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THE ARAB MONETARY FUND ORGANIZES THE SECOND EXTRAORDINARY MEETING OF THE ARAB CREDIT INFORMATION COMMITTEE ON THE IMPLICATIONS OF THE CORONA VIRUS ON THE CREDIT INFORMATION INDUSTRY DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

THE ARAB MONETARY FUND ORGANIZES THE SECOND EXTRAORDINARY MEETING OF THE ARAB CREDIT INFORMATION COMMITTEE ON THE IMPLICATIONS OF THE CORONA VIRUS ON THE CREDIT INFORMATION INDUSTRY

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THE ARAB MONETARY FUND ORGANIZES THE SECOND EXTRAORDINARY MEETING OF THE ARAB CREDIT INFORMATION COMMITTEE ON THE IMPLICATIONS OF THE CORONA VIRUS ON THE CREDIT INFORMATION INDUSTRY Empty THE ARAB MONETARY FUND ORGANIZES THE SECOND EXTRAORDINARY MEETING OF THE ARAB CREDIT INFORMATION COMMITTEE ON THE IMPLICATIONS OF THE CORONA VIRUS ON THE CREDIT INFORMATION INDUSTRY

Post by claud39 on Mon Jul 06, 2020 11:56 am

THE ARAB MONETARY FUND ORGANIZES THE SECOND EXTRAORDINARY MEETING OF THE ARAB CREDIT INFORMATION COMMITTEE ON THE IMPLICATIONS OF THE CORONA VIRUS ON THE CREDIT INFORMATION INDUSTRY


2020-07-02



THE ARAB MONETARY FUND ORGANIZES THE SECOND EXTRAORDINARY MEETING OF THE ARAB CREDIT INFORMATION COMMITTEE ON THE IMPLICATIONS OF THE CORONA VIRUS ON THE CREDIT INFORMATION INDUSTRY Logo-ar












The time is 16:00 to 17:00 Abu Dhabi time

The participants discuss:

The latest international developments related to the impact of the virus on the credit information industry

Methods of dealing with credit reports in light of the current crisis

Means of limiting the negative impact of the virus on the credit rating of bank customers

Promote digital access to credit information  

 

 

Today, Thursday, July 2, 2020, the Arab Monetary Fund is organizing the extraordinary meeting of the Arab Credit Information Commission (REM) to discuss the implications of the Corona virus on the credit information industry. Credit information managers at central banks, Arab monetary institutions and licensed credit information companies, in addition to the Arab Monetary Fund, who is in charge of the technical secretariat of the committees and work teams emanating from the Board of Governors of central banks and Arab monetary institutions, participate in the meeting.



The holding of this meeting comes within the framework of the continuous dialogue of the supervisory authorities in the Arab countries under the auspices of the Arab Monetary Fund to discuss the economic, financial and banking implications of the Corona pandemic, and the reflection of that supervisory and supervisory work, including dealing with credit information, as the authorities seek to limit the negative impact of the consequences of the pandemic of the virus On the information industry and credit reports.
In this context, the meeting is held in these exceptional circumstances and the second of its kind, to discuss the implications of the Corona virus on the credit information industry in the Arab countries.



 The meeting will contribute to dialogue and exchange of experiences on ways to reduce the negative impact of the virus on the customer's credit rating. The President of the International Credit Information Committee, and the Director of the Department of Financial Inclusion and Empowering Small and Medium Enterprises to Access Credit, Infrastructure and Innovation at the World Bank Group will participate in the meeting, who will give a presentation on the latest developments related to the impact of Corona virus on the credit information industry, and how to address the delay in payment Due due to the crisis for good clients whose incomes were affected by the crisis. In this context, several issues will be discussed that include:



In this regard, His Excellency the Director General of the Chairman of the Arab Monetary Fund, Dr. Abdul Rahman bin Abdullah Al-Hamidi, pointed out that holding the extraordinary meeting reflects the great importance of credit information in maintaining financial stability in the Arab countries, which is considered a priority for central banks and Arab monetary institutions.



 His Excellency praised the existing cooperation between the Arab Committee and the International Committee and the importance of cooperation in exchanging experiences and transferring knowledge, stressing the increased interest shown by Excellencies and Governors of central banks and Arab monetary institutions for the work of committees and work teams and the prominent role they play as a platform for dialogue and transfer of knowledge and exchange of experiences and experiences between Arab countries With regard to this important topic. 



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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THE ARAB MONETARY FUND ORGANIZES THE SECOND EXTRAORDINARY MEETING OF THE ARAB CREDIT INFORMATION COMMITTEE ON THE IMPLICATIONS OF THE CORONA VIRUS ON THE CREDIT INFORMATION INDUSTRY Empty THE ARAB MONETARY FUND, IN COOPERATION WITH THE FINANCIAL STABILITY TASK FORCE IN THE ARAB COUNTRIES, LAUNCHES THE ARAB FINANCIAL STABILITY INDEX

Post by claud39 on Mon Jul 06, 2020 11:59 am

THE ARAB MONETARY FUND, IN COOPERATION WITH THE FINANCIAL STABILITY TASK FORCE IN THE ARAB COUNTRIES, LAUNCHES THE ARAB FINANCIAL STABILITY INDEX


2020-07-01





THE ARAB MONETARY FUND ORGANIZES THE SECOND EXTRAORDINARY MEETING OF THE ARAB CREDIT INFORMATION COMMITTEE ON THE IMPLICATIONS OF THE CORONA VIRUS ON THE CREDIT INFORMATION INDUSTRY Logo-ar












The value of the index increased during the year 2019

Continuous efforts of the central banks and Arab monetary institutions towards strengthening financial stability

The strength of banking sector indicators in the Arab countries, despite the risks and challenges

The flexibility of the banking sector and its ability to absorb financial shocks  

The improvement of economic indicators and capital market indicators reflected positively on the index of financial stability during 2019

Credit facilities are directed towards productive economic sectors  

 



The Arab Monetary Fund, in cooperation with the Financial Stability Task Force in the Arab Countries, launched the Arab Financial Stability Index (AFSI)For the period (2015-2019). The launch of this annual indicator comes in light of the importance of a quantitative index that measures the level of financial stability objectively and acts as a tool for guidance and early warning, as it informs decision-makers and policymakers about the possibility of the financial system being exposed to a financial crisis before it occurs, to take the necessary preventive and proactive policies and measures. 



The index also allows the process of assessing the integrity of the financial system to be based on quantitative and objective measures, and helps establish the principle of transparency and disclosure, and the availability of various information to the market and dealers with the financial system, while paying attention to the systemic risks to which the financial system as a whole is exposed, in addition to monitoring the development Some important variables and compare them over time (by drawing a risk map). Where the financial stability index is a supplementary tool for early warning systems and stress tests, through what it reflects and determines the degree of risk or fluctuations in the financial system.
 



The Arab Financial Stability Index consists of four main indicators that include: the banking sector index (10 sub indicators), the macroeconomic index (6 sub indicators), the capital market index (two sub indicators) and the financial cycle index (one sub-index). Relative weights were established for these indicators in light of the consultations that took place among members of the Financial Stability Task Force in the Arab countries. It should be noted that the value of the index ranges between zero and one, and the closer the value approaches one (100 per cent), the higher the degree of financial stability, knowing that the financial stability index according to international experiences is very sensitive.
 

In this context, the value of the Arab Financial Stability Index at the end of 2019 was about 56.4 percent, compared to 54.8 percent at the end of 2018, knowing that the value of the index reached 52.7 percent, 40.6 percent and 32.1 percent at the end of the years 2017, 2016 and 2015, respectively. The results of the indicator analysis indicated that there is a general trend in Arab countries towards adopting conservative precautionary policies that contributed to enhancing financial stability. 



The index results also reflected the strength and resilience of the Arab banking sector and its ability to absorb potential financial shocks, despite a number of risks and challenges. In addition to improving the operational efficiency of the banking sector by achieving good profitability and dependence on the bank’s main business, in light of improved operating expenses ratios to total income, net interest margin to total income, rates of return on assets and equity.
 

In the same context, the rise of the index during the year 2019 is also a result of the application of the Arab banking sector to the requirements of Basel III and the International Financial Reporting Standard No. 9, which reflected positively on banking sector indicators, as it contributed to raising the value of the Arab financial stability index during 2018 and 2019, in light of The capital and liquidity requirements are in accordance with Basel III standardTwo important tools that enhance the ability of banks to withstand financial and economic shocks and the high risks they can be exposed to. 



The rise reflected the interest in financial solvency by the supervisory authorities because of its great importance for the safety of the financial positions of banks. It also measures the capital and liquidity requirements, and the ability of the bank to absorb losses, which reflects positively on the integrity and durability of the bank's financial position. 



In this regard, it is mentioned that one of the most important amendments within the Basel Standard Ⅲ is to enhance and improve the quality and quantity of capital in banks through the maintenance of high-quality and high-quality capital by banks with a high ability to face risks and absorb losses.  
 

On the other hand, the results of the analysis of the credit gap of the Arab banking sector showed that credit facilities are directed more towards productive economic sectors than consumer, which reflects positively on economic growth and the enhancement of financial inclusion. 



The results of the index analysis also showed a positive impact of macroeconomic indicators and a greater impact of capital market indicators on the financial stability index, this reflects the presence of economic stability and improvement in economic activities, an increase in the capital of companies listed in the capital markets, the flow of new foreign investment, and the strengthening of investor confidence .
 



It is worth noting that the Arab Monetary Fund and the Financial Stability Task Force in the Arab countries will continue to evaluate and review the methodology of the Arab Financial Stability Index, taking into account the developments and developments that may occur in this regard.



 Despite the great challenges of the repercussions of the Corona pandemic and its repercussions on financial stability, which may affect the performance of the index for the year 2020, the elements of financial stability in the Arab countries indicate the ability of the banking sector to absorb the shocks of these repercussions.
 



On this occasion, His Excellency the Director General of the Arab Monetary Fund Board Chairman Abdul Rahman bin Abdullah Al Hamidi expressed his pleasure to launch the Arab Financial Stability Index, which aims to provide a proactive tool for central banks and Arab monetary institutions to enhance financial stability and assess systemic risks in the financial sector in general And the bank, in particular, to enhance the role of the financial sector in achieving sustainable development .



 His Excellency pointed out that the launch of this indicator came in cooperation with the Financial Stability Task Force in the Arab countries emanating from the Board of Governors of Central Banks and Arab Monetary Institutions, stressing the importance of continuing efforts to develop the index to keep pace with developments and developments related to financial stability issues, to provide a clear picture of the financial stability situation In Arab countries, the determinants and challenges they face in the context of the supervisory authorities' efforts to achieve financial stability, to contribute to supporting the precautionary decisions that contribute to the safety and viability of the Arab financial and banking sector.









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