CATEGORIZING CLIENTS AND SCHEDULING FACILITIES ARE THE MOST PROMINENT RECOMMENDATIONS OF “ARAB MONETARY” TO CENTRAL BANKS TO CONFRONT THE PANDEMIC

by **claud39** Fri May 08, 2020 9:45 am

-08/2020

The Arab Monetary Fund has issued general guidelines on how central banks deal with the implications of the impact of the emerging Corona virus on financial stability, in the context of the Fund’s keenness to provide support to its member countries in the area of economic, financial and monetary reforms, which seek to enhance financial stability in the Arab region.

The guiding principles included a set of recommendations related to the central bank policy and strengthening the crisis management system, as it stressed the importance of continuing the central bank's policy to enhance economic activity while preserving the integrity of the financial system.

This is in addition to emphasizing the importance of forming a crisis management committee or a financial stability committee within the central bank under his chairmanship, to include in its membership representatives of the Ministry of Finance and the Securities Commission, to ensure coordination and cooperation between monetary policy, fiscal policy, and the total and partial precautionary policy, and to support monetary policy and policy Finance, partial precautionary policy, and college others.

On the other hand, the guiding principles emphasized the necessity of gradual application of the tools of the total precautionary policy in the current crisis and not to exaggerate the easing of the supervisory and precautionary requirements.

She noted the importance of central banks setting guidelines on how to use the ECL expected credit loss model in accordance with IFRS9, building allocations and classifying customers, and coordinating with the external auditor in this regard.

The principles recommended the importance of central banks to achieve balance in a measured manner and as much as possible, in the context of its endeavor to enhance financial stability. On the one hand, taking the necessary measures to protect the financial sector, and on the other hand, taking all means to protect the individuals and companies sector, especially micro, small and medium sized enterprises.

On the other hand, the guiding principles emphasized the necessity of strengthening the compliance system, risk management, combating money laundering and terrorist financing, and developing their methodologies to meet the challenges associated with the use of modern financial technologies in implementing banking operations.

The principles touched on the need to pay attention to promoting digital financial inclusion, enhancing digital financial awareness to the public, and launching large-scale campaigns remotely, in light of the increased reliance on modern financial technologies in the current crisis, and affirming the establishment of ways to enhance financial culture in coordination with educational institutions.

On the level of the credit information industry, the principles emphasized the need to protect the integrity and credibility of the credit reporting systems, as full participation in the provision of credit information must be continuously strengthened, including reporting negative credit data resulting from the crisis, and taking all means that limit the negative impact In the credit history of good customers, who have outstanding payments that could not be paid for circumstances beyond their control, resulted from the current crisis.

In this regard, the principles indicated the possibility of directing good customers to review their banks, within the methods of communication permitted during the crisis, and negotiate with them to reschedule the facilities, or it is possible to make a note in the credit report of the reasons for the failure of a good customer.

The guiding principles emphasized the need to prepare for the post-crisis period in terms of timing and progression of the suspension of what has been used of tools and procedures to mitigate the impact of this suspension, the speedy return of the economic cycle to its status and the maximization of the recovery effect.

The principles also touched on many aspects of financial stability issues, the most important of which are the regulatory and precautionary requirements, the risk management system, tests of overall and partial stress situations, work continuity plans, recovery plans, modern financial technologies, digital financial inclusion, and other aspects that enhance stability The financial.

In this context, Dr. Abd al-Rahman bin Abdullah Al-Hamidi, Director General of the Chairman of the Arab Monetary Fund, said that the issuance of guidelines on how central banks deal with the implications of the impact of the Corona Virus on the elements of financial stability comes to confirm that maintaining financial stability in countries Arab 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.

https://uabonline.org/%d8%aa%d8%b5%d9%86%d9%8a%d9%81-%d8%a7%d9%84%d8%b9%d9%85%d9%84%d8%a7%d8%a1-%d9%88%d8%ac%d8%af%d9%88%d9%84%d8%a9-%d8%a7%d9%84%d8%aa%d8%b3%d9%87%d9%8a%d9%84%d8%a7%d8%aa-%d8%a3%d8%a8%d8%b1%d8%b2-%d8%aa/

by **claud39** Fri May 08, 2020 9:50 am

THE ARAB MONETARY FUND ISSUES "GENERAL GUIDELINES ON HOW CENTRAL BANKS DEAL WITH THE IMPLICATIONS OF THE IMPACT OF THE EMERGING CORONA VIRUS ON FINANCIAL STABILITY"

2020-05-07

The guiding principles included many aspects of financial stability issues, most notably:

Developing crisis management governance within the central bank

Strengthening coordination between macro and micro prudential policies and economic policies

Progressive application of supervisory and precautionary requirements

Strengthening the risk management system of the financial sector

Raising levels of inclusion and digital financial awareness

The importance of maintaining the integrity and reliability of credit reports

Early preparation for the current post-crisis period

Within the framework of the Arab Monetary Fund’s keenness to provide support to its member states in the field of economic, financial and monetary reforms that seek to enhance financial stability in the Arab region, and in light of the discussions that took place in the numerous consultative meetings organized by the Fund during the months of April and May 2020 at the level of the Excellencies of the Governors of Banks Centralization and Arab monetary institutions, as well as at the level of members of the Arab Committee for Banking Supervision, the Financial Stability Task Force and the regional work team to promote financial inclusion and the Working Group on Modern Financial Technologies in the Arab Countries, the Arab Monetary Fund Waistcoat "general guidelines on how central banks deal with the implications of the impact of the virus Corona emerging financial stability."

In this context, the guiding principles included a set of recommendations related to the central bank policy and strengthening the crisis management system, as it stressed the importance of pursuing the central bank policy to enhance economic activity while preserving the integrity of the financial system, in addition to emphasizing the importance of forming a crisis management committee or a stability committee Mali within the central bank under his chairmanship, provided that it includes in its membership representatives of the Ministry of Finance and the Securities Commission, to ensure coordination and cooperation between monetary policy, financial policy, and total and partial precautionary policy. And that monetary policy, fiscal policy, partial and macro precautionary policy support each other.

On the other hand, the guiding principles emphasized the necessity of gradual application of the tools of the total precautionary policy in the current crisis and not to exaggerate the easing of the supervisory and precautionary requirements. She also indicated the importance of central banks setting guidelines on how to use the expected credit loss model (ECL) in accordance with the International Financial Reporting Standard (IFRS9) and building allocations and customer classification, and coordination with the external auditor in this regard.

In this context, the principles recommended the importance of central banks to achieve balance in a measured manner and as much as possible, in the framework of its efforts to enhance financial stability. On the one hand, taking the necessary measures to protect the financial sector, and on the other hand, taking all means to protect the individuals and companies sector, especially micro, small and medium sized enterprises.

On the other hand, the guidelines emphasized the need to strengthen the compliance system, manage risk, combat money laundering and terrorist financing, and develop their methodologies to address the challenges associated with the use of modern financial technologies in implementing banking operations.

In this context, the principles touched on the necessity of paying attention to promoting digital financial inclusion, enhancing digital financial awareness to the public, and launching large-scale campaigns remotely, in light of the increased reliance on modern financial technologies in the current crisis. It also stresses the establishment of ways to enhance financial culture in coordination with educational institutions.

On the level of credit information industry, the principles emphasized the need to protect the integrity and reliability of credit reporting systems, as full participation in the provision of credit information must be continuously strengthened, including reporting negative credit data resulting from the crisis, and taking all means that limit the negative impact On the credit record of good customers who have outstanding payments that cannot be made due to circumstances beyond their control, resulted from the current crisis. In this regard, the principles indicated that good customers can be directed to review their banks (within the permitted communication methods during the crisis) and negotiate with them to reschedule facilities, or it is possible to make a note in the credit report of the reasons for a good customer's default .

The guiding principles also stressed the need to prepare for the post-crisis period in terms of timing and progression of the suspension of what has been used of tools and procedures to mitigate the impact of this suspension, and the speedy return of the economic cycle to its status and maximize the impact of recovery.

The principles also touched on many aspects of financial stability issues, the most important of which are the regulatory and precautionary requirements, the risk management system, tests of overall and partial stress situations, business continuity plans, recovery plans, modern financial technologies, digital financial inclusion, and other aspects that enhance stability The financial.

In this context, His Excellency Dr. Abd Al-Rahman bin Abdullah Al-Hamidi, Director General of the Chairman of the Arab Monetary Fund, expressed his pleasure to issue guidelines on how central banks deal with the implications of the impact of the Corona virus on the fundamentals of financial stability, where the issuance of these principles comes to confirm that maintaining On financial stability in the Arab countries is considered 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 renewed his wishes to save our dear Arab countries and the world from this epidemic, and to quickly overcome the repercussions of this crisis.

For a review of the "Guiding Principles on how central banks deal with the implications of the impact of the Corona Virus on the fundamentals of financial stability".

Please go to the Arab Monetary Fund website at this link

https://www.amf.org.ae/ar/page/%D8%A3%D9%88%D8%B1%D8%A7%D9%82-%D8%A8%D8%AD%D8%AB%D9%8A%D8%A9

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%D8%B5%D8%AF%D8%B1-%D8%A7%D9%84%D9%85%D8%A8%D8%A7%D8%AF%D8%A6-%D8%A7%D9%84%D8%A5%D8%B1%D8%B4%D8%A7%D8%AF%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D8%A9-%D8%AD%D9%88%D9%84-%D9%83%D9%8A%D9%81%D9%8A%D8%A9-%D8%AA%D8%B9%D8%A7%D9%85%D9%84-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A%D8%A9-%D9%85%D8%B9-%D8%AA%D8%AF%D8%A7%D8%B9%D9%8A%D8%A7%D8%AA

by **claud39** Fri May 08, 2020 9:53 am

claud39 wrote:THE ARAB MONETARY FUND ISSUES "GENERAL GUIDELINES ON HOW CENTRAL BANKS DEAL WITH THE IMPLICATIONS OF THE IMPACT OF THE EMERGING CORONA VIRUS ON FINANCIAL STABILITY"

2020-05-07

The guiding principles included many aspects of financial stability issues, most notably:

Developing crisis management governance within the central bank

Strengthening coordination between macro and micro prudential policies and economic policies

Progressive application of supervisory and precautionary requirements

Strengthening the risk management system of the financial sector

Raising levels of inclusion and digital financial awareness

The importance of maintaining the integrity and reliability of credit reports

Early preparation for the current post-crisis period

Within the framework of the Arab Monetary Fund’s keenness to provide support to its member states in the field of economic, financial and monetary reforms that seek to enhance financial stability in the Arab region, and in light of the discussions that took place in the numerous consultative meetings organized by the Fund during the months of April and May 2020 at the level of the Excellencies of the Governors of Banks Centralization and Arab monetary institutions, as well as at the level of members of the Arab Committee for Banking Supervision, the Financial Stability Task Force and the regional work team to promote financial inclusion and the Working Group on Modern Financial Technologies in the Arab Countries, the Arab Monetary Fund Waistcoat "general guidelines on how central banks deal with the implications of the impact of the virus Corona emerging financial stability."

In this context, the guiding principles included a set of recommendations related to the central bank policy and strengthening the crisis management system, as it stressed the importance of pursuing the central bank policy to enhance economic activity while preserving the integrity of the financial system, in addition to emphasizing the importance of forming a crisis management committee or a stability committee Mali within the central bank under his chairmanship, provided that it includes in its membership representatives of the Ministry of Finance and the Securities Commission, to ensure coordination and cooperation between monetary policy, financial policy, and total and partial precautionary policy. And that monetary policy, fiscal policy, partial and macro precautionary policy support each other.

On the other hand, the guiding principles emphasized the necessity of gradual application of the tools of the total precautionary policy in the current crisis and not to exaggerate the easing of the supervisory and precautionary requirements. She also indicated the importance of central banks setting guidelines on how to use the expected credit loss model (ECL) in accordance with the International Financial Reporting Standard (IFRS9) and building allocations and customer classification, and coordination with the external auditor in this regard.

In this context, the principles recommended the importance of central banks to achieve balance in a measured manner and as much as possible, in the framework of its efforts to enhance financial stability. On the one hand, taking the necessary measures to protect the financial sector, and on the other hand, taking all means to protect the individuals and companies sector, especially micro, small and medium sized enterprises.

On the other hand, the guidelines emphasized the need to strengthen the compliance system, manage risk, combat money laundering and terrorist financing, and develop their methodologies to address the challenges associated with the use of modern financial technologies in implementing banking operations.

In this context, the principles touched on the necessity of paying attention to promoting digital financial inclusion, enhancing digital financial awareness to the public, and launching large-scale campaigns remotely, in light of the increased reliance on modern financial technologies in the current crisis. It also stresses the establishment of ways to enhance financial culture in coordination with educational institutions.
On the level of credit information industry, the principles emphasized the need to protect the integrity and reliability of credit reporting systems, as full participation in the provision of credit information must be continuously strengthened, including reporting negative credit data resulting from the crisis, and taking all means that limit the negative impact On the credit record of good customers who have outstanding payments that cannot be made due to circumstances beyond their control, resulted from the current crisis. In this regard, the principles indicated that good customers can be directed to review their banks (within the permitted communication methods during the crisis) and negotiate with them to reschedule facilities, or it is possible to make a note in the credit report of the reasons for a good customer's default .
The guiding principles also stressed the need to prepare for the post-crisis period in terms of timing and progression of the suspension of what has been used of tools and procedures to mitigate the impact of this suspension, and the speedy return of the economic cycle to its status and maximize the impact of recovery.

The principles also touched on many aspects of financial stability issues, the most important of which are the regulatory and precautionary requirements, the risk management system, tests of overall and partial stress situations, business continuity plans, recovery plans, modern financial technologies, digital financial inclusion, and other aspects that enhance stability The financial.

In this context, His Excellency Dr. Abd Al-Rahman bin Abdullah Al-Hamidi, Director General of the Chairman of the Arab Monetary Fund, expressed his pleasure to issue guidelines on how central banks deal with the implications of the impact of the Corona virus on the fundamentals of financial stability, where the issuance of these principles comes to confirm that maintaining On financial stability in the Arab countries is considered 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 renewed his wishes to save our dear Arab countries and the world from this epidemic, and to quickly overcome the repercussions of this crisis.

For a review of the "Guiding Principles on how central banks deal with the implications of the impact of the Corona Virus on the fundamentals of financial stability".

Please go to the Arab Monetary Fund website at this link

https://www.amf.org.ae/ar/page/%D8%A3%D9%88%D8%B1%D8%A7%D9%82-%D8%A8%D8%AD%D8%AB%D9%8A%D8%A9

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%D8%B5%D8%AF%D8%B1-%D8%A7%D9%84%D9%85%D8%A8%D8%A7%D8%AF%D8%A6-%D8%A7%D9%84%D8%A5%D8%B1%D8%B4%D8%A7%D8%AF%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D8%A9-%D8%AD%D9%88%D9%84-%D9%83%D9%8A%D9%81%D9%8A%D8%A9-%D8%AA%D8%B9%D8%A7%D9%85%D9%84-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A%D8%A9-%D9%85%D8%B9-%D8%AA%D8%AF%D8%A7%D8%B9%D9%8A%D8%A7%D8%AA

RESEARCH PAPERS

[th]Address[/th]

[rtl]General guidelines on "how central banks deal with the implications of the impact of the emerging Corona virus on financial stability"
[/rtl]

[rtl]Financial inclusion in the era of technology-based globalization: small cross-border payments and their prospects in Arab countries[/rtl]

[rtl]Enhance the safety and efficiency of electronic operations of financial infrastructure systems[/rtl]

[rtl]Digital ID and online customer knowledge rules[/rtl]

[rtl]Family corporate governance in Arab countries[/rtl]

[rtl]Crowdfunding platforms: prospects and regulatory frameworks[/rtl]

[rtl]The efforts of Arab countries in the field of combating money laundering and terrorist financing[/rtl]

[rtl]FIARI: Financial Inclusion Initiative: Achievements of 2018[/rtl]

[rtl]Governance of central banks and monetary institutions: the experiences of Arab countries[/rtl]

[rtl]The impact of Islamic financial services on financial inclusion in Arab countries[/rtl]

[rtl]Experiences of early warning systems with central banks and Arab monetary institutions (forecasting financial crises)[/rtl]

[rtl]Guidance on the rights of users of credit reporting services[/rtl]

[rtl]Control and supervisory procedures for dealing with weak banks[/rtl]

[rtl]Requirements for issuing a domestic index for financial stability in the Arab countries - the experience of the Hashemite Kingdom of Jordan[/rtl]

[rtl]Use of credit information for the purposes of supervision and control in Arab countries[/rtl]

[rtl]Motivating banks to finance startups, the experience of the Bank of Lebanon[/rtl]

[rtl]The risks of electronic financial crime and its effects on payment systems[/rtl]

[rtl]The digital revolution and its implications for the banking system and financial stability. The risks of financial innovation[/rtl]

[rtl]Empowering women financially and banking[/rtl]

[rtl]Apply a stable net financing ratio according to Basel III[/rtl]

https://www.amf.org.ae/ar/page/%D8%A3%D9%88%D8%B1%D8%A7%D9%82-%D8%A8%D8%AD%D8%AB%D9%8A%D8%A9

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%D8%B5%D8%AF%D8%B1-%D8%A7%D9%84%D9%85%D8%A8%D8%A7%D8%AF%D8%A6-%D8%A7%D9%84%D8%A5%D8%B1%D8%B4%D8%A7%D8%AF%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D8%A9-%D8%AD%D9%88%D9%84-%D9%83%D9%8A%D9%81%D9%8A%D8%A9-%D8%AA%D8%B9%D8%A7%D9%85%D9%84-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A%D8%A9-%D9%85%D8%B9-%D8%AA%D8%AF%D8%A7%D8%B9%D9%8A%D8%A7%D8%AA

by **claud39** Fri May 08, 2020 9:55 am

THE ARAB MONETARY FUND ORGANIZES THE EIGHTH WORKSHOP "REMOTELY" TO ENROLL BANKS WITH A WIDE PARTICIPATION OF ARAB AND INTERNATIONAL BANKS TO DISCUSS THE BUSINESS MODEL OF THE "BUILT" PLATFORM
2020-05-07

After announcing the launch of the "Beni" platform for Arab payments of the regional institution for the clearing and settlement of Arab payments owned by the Arab Monetary Fund, the Arab Monetary Fund continues its efforts in following up the process of procedures for attaching central and commercial banks to the platform. In this context, the Arab Monetary Fund is organizing the fifth workshop, "Remote", to join banks (the eighth in a series of communication workshops with banks) this Thursday, May 7, in which senior officials from more than 75 banks operating in the Arab region and outside it will participate. , Which has indicated its willingness to join the platform in the early stages of its launch.

The workshop discusses the "Beni" platform business model and addresses the process of financing and returning funds for participants' accounts, in addition to the business model for clearing and settlement services in Arab currencies and international currencies via the platform. Discussions also cover the most important features offered by the platform that will enable the participants to develop and enhance their services.

This workshop is considered the fifth leg of a series of focused workshops, which address several strategic issues and are organized over a number of weeks digitally from a distance, given the current situation.

It is worth noting that the "Bani" platform represents a multi-currency payment platform that provides clearing and settlement services in Arab currencies and international currencies that meet the eligibility requirements, for clearing and settling inter-Arab financial transactions as well as financial transactions between Arab countries and the main trading partners of the Arab countries. The platform aims to enable financial and banking institutions in the Arab region, including central and commercial banks, to send and receive inter-payments across the Arab region and beyond in a safe and reliable manner at an appropriate cost and high effectiveness. The Bani platform provides participants with modern payment solutions that comply with international standards, principles and international compliance requirements. The platform contributes to enhancing opportunities for economic and financial integration in the Arab region and supporting investment links with the trading partners of Arab countries on various continents.

It is mentioned that the platform is available to all banks that meet the criteria and conditions for participation in it, at the forefront of which are the standards and procedures for compliance aspects.

On this occasion, His Excellency the Director General of the Board of Directors of the Arab Monetary Fund, Dr. Abdul Rahman bin Abdullah Al-Hamidi, expressed his pleasure at continuing to hold workshops with banks to enhance the partnership with banks and financial and banking institutions in benefiting from the services and products provided by the "Beni" platform for Arab payments. His Excellency also renewed his sincere appreciation and gratitude to the Excellencies and Governors of the central banks and Arab monetary institutions for their support to the Fund's efforts in establishing the platform.

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-%D9%88%D8%B1%D8%B4%D8%A9-%D8%A7%D9%84%D8%B9%D9%85%D9%84-%D8%A7%D9%84%D8%AB%D8%A7%D9%85%D9%86%D8%A9-%D8%B9%D9%86-%D8%A8%D8%B9%D8%AF-%D9%84%D8%A7%D9%84%D8%AD%D8%A7%D9%82-%D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83-%D9%85%D8%B4%D8%A7%D8%B1%D9%83%D8%A9-%D9%88%D8%A7%D8%B3%D8%B9%D8%A9-%D9%85%D9%86-%D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83

CATEGORIZING CLIENTS AND SCHEDULING FACILITIES ARE THE MOST PROMINENT RECOMMENDATIONS OF “ARAB MONETARY” TO CENTRAL BANKS TO CONFRONT THE PANDEMIC

CATEGORIZING CLIENTS AND SCHEDULING FACILITIES ARE THE MOST PROMINENT RECOMMENDATIONS OF “ARAB MONETARY” TO CENTRAL BANKS TO CONFRONT THE PANDEMIC

THE ARAB MONETARY FUND ISSUES "GENERAL GUIDELINES ON HOW CENTRAL BANKS DEAL WITH THE IMPLICATIONS OF THE IMPACT OF THE EMERGING CORONA VIRUS ON FINANCIAL STABILITY"

Re: CATEGORIZING CLIENTS AND SCHEDULING FACILITIES ARE THE MOST PROMINENT RECOMMENDATIONS OF “ARAB MONETARY” TO CENTRAL BANKS TO CONFRONT THE PANDEMIC

THE ARAB MONETARY FUND ORGANIZES THE EIGHTH WORKSHOP "REMOTELY" TO ENROLL BANKS WITH A WIDE PARTICIPATION OF ARAB AND INTERNATIONAL BANKS TO DISCUSS THE BUSINESS MODEL OF THE "BUILT" PLATFORM