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Libya Hosts Arab Central Banks and Monetary Agencies Council

Global Arab Network - - Ayman Khalil

Wednesday, 15 September 2010 17:01

Libya hosts Arab Central Banks and Monetary Agencies Council, Yemen to Attend

Libya (Tripoli) - The 34th regular session of the board of governors of Arab central banks and monetary agencies will open tomorrow in Tripoli, reports Global Arab Network according to press release.

It will be attended by the financial institutions governors, an Arab League representative, Arab executive officers at the International Monetary Fund (IMF) and the World Bank, in addition to the Union of Arab Banks and the Union of Arab Stock Exchanges as observers, reports QNA

In a statement issued today the Arab Monetary Fund said the session will discuss the Fund's report on the board's secretariat activities during this year and the preliminary draft of the unified Arab economic report issued in 2010, in addition to a paper to be presented by Libya's Central Bank's governor Farahat Omar bin Qadara on the development of the monetary policy in the Jamahiriya.

The statement added that the meeting will also discuss the establishment of a regional mechanism for inter-Arab clearing and settlement in the light of a detailed study prepared by the Arab Monetary Fund in conjunction the World Bank.

Moreover, Yemen will attend the 34th session of Arab Central Banks Governors Council and Arab monetary institutions, Global Arab Network learned.

A delegation led by Yemen Central Bank Governor Muhammad Hamam will head for the meeting that will focus on Arab banking action and mechanisms to activate it as well as discussing the 2010 Arab speech which would be delivered at the annual meetings of the International Monetary Fund and the World Bank to be held in October in Washington, DC, head of Public Relations at the bank told Yemen News Agency (SABA).

The meeting would also review the draft Arab settlement system that includes Arab economic cooperation, business transactions, loans, money transfer and other monetary topics, he said.
The draft project of establishing a pan-Arab closure and settlement of payments system is to be offered as well, he concluded.

On the other hand, Governor of UAE Central Bank Sultan Bin Nasser Al Suwaidi arrived in the Libyan capital this afternoon at the head of a high-level delegation to attend the 34th meeting.
(WAM, QNA, SABA, Others)

Global Arab Network

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Last Updated on Thursday, 16 September 2010 12:49

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