Arab Central Banks discuss modern financial techniques challenges in Jordan

AMMAN, The Central Bank of Jordan held on Tuesday a specialized roundtable workshop among Arab top bankers to discuss the development of modern financial techniques, and opportunities and challenges facing the Arab nations.

Arab Central Banks’ Governors took part in a workshop that was organized on the sidelines of the 42nd Ordinary Session of the Board of Governors of Arab Central Banks and Monetary Institutions held in Jordan.

Central Bank of Kuwait’s Governor Dr Mohammad Al-Hashel headed the second session of the workshop titled “Regulatory and supervisory methodologies of modern financial techniques.” This workshop witnessed the participation of a large number of officials at the International Monetary Fund (IMF), the European Central Bank (ECB), the Bank of Finland, the Monetary Authority of Singapore (MAS), the Alliance for Financial Inclusion (AFI), the Union of Arab Banks (UAB), as well as a group of Arab commercial banks presidents, along with experts from various regional and international financial institutions.

The Chairman of the Board of Executive Directors and Director General at Arab Monetary Fund Dr. Abdulrahman Al-Humaidi in press remarks stressed on the importance of the issues tackled and discussed in the workshop.

He called for boosting cooperation between central banks, hailing the importance of such workshop in the exchange of expertise in the field of developing the regulatory and supervisory controls of modern financial techniques at the light of diverse laws and legislations.

The workshop discussed four main aspects, namely: modern financial techniques, financial inclusion, regulatory and supervisory methodologies of modern financial techniques, digital currencies of central banks, and the framework of risk management of cyber-threats.

It also shed light resolving consequences of banking procedures, challenges of digital currencies facing central banks, issuance of currency, monetary policy and payment systems, and addressing cyber-attacks in the financial and banking sector.

Source: Kuwait News Agency