Abu dhabi: The Arab League underscored the importance of strengthening coordination and integration among joint Arab institutions and enhancing strategic partnerships with financial and monetary bodies to foster economic stability and development across the region. Speaking during the annual meeting of the Permanent Bureau of the Council of Arab Central Bank Governors and Monetary Institutions, held in Abu Dhabi, the League emphasized the significance of this gathering as a platform to address key issues affecting central banking and monetary policy across Arab countries.
According to Jordan News Agency, the League noted that the meeting allows for the exchange of expertise in monetary and fiscal policies, and facilitates the alignment of positions regarding global economic developments and their implications for Arab economies and financial systems. Ambassador Ali bin Ibrahim Al-Maliki, Assistant Secretary-General and Head of the Economic Affairs Sector, said the agenda featured several critical topics, including strategies to enhance financial stability, the development of macroprudential policies, early warning systems, and crisis management frameworks.
The meeting also covered the digital transformation of the financial sector, the promotion of fintech and artificial intelligence applications, and the advancement of digital and instant payment systems. Additionally, discussions addressed climate change, the requirements of green and sustainable finance, and ongoing efforts to strengthen financial inclusion across the Arab world.