(MENAFN – Daily News Egypt) Governors of central banks in the Middle East will meet, along with Arab Monetary Institutions, on Sunday, to discuss the economic, financial, and monetary implications of the novel coronavirus (COVID-19). The 44th regular session of financial experts from these regional financial institutions is to be opened by the Arab Monetary Fund (AMF).
The meeting, which will be held virtually, will focus on several topics, of which the most important will be the fiscal implications of the global pandemic. The participants will also discuss the possible policies and tools in the post-crisis phase and the impact of climate change on the financial system.
Issues related to the applications of financial technology (fintech) and the digital transformation of banking services and products will also be addressed, in light of the pandemic’s repercussions. Additionally, the meeting will look into the importance of enhancing financial inclusion, alongside developments in efforts to combat money laundering and the financing of terrorism.
Also on the agenda will be the presentation of a number of reports on banking supervision, financial stability, credit information, financial inclusion, payment and settlement systems, modern financial technologies, and the ‘Beni’ Arab payments platform. These will run alongside presentations on the issues that have been proposed for inclusion in the unified Arab letter for the year 2020. The latter will be presented at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank.