'Summit' Arab banking - International in Vienna emphasizes the role of banks ... After the 'Spring'

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'Summit' Arab banking - International in Vienna emphasizes the role of banks ... After the 'Spring'

Beirut, Vienna - «life»

Friday, June 28, 2013

Arab banking sector is the leverage of the Arab economies and their activities, especially after the transformations taking place in the Arab countries, is what the consensus of speakers at the opening of the Arab Banking Summit International this year, organized by the Union of Arab Banks in the presidential palace Austrian in Vienna, about «the role of banks in capacity building Civil in post-conflict countries.

The Secretary-General of the United Nations Ban Ki-moon, in a big speech at the United Nations representatives Angela Kane via satellite, on «Resolution 1540 adopted by the United Nations in 2004, which confirms prevent the spread of chemical and biological weapons and nuclear terrorism».

He stressed that the international banking sector represents «a fundamental pillar of the international economy, because the people who are trying to pass their threats will try to pass through the banking sector one way or another to the success of their destructive plans.

The Deputy Austrian Federal Chancellor and Foreign Minister Michael Spendjer, that the world «witnessing shifts difficult and demanding pursuant to reach more of the economic and political aspirations. When he saw that the situation in Syria «is still very difficult. The support Austria 'initiatives that lead to finding solutions and forming a government to address the problems raised.

The President of the Union of Arab Banks Mohamed Kamal Eddin Barakat, the keenness of the Union «follow the implications of developments in some Arab countries and Response.

He cautioned that poverty «represents today's greatest threat to our societies, where about a hundred million Arabs under the poverty line, a third of the population of the Arab world, almost, as well as the suffering of 40 million Arabic from a lack of nutrition or 13 percent of the population almost in spite of the availability of enough resources to achieve Arab food security.

He pointed to other factors that threaten the economic security, is «the suffering of the Arab States of the low per capita income and growth to the unemployment problem, as witness the least developed countries a significant increase in the unemployment rate nearing 20 percent.

Barakat stressed that the banking sector «is still playing the role of an engine of the Arab economy, which provide him with funding and support economic sectors to be able to cope with these transitions. He pointed out that «the size of credit who pumped sector in the economy amounted to about 1.46 trillion dollars until the end of 2012, 58 percent of the volume of Arab GDP.

The honorary president of the Arab Chamber of Commerce - Austrian Herbert Stepik, to «total trade volume adults $ 4.5 billion in 2012, and was the most important partners of Austria, UAE, Libya and Saudi Arabia. He said that oil prices «will be sufficient to support the oil-exporting countries and thus will be reflected positively on the Arab banking sector, the main driver for economic recovery.

The President of the International Union of Arab Bankers, Joseph Tarabay, that the areas of cooperation between the countries of Europe and the Arab world are diverse and promising, in many aspects, including «economic reforms, financial and banking, addressing debts public and radicalism in the systems of banking supervision, and to address the high unemployment rate is unprecedented and declining growth rates to alarming levels, and the fight against organized crime Ketbiad cross-border money laundering and terrorist financing, tax evasion and corruption, banking and risk management, and increase funding for small and medium enterprises and emerging, and compatibility of gradually reducing the banking secrecy ».

The President of the Arab Monetary Fund Jassim Al Mannai, that the banks are «the only source of funding for economic activities, and expected to« play the main role in the development of the economy and economic recovery. He pointed out that the Fund «spent $ 1.2 billion since the start of the political transformations and economic decline, and provided technical assistance to the process of legislative reforms and training.

The central bank governor spoke Austrian Ewald نووتني,, for the banking and financial situations in Austria and Europe, pointing out that «Europe's growth will be negative 0.6 percent this year. He believed that the European central banks' key role in addressing the crisis, but they can not find the desired solution.