Arab Today, arab today gcc economies on track
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

GCC economies on track

Arab Today, arab today

Arab Today, arab today GCC economies on track

Kuwait - KUNA

GCC economies have acquitted themselves quite well in the past few years, buoyed by sound monetary policies and adept management, said Governor of the Central Bank of Kuwait (CBK) Mohammad Al-Hashel, in an opening statement here on Wednesday at the start of the 59th meeting of the Committee of Governors of Monetary Agencies and Central Banks in Gulf Cooperation Council (GCC) countries. Nevertheless, he said that GCC economies were facing a panoply of challenges most of which concentrated in their reliance on oil revenues to prop up their budgets, the latter suffering from overextension in the past few years. Salient among these challenges also has been the ever-increasing need to see a larger role for the private sector in the economic activities of GCC states, he said while, on the other hand, he noted the stellar performance of the banking sectors in these states which he considered to be a sign of their growing maturity and expertise. He expressed with satisfaction the banking sectors' letter-perfect adherence to applying all the reforms espoused by Basel 3 including preservation of capital, prudent management of cash flow, and adept approaches to risk management strategies. He said that the two-day meetings of the GCC central bank governors here will, among other things, focus on boosting joint work among financial institutions of the GCC countries, including enhancing the monitoring of financial transactions and the firmer linking of ATM banking networks as well as unifying payment systems among GCC banks. Moreover, one of the chief items on the agenda of the governors, he said will be addressing the problem of money laundering and the funding of terrorism. In a similar address to the meeting here today, GCC Assistant Secretary General for Economic Affairs Abdullah bin Juma'a Al-Shibli emphasized that GCC states have gone far in applying international standards in their financial and banking sectors. He cited the efforts exerted by the Committee of Governors meeting here in studying the best strategies to update the payment systems among area banks and financial institutions. To achieve the adoption of optimum payment systems, he said, a study has been launched to seek that goal, whose first stage -- involving an assessment of current approaches to payment systems -- has been completed. Later on this month, he promised, the second stage will be started, which will involve the linkage among all payment systems, including ATMs, of the GCC countries.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gcc economies on track Arab Today, arab today gcc economies on track

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gcc economies on track Arab Today, arab today gcc economies on track

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday