Press Release issued by the Board of Governors of Central Banks and Arab Monetary Institutions
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Press Release issued by the Board of Governors of Central Banks and Arab Monetary Institutions
Admin Thu Apr 26, 2018 3:13 am
April 26, 2018
Press release
Issued by
Council of Governors of Central Banks and Arab Monetary Institutions
About
"Arab Day for Financial Inclusiveness"
April 27, 2018
The Council calls for enabling young people and entrepreneurs to access financial services
Strengthening the levels of financial inclusion in Arab countries is an important focus of the Central Bank and Arab Monetary Fund's Board of Governors, as it plays an effective role in enhancing financial stability and supporting opportunities for sustainable development and social welfare. In this context, in 2016, in light of the increasing need to increase awareness of the importance of financial inclusion and its implications for all parties in the Arab countries, the Council adopted an Arab Day for Financial Inclusion, which falls on April 27 of each year, which is celebrated this year under the slogan " Business to Financial Services ". In this context, the Council appreciates the steps and actions taken by the Arab States to promote financial inclusion and reaffirms the need to integrate all sectors of society and its sectors into the formal financial system, especially youth, women and entrepreneurs, by enhancing their access and use of financial services and products To meet their needs with reasonable costs and conditions, to protect their rights and to enhance their knowledge and awareness of financial matters so that they can make the right investment decision.
The Council also affirms the role of central banks, Arab monetary institutions and supervisory bodies in the financial sector in the Arab countries in enhancing financial coverage through the enactment of laws and legislations aimed at promoting the spread of financial and banking services, developing payment systems and credit inquiries and identifying gaps and obstacles in both supply and demand. Policies and policies to address them and stimulate the private sector and financial and banking institutions and related parties to play their role in raising awareness and financial culture to enable and strengthen the capacities of local communities.
The Council is keen to give the issues of financial inclusion in the Arab countries the importance it deserves. The Council has launched various activities and initiatives in cooperation with the relevant regional and international institutions. These efforts were recently reinforced by the launch of the Arab Monetary Fund in cooperation with a number of regional and international institutions, under the umbrella of the Council, the Regional Initiative for the Enhancement of Financial Inclusion in the Arab Countries (FIARI) aimed at empowering and enhancing capacities to overcome obstacles to improving indicators of financial inclusion in Arab countries. The initiative includes many activities that focus on supporting young people, empowering women financially and encouraging the development of start-ups and entrepreneurs by providing technical advice to develop strategies and policies. On this occasion, the Council calls upon the regional and international institutions to cooperate and coordinate among themselves within the framework of this initiative, which will contribute to support the efforts of the authorities in the Arab countries. The Council also emphasizes the importance of taking specific steps and measures on the ground that enhance financial inclusion by encouraging innovations for the development of the banking industry, including initiatives such as opening an account for each citizen, providing special financial and banking products and services for youth and women and initiatives To bridge the gender gap and strengthen the legal environment to protect consumers of financial and banking services and products.
In addition to achieving the objectives of national strategies for financial coverage and finding solutions to core issues, the Board stresses the importance of following up on the development of modern financial infrastructure, the completion of the relevant legislation, regulations and laws, and the promotion and provision of sophisticated financial products and services to meet the needs of the target groups. In this context, the Council emphasizes the importance of shifting from traditional financial services to modern means and tools and utilizing modern financial techniques in the development of digital financial services and enhancing their spread in the Arab countries.
In conclusion, the Council calls on all Member States to revive the activities of the Arab Day for Financial Inclusion by implementing activities and activities that enhance and clarify the vision of financial inclusion and its objectives, wishing success and success to the activities and activities of the Arab Day for financial inclusion and achieving the desired objectives in terms of enabling the entrepreneurship sector. And emerging companies.
https://cbi.iq/news/view/684
Press release
Issued by
Council of Governors of Central Banks and Arab Monetary Institutions
About
"Arab Day for Financial Inclusiveness"
April 27, 2018
The Council calls for enabling young people and entrepreneurs to access financial services
Strengthening the levels of financial inclusion in Arab countries is an important focus of the Central Bank and Arab Monetary Fund's Board of Governors, as it plays an effective role in enhancing financial stability and supporting opportunities for sustainable development and social welfare. In this context, in 2016, in light of the increasing need to increase awareness of the importance of financial inclusion and its implications for all parties in the Arab countries, the Council adopted an Arab Day for Financial Inclusion, which falls on April 27 of each year, which is celebrated this year under the slogan " Business to Financial Services ". In this context, the Council appreciates the steps and actions taken by the Arab States to promote financial inclusion and reaffirms the need to integrate all sectors of society and its sectors into the formal financial system, especially youth, women and entrepreneurs, by enhancing their access and use of financial services and products To meet their needs with reasonable costs and conditions, to protect their rights and to enhance their knowledge and awareness of financial matters so that they can make the right investment decision.
The Council also affirms the role of central banks, Arab monetary institutions and supervisory bodies in the financial sector in the Arab countries in enhancing financial coverage through the enactment of laws and legislations aimed at promoting the spread of financial and banking services, developing payment systems and credit inquiries and identifying gaps and obstacles in both supply and demand. Policies and policies to address them and stimulate the private sector and financial and banking institutions and related parties to play their role in raising awareness and financial culture to enable and strengthen the capacities of local communities.
The Council is keen to give the issues of financial inclusion in the Arab countries the importance it deserves. The Council has launched various activities and initiatives in cooperation with the relevant regional and international institutions. These efforts were recently reinforced by the launch of the Arab Monetary Fund in cooperation with a number of regional and international institutions, under the umbrella of the Council, the Regional Initiative for the Enhancement of Financial Inclusion in the Arab Countries (FIARI) aimed at empowering and enhancing capacities to overcome obstacles to improving indicators of financial inclusion in Arab countries. The initiative includes many activities that focus on supporting young people, empowering women financially and encouraging the development of start-ups and entrepreneurs by providing technical advice to develop strategies and policies. On this occasion, the Council calls upon the regional and international institutions to cooperate and coordinate among themselves within the framework of this initiative, which will contribute to support the efforts of the authorities in the Arab countries. The Council also emphasizes the importance of taking specific steps and measures on the ground that enhance financial inclusion by encouraging innovations for the development of the banking industry, including initiatives such as opening an account for each citizen, providing special financial and banking products and services for youth and women and initiatives To bridge the gender gap and strengthen the legal environment to protect consumers of financial and banking services and products.
In addition to achieving the objectives of national strategies for financial coverage and finding solutions to core issues, the Board stresses the importance of following up on the development of modern financial infrastructure, the completion of the relevant legislation, regulations and laws, and the promotion and provision of sophisticated financial products and services to meet the needs of the target groups. In this context, the Council emphasizes the importance of shifting from traditional financial services to modern means and tools and utilizing modern financial techniques in the development of digital financial services and enhancing their spread in the Arab countries.
In conclusion, the Council calls on all Member States to revive the activities of the Arab Day for Financial Inclusion by implementing activities and activities that enhance and clarify the vision of financial inclusion and its objectives, wishing success and success to the activities and activities of the Arab Day for financial inclusion and achieving the desired objectives in terms of enabling the entrepreneurship sector. And emerging companies.
https://cbi.iq/news/view/684
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