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Union of Arab Banks calls for emphasis on the fight against money laundering and terrorist financing

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Union of Arab Banks calls for emphasis on the fight against money laundering and terrorist financing

November 21, 2015 0

Annual conference of the Union of Arab Banks recommended, the importance of joint Arab cooperation for the development of a comprehensive Arab strategy to promote financial inclusion with an emphasis on anti-money laundering and terrorist financing, and to promote the building and construction policies, and the importance of the inclusion of financial inclusion as a strategic objective new governments and regulators, with the need to achieve integration between financial inclusion and financial stability and financial integrity and financial protection for the consumer to realize the Integrated Framework for inclusion and financial stability.

And to increase and expand the role of Islamic banking to give impetus to financial inclusion by allowing individuals and small and medium-sized enterprises who prefer a compliant banking operations with the law, dealing with the banking system.

In addition to the promotion of Arab financial institutions, financial inclusion policies have, to affect the micro and small and medium segments of low-income community, and emphasis on the integration of social responsibility and the principles of sustainable development in their funding policies, and given the problem of the Arab exodus of great importance, to reduce the aggravation of the social and humanitarian crises, and develop and adopt a statistical standard for measuring the level of financial inclusion in the Arab countries, and follow the development of this inclusiveness, respectively.

The federation said that in light of developments in the Arab region developments and the resulting and the resulting crises and the problems of economic, social and security, and the legacy of the developments of private control ghost mobile terrorism on the Arab region, a Union of Arab Banks under the patronage of the President of the Government of Lebanon Tammam Salam and the participation of more than 800 Personal leading financial and banking Arab and international, annual Arab banking conference of 2015, on Thursday and Friday 19 and November 20, in Beirut.

The Conference urged decision-makers on the importance of achieving harmony between micro-enterprise development strategies for micro, small and medium enterprises, and to give financial education due importance to a large segment of Arab societies, and interest in electronic systems and optimization of the great development in the services and innovative financial products and the development of the infrastructure of the system of Arab Financial.

And improve the credit reporting systems, and protect the rights of creditors, and to facilitate the safeguards systems, and create a favorable environment to get young people and women to finance and financial services, and expand financial services more broadly to include rural areas in Arab countries.

And the development and diversification of financial products and services in the region in order to provide innovative services and affordable, customized for the poor.

And opened Lebanese Prime Minister Tammam Salam activities of the conference and spoke of Lebanon Central Bank Governor Riad Salameh and Mohamed Barakat, Chairman of the Union of Arab Banks and Dr. Joseph Tarabay, Chairman of World Union of Arab Bankers management and Adnan Kassar, honorary chairman of the General Union of Chambers of Industry and Commerce and Agriculture for Arab Countries.

The activities of the conference focused on four main sessions where a number of economic and financial experts, bankers, and the governors of Arab central banks, and leaders of Arab central banks and Arab leaders present banking. This is in addition to the final session devoted to discuss a working paper on the Union of Arab Banks initiative to implement financial inclusion in the Arab region.

The conference saw a round table under the title "Arab Banking Dialogue - China: building long-term relationships", in the presence of a Chinese economic delegation and high-ranking diplomat.

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