARY FUND ORGANIZES A HIGH-LEVEL "REMOTE" MEETING OF INSURANCE SUPERVISORY BODIES AND CENTRAL BANKS IN ARAB COUNTRIES
2020-10-29

Thursday, 29 October 2020

From 14:00 to 16:30 Abu Dhabi time

The assembled are discussing

The reality of the insurance sector in the global financial system in light of the current crisis

Requirements to strengthen supervision of the insurance sector and the extent of the need to strengthen the institutional framework

The role of the insurance sector in enhancing financial stability in the Arab countries

Risks, challenges and opportunities facing the insurance sector in post-crisis Arab countries

Regional cooperation between insurance oversight bodies

Today, Thursday, October 29, 2020, the Arab Monetary Fund is organizing a high-level "remote" meeting for heads of insurance supervisory bodies in Arab countries, with the participation of central banks and Arab monetary institutions, to discuss the framework for assessing and mitigating systemic risks in the insurance sector in light of the Corona pandemic, in addition to the reality And the challenges of the insurance industry in the Arab countries.

The meeting will be attended by Excellencies, heads of bodies or departments concerned with supervising insurance in Arab countries, senior officials concerned with the insurance sector, directors of financial stability departments at central banks and Arab monetary institutions, and representatives of regional and international institutions, especially the Arab Union of Insurance Supervisors, the International Union of Insurance Supervisors and the World Bank Group. In addition to the Arab Monetary Fund.

The meeting will discuss the reality of the insurance sector in the global financial system in light of the Corona pandemic, the challenges, risks and opportunities it faces, and the impact of the repercussions of climate and natural disasters on it, in addition to how to assess the systemic risks arising from the insurance sector, the main indicators for evaluating its performance, and its role in enhancing financial inclusion and financial stability In Arab Countries.

The meeting will also address the reality of the insurance and reinsurance sector in the Arab countries in light of the Corona pandemic, including the risks, challenges and opportunities facing the insurance sector, and ways and means to expand and enhance the coverage of individuals and companies with official insurance services . The meeting will also address the institutional framework for overseeing the insurance sector, cooperation with central banks, as well as regional cooperation between insurance oversight bodies in the Arab world.

The discussion also deals with ways to benefit from modern financial technologies in developing the insurance industry and services in the Arab countries, and the role of that in enhancing access to insurance services and developing the non-banking financial sector.

In this context, His Excellency the Director General and Chairman of the Board of Directors of the Arab Monetary Fund, Dr. Abdulrahman bin Abdullah Al-Hamidi, indicated that holding this high-level meeting comes to enhance dialogue and consultation between the supervisory and supervisory authorities and senior officials concerned with the insurance sector on the impact of the emerging coronavirus pandemic on the sector.

Insurance in the Arab region and discuss the challenges and prospects, as part of the endeavors to maintain economic and financial stability in the Arab countries. His Excellency also stressed the importance of these meetings in transferring knowledge and exchanging experiences and expertise among Arab countries on the economic and financial implications in light of these developments. His Excellency also expressed his aspiration to upgrade cooperation and partnership with both the Arab Union of Insurance Supervisors and the International Union of Insurance Supervisors.

https://www.amf.org.ae/ar/content/%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%D9%86%D8%B8%D9%85-%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9%D8%A7%D9%8B-%D8%B9%D8%A7%D9%84%D9%8A-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D9%88%D9%89-%D8%B9%D9%86-%D8%A8%D8%B9%D8%AF-%D9%84%D9%87%D9%8A%D8%A6%D8%A7%D8%AA-%D8%A7%D9%84%D8%A5%D8%B4%D8%B1%D8%A7%D9%81-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D8%AA%D8%A3%D9%85%D9%8A%D9%86-%D9%88%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81