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THE ARAB MONETARY FUND ORGANIZES THE THIRD EXTRAORDINARY MEETING FROM A DISTANCE OF MANAGERS OF BANKING SUPERVISION AND FINANCIAL STABILITY IN CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS ON THE IMPLICATIONS OF THE CORONA VIRUS ON FINANCIAL STABILITY DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

THE ARAB MONETARY FUND ORGANIZES THE THIRD EXTRAORDINARY MEETING FROM A DISTANCE OF MANAGERS OF BANKING SUPERVISION AND FINANCIAL STABILITY IN CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS ON THE IMPLICATIONS OF THE CORONA VIRUS ON FINANCIAL STABILITY

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THE ARAB MONETARY FUND ORGANIZES THE THIRD EXTRAORDINARY MEETING FROM A DISTANCE OF MANAGERS OF BANKING SUPERVISION AND FINANCIAL STABILITY IN CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS ON THE IMPLICATIONS OF THE CORONA VIRUS ON FINANCIAL STABILITY Empty THE ARAB MONETARY FUND ORGANIZES THE THIRD EXTRAORDINARY MEETING FROM A DISTANCE OF MANAGERS OF BANKING SUPERVISION AND FINANCIAL STABILITY IN CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS ON THE IMPLICATIONS OF THE CORONA VIRUS ON FINANCIAL STABILITY

Post by claud39 on Wed May 06, 2020 2:40 pm

THE ARAB MONETARY FUND ORGANIZES THE THIRD EXTRAORDINARY MEETING FROM A DISTANCE OF MANAGERS OF BANKING SUPERVISION AND FINANCIAL STABILITY IN CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS ON THE IMPLICATIONS OF THE CORONA VIRUS ON FINANCIAL STABILITY




2020-05-05





THE ARAB MONETARY FUND ORGANIZES THE THIRD EXTRAORDINARY MEETING FROM A DISTANCE OF MANAGERS OF BANKING SUPERVISION AND FINANCIAL STABILITY IN CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS ON THE IMPLICATIONS OF THE CORONA VIRUS ON FINANCIAL STABILITY Logo-ar














Tuesday May 5, 2020




From 15:00 to 17:00 Abu Dhabi time

The meeting discusses:

Ways to reduce credit risk if the crisis persists until the end of the year

Means of intervention by central banks to enhance financial stability until the end of the year

The options available if the crisis continues beyond the end of this year

Assessing systemic risks that may threaten financial stability

The implications of the virus on the application of the requirements of the Basel III International Standard for Financial Reporting (IFRS9)

The impact of the Corona virus on the Islamic banking industry

 

 

The Arab Monetary Fund is organizing this third Tuesday (May 5) 2020, the third virtual meeting (virtual) to discuss the implications of the Corona virus on financial stability, banking supervision and credit information. 

The meeting will be attended by directors of the departments of financial stability, banking supervision and credit information at the central banks and Arab monetary institutions, in addition to the Arab Monetary Fund, which is responsible for the technical secretariat of the committees and work teams emanating from the Board of Governors of central banks and Arab monetary institutions.

 The meeting will also be attended by representatives of regional and international institutions such as the International Monetary Fund, the World Bank, the Financial Stability Institute, the Basel Committee for Banking Supervision, the International Accounting Standards Board, the Islamic Financial Services Council and the Islamic Development Bank.

 The holding of this meeting comes at a time when the Corona pandemic continues to spread worldwide, and the economic, social, financial and banking risks and ramifications are increasing. This unexpected situation has created additional pressure on supervisory and supervisory work, and the authorities are seeking to limit the negative impact of the virus implications on the financial and banking sector and its safety.

 In this context, the meeting is held in these exceptional circumstances, to discuss the implications of the Corona virus on the fundamentals of financial stability in the Arab countries. The meeting will contribute to dialogue and exchange of experiences on developing policies and tools related to enhancing financial stability in Arab countries, in order to reduce the effects of the virus. The meeting will also discuss the role of total precautionary policy tools in the current stage and the next stage until the end of the year, especially the capital and liquidity instruments.

On the other hand, the meeting will discuss a number of important topics that are important to the aspects of banking supervision, including the role of banking supervision in the next stage under the current circumstances, in addition to the proposed solutions regarding the challenges of implementing the International Financial Reporting Standard No. (9) at this stage and the next stage until the end Year. The meeting will also discuss the impact of the Corona virus on field inspection tasks. In addition to addressing the assessment of operational and cyber risks in the banking sector at the current stage, in light of the increased reliance on modern financial technologies in implementing banking operations.

    The attendees will hear presentations from the Financial Stability Institute, the International Accounting Standards Board, the Basel Committee for Banking Supervision and the Islamic Financial Services Council, on the latest developments regarding the implications of the Corona virus on the elements of financial stability, and aspects of banking supervision.

 

In this context, His Excellency the Director General of the Chairman of the Arab Monetary Fund pointed out that holding the extraordinary meeting comes to confirm that maintaining financial stability in the Arab countries is one of the priorities of the central banks and Arab monetary institutions, given the close financial stability linked to economic and social stability in the countries.

 His Excellency also affirmed the increasing interest shown by Excellencies and Governors of central banks and Arab monetary institutions for the work of the committees and work teams and the prominent role they play as a platform for dialogue and the transfer of knowledge and exchange of experiences and experiences between Arab countries regarding this important issue. His Excellency renewed his wishes to save our dear Arab countries and the world from this epidemic, and to quickly overcome the repercussions of this crisis.








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%D9%84%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%86%D8%A7%D8%A6%D9%8A-%D8%A7%D9%84%D8%AB%D8%A7%D9%84%D8%AB-%D8%B9%D9%86-%D8%A8%D8%B9%D8%AF-%D9%84%D9%85%D8%AF%D8%B1%D8%A7%D8%A1-%D8%A7%D9%84%D8%B1%D9%82%D8%A7%D8%A8%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%81%D9%8A%D8%A9-%D9%88%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D9%82%D8%B1%D8%A7%D8%B1
claud39
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THE ARAB MONETARY FUND ORGANIZES THE THIRD EXTRAORDINARY MEETING FROM A DISTANCE OF MANAGERS OF BANKING SUPERVISION AND FINANCIAL STABILITY IN CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS ON THE IMPLICATIONS OF THE CORONA VIRUS ON FINANCIAL STABILITY Empty THE ARAB MONETARY FUND ORGANIZES THE THIRD EXTRAORDINARY MEETING REMOTELY FOR MANAGERS OF FINANCIAL INCLUSION DEPARTMENTS, PAYMENT SYSTEMS AND FINANCIAL INFRASTRUCTURE IN CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS ON THE IMPLICATIONS OF THE CORONA VIRUS

Post by claud39 on Wed May 06, 2020 2:43 pm

THE ARAB MONETARY FUND ORGANIZES THE THIRD EXTRAORDINARY MEETING REMOTELY FOR MANAGERS OF FINANCIAL INCLUSION DEPARTMENTS, PAYMENT SYSTEMS AND FINANCIAL INFRASTRUCTURE IN CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS ON THE IMPLICATIONS OF THE CORONA VIRUS ON FINANCIAL SERVICES




 2020-05-06







THE ARAB MONETARY FUND ORGANIZES THE THIRD EXTRAORDINARY MEETING FROM A DISTANCE OF MANAGERS OF BANKING SUPERVISION AND FINANCIAL STABILITY IN CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS ON THE IMPLICATIONS OF THE CORONA VIRUS ON FINANCIAL STABILITY Logo-ar










Wednesday, May 6, 2020

From 15:00 to 17:00 Abu Dhabi time

The meeting discusses:

The role of the authorities in providing liquidity through the banking and non-banking sectors to enhance financing for small and medium-sized companies and the role of credit guarantees in light of the Coron crisis

 

Accelerate the transition to digital payments to support MSMEs and entrepreneurs in times of crisis

 

The Arab Monetary Fund is organizing this third Wednesday, 6 May 2020, the third extraordinary meeting from a distance to discuss the implications of the Corona virus on financial services and financial inclusion. Managers of financial inclusion departments, payment systems and digital financial infrastructure at central banks and Arab monetary institutions participate in the meeting, in addition to the Arab Monetary Fund, which is responsible for the technical secretariat of the committees and work teams emanating from the Board of Governors of central banks and Arab monetary institutions.


 Representatives from regional and international institutions such as the International Monetary Fund and the World Bank, the German Development Agency, the Global Financial Inclusion Alliance, the Islamic Development Bank, the Bill and Melinda Gates Foundation for Philanthropy, the United Nations Capital Development Fund and the International Mobile Network Association, as well as a group From international central banks and a number of Arab Monetary Fund partners in the areas of financial inclusion and payment systems.
 



The holding of this meeting comes at a time when the Corona pandemic continues to spread worldwide, and the economic, social, financial and banking risks and ramifications are increasing. This resulted in additional pressures on core financial services, and clearly highlighted the importance of accelerating the transition to digital financial services and the need to continue efforts to enhance access to finance and financial services.
 



The meeting will contribute to enhancing dialogue and exchanging experiences and experiences on developing policies and tools related to improving financial inclusion in Arab countries, in order to reduce the effects of the virus on families, individuals, and micro, small and medium-sized companies, especially on the sectors of microfinance, as well as discussing practices in microfinance institutions In order to suspend repayment, restructure existing loans and provide liquidity to their clients to manage the crisis. The meeting will also address international efforts and good practices in national credit guarantee programs and the role of authorities in Arab countries in this field,
 



On the other hand, the meeting will discuss the immediate solutions to support payments in the microfinance industry and mechanisms for converting to digital payments to support micro, small and medium enterprises and entrepreneurs in light of the effects of the Corona virus, and accelerate the transition to digital services in general.


 In addition, measures will be taken to reduce the gender gap in policy adoption to accelerate the digitization of payments and what central banks can do more effectively to ensure electronic payments from the government to people, from one person to another, and points of sale for digital financial services and e-commerce, and to pay Invoices. On the other hand, the meeting will discuss recovery prospects, mechanisms for digital financial transformation and promotion of digital financial services in Arab countries.


 

On this occasion, His Excellency the Director General of the Chairman of the Arab Monetary Fund, Dr. Abdul Rahman bin Abdullah Al-Hamidi, indicated that the holding of this extraordinary meeting comes to confirm that strengthening financial inclusion in the Arab countries is considered a priority for central banks and Arab monetary institutions, and what can contribute It includes financial inclusion in enhancing the capabilities of the financial sector to meet current challenges. 


His Excellency also affirmed the increasing interest shown by Excellencies and Governors of central banks and Arab monetary institutions for the work of the committees and work teams and the prominent role they play as a platform for dialogue, knowledge transfer and exchange of experiences and experiences between Arab countries regarding issues of financial inclusion. His Excellency renewed his wishes to save our dear Arab countries and the world from this epidemic, and to quickly overcome the repercussions of this crisis.





claud39
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