Union of Arab Banks Participates in Council of Arab Central Banks Meeting in Algeria

The Union of Arab Banks announced today the participation of a high-level delegation in the meetings of the 47th session of the Council of Governors of Arab Central Banks and Monetary Authorities' Governors, which is organized by the Arab Monetary Fund (AMF), with the participation of governors of Arab central banks, international supervisory bodies and the International Monetary Fund on Sunday in Algeria.

According to the Union’s statement today, the delegation participating in the meetings included Mohamed Al-Etreby, Chairman of the Board of Directors of the Union of Arab Banks, and Wissam Fattouh, Secretary-General of the Union of Arab Banks, including Hassan Abdullah, Governor of the Central Bank of Egypt (CBE), participating in the meetings.

During the meetings yesterday, the President of the Union and the Secretary-General met with governors of Arab central banks, heads of international regulatory bodies, and Arab banking leaders.

According to the statement, the Union delegation discussed areas of cooperation between the Union of Arab Banks on the one hand, and the banking supervisory and regulatory authorities on the other hand, and discussed common issues, especially with regard to new international banking legislation and rules, most notably compliance issues, and how to apply them before Arab banks.

Union officials also discussed with some Gulf central bank governors the work of the regional headquarters office of the Union of Arab Banks in Riyadh, which was officially opened this month during the 2023 Gulf Banking Conference and the role of this headquarters in enhancing cooperation between Arab banks, according to what was stated in the statement.

The Union added in the statement that coordination and agreement had been made to hold specialized banking conferences and forums in Egypt, Tunisia and Qatar.