Global banks affect the Arab Monetary

Admin Wed Sep 07, 2016 9:19 am

9/7/2016 0:00

Capitals - Agencies
It launched the Arab Monetary Fund and the IMF and the International Bank joint report on the implications of global correspondent banks actions on the banking sector in the Arab countries.

The report summarizes the results of a joint survey on the implications of reduction or withdrawal of the banks global messaging services on the banking sector in the Arab countries, which was launched during the period from February to June 2016 in order to assess the extent of Arab banks affected by reduced Oouansahab banks global messaging services procedures during the past four years, 2012 - Procedures 2015 and collect evidence on the implications of those actions on the products and services offered and sliced bank customers Arabic.

And it shows a significant decline in relations with banks and international correspondence which impact directly in the operating banks in the Arab region's ability to provide a number of services and conduct transactions in foreign currencies.

The report provides a summary of the main findings of the questionnaire and some aspects of the issues that need to be addressed to find a suitable to avoid the causes and repercussions of these actions on banks in the Arab region solutions.

It should be noted that, although the report does not provide a quantitative analysis of the economic repercussions of the practices of correspondent banks in the Arab region, but it contributes to the promotion of dialogue and support policy makers in efforts to find effective solutions to address the challenges arising from these practices.

And confirms all of the Arab Monetary Fund and the IMF and the World Bank are ready to continue to support efforts to address the issues and challenges arising from the repercussions of the correspondent banks actions on the banking sector in the Arab countries in cooperation with the Central Banks and Monetary Agencies Arabic, according to the powers and expertise of each institution in this regard.

http://www.alsabaah.iq/ArticleShow.aspx?ID=122912