Arab Monetary Fund reviews the activities

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Arab Monetary Fund reviews the activities

 

 

Last updated: Friday, 12/19/2014 m, 1:44 pm local time for the city of Doha

Abu Dhabi -alraah: Board of Executive Directors of the Arab Monetary Fund held its third meeting after seventy percent yesterday, headed by Dr. Abdul Rahman bin Abdullah Al Hamidi Director General Chairman of the Board.

The meeting reviewed, developments Fund's activities, and the most important thing he has done in the different areas of work during the period since the last meeting of the Council in September 2014, with regard to providing loans and aid technical Member States, the Council took note of the results of the follow-up mission that visited the Hashemite Kingdom of Jordan during the month of November 2014 to assess the progress of implementation of agreed with the Jordanian government's economic reform program, which covers 2014, and consultation on complementary elements of the reform program for 2015.

Also reviewed the Council's activity and technical support provided by the Fund to its member states, and in this context, browse the joint technical mission results between the Arab Monetary Fund, the World Bank and the European Investment Bank, which visited Algeria at the beginning of the month of December 2014, at the request of the Algerian authorities to obtain technical support to strengthen efforts government efforts to develop the public sector banks to enhance their contribution to the financing of the economy, and improve the management of the business to conform with international standards in this regard.

It also took note of the technical mission dispatched by the Fund for the Islamic Republic of Mauritania, in the framework of the "Arbstadt" initiative, which began its work on 15 December last year, with the participation of the International Monetary Fund, and its functions are based on providing technical support for the modernization of national accounts in Mauritania.

On the other hand, the Council reviewed within its developments in the Fund's investment activity schedule, including Activity accepting deposits from the central banks and monetary agencies of Arab and performance of investment portfolios, and developments in the global financial markets, as well as updated the investment policy of the Fund for the development of investment managed funds strategy. On the other hand, the Board also reviewed the progress of work in the development of risk management and renovation work procedures which the Fund is currently doing a project.

In the area of ​​Arab financial markets development initiatives and technical aid the financial and banking sector in the Member States, the Council reviewed the Fund's efforts in these areas during the fourth quarter of 2014, and the results of cooperation with the Union of Arab Securities Authorities and company Thomson Reuters, which was to organize the first conference of capital markets Arabic, which was held in the city of Dubai on

25 to 26 November last, to discuss a number of issues and topics related to the capital markets.

 

 

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Arab central banks are looking systemic risk mechanisms

 

 

         

12/20/2014 0:00 

 Rabat - Xinhua 

 Arab Committee on Banking Supervision in Casablanca held the twenty-fourth annual meeting was devoted primarily to discuss the development of systemic risk control at the level of Arab central banks mechanisms. 

In this regard, the Moroccan Central Bank Governor Abdul Latif Jeweler stressed the importance of the meetings of the Committee examined and the exchange of experiences among Arab countries at the level of the development of systemic risk control mechanisms so as to coordinate the Arab action in this area. 

Turning Jeweler to the efforts and achievements of the Central Bank of Morocco at the level of banking supervision and financial inclusion, referring to the three basic themes relating to strengthening the legal framework governing the banking sector, and the establishment of a strong structure in the field prudential supervision college, in addition to the policies and procedures promote financial inclusion. "The Director General Chairman of the Arab Monetary Fund, Dr. Abdul Rahman bin Abdullah Hamid, confirmed his part, that the issues under discussion," reflects the growing awareness of the importance of the topics prudential oversight college as an essential means to improve risk management and financial and banking institutions on the one hand, and improve the efficiency and safety of the financial sector as a whole, and to strengthen its role in the overall growth and stability to support macro-economic on the other hand. " 

The Committee discussed over three days several topics included "dealing with the risks of large exposures in the Arab countries," and "precautionary policy College and indicators for early warning of asset price bubbles," in addition to "incremental capital requirements to reduce the risk of fluctuations in business cycles and credit granting." 

The Committee recommended in this context, the Arab central banks "to develop regulatory measures to deal with the risk of fluctuations courses Business and the granting of credit to support the safety of Arab financial sectors, and work on the development of a regulatory framework to effectively measure and review of large exposures, including help to reduce systemic risk. " 

She also discussed the Secretariat memorandum on ways to develop its business and activate their role in the coordination between the Arab central banks in the field of banking supervision and financial stability .