CAIRO: Secretary General of the Arab League Dr. Ahmed Aboul Gheit has praised the vital role played by the Arab Monetary Fund (AMF) in supporting Arab governments, and promoting financial, economic, and monetary stability across the region, the Saudi Press Agency (SPA) reported on Tuesday.
He made the remarks while speaking at the opening of the 48th ordinary meeting of the Council of Arab Central Banks and Monetary Authorities’ Governors in Cairo.
Aboul Gheit stressed the responsibility central banks bear in managing monetary policies in the current economic and political turmoil. He added that these institutions operate in a dynamic environment marked by complex challenges, such as AI, global market volatility, financial technology advancements, and rising uncertainty.
He further emphasized that the council, along with Arab monetary institutions, holds a major role in addressing present and emerging challenges and fostering Arab cooperation and joint action. He called for continuous exchange of information and policy coordination, to maximize the potential of the Arab economy.
Expressing confidence in the capabilities of Arab banks and the expertise of their human resources, the Secretary General lauded their ability to navigate this challenging period with flexibility, vigilance, and resilience, to adapt to unexpected shocks.
