Recommendations to provide data and information to settle the Arab-payments

9/24/2016 0:00

Rabat / follow-up to the morning
Board of Governors recommended central banks and Arab Monetary Institutions, at the conclusion of the meeting session, which was held in Rabat on Thursday, providing data, information and participation in technical meetings, including helping to prepare a regional system for clearing and settling payments Arab design requirements.

The Council stressed the importance of this to support and strengthen trade and investment inter-Arab, noting the plan of action submitted to prepare the design of the system, stressing the need to intensify the central banks and the Arab Monetary to promote electronic information security and work on the development of rules and regulations and instructions appropriate efforts, in coordination with the judicial authorities so as to enhance from the safety and security of electronic banking operations, also urged banking institutions to develop surveillance systems and controls have.

The Council welcomed the Regional Conference to promote financial education in Arab countries to be held in Morocco on October 20-21

Next, stressing the need to focus on the development of methodologies for the calculation of indicators for early warning in the Arab countries, according to the nature of the economy of each country.

He also stressed the need for compatibility between macro prudential policies and procedures of banking supervision on the one hand, and macro-economic policies, particularly monetary policy, on the other hand guarantee.

The Council called on the supervisory authorities at the same time to develop the regulatory framework for electronic banking services and capacity building in this regard and urged the banking institutions on the development of surveillance systems and controls have.

He discussed the fortieth session of the Board of Governors of the central banks and institutions meeting of the Arab Monetary regional and international economic and financial developments and their impact on Arab economies in the light of the offer from the Arab Monetary Fund in this regard.

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