Latest news with #UnionofArabBanks
Iraq Business
3 days ago
- Business
- Iraq Business
CBI highlights Iraq's Commitment to AML/CFT Standards
By John Lee. Governor of the Central Bank of Iraq (CBI), Mr. Ali Mohsen Al-Allaq, participated in the opening of the second edition of the Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) Conference , held in Baghdad. Organised by the Central Bank of Iraq, the Union of Arab Banks, and the Iraqi Private Banks League (IBPL), the conference focused on " Challenges Facing Arab Banks in Complying with International Laws and Regulations and Ways to Meet Correspondent Bank Requirements ." In his remarks, Governor Al-Allaq underscored that money laundering and terrorism financing are not merely financial crimes, but critical threats to financial stability. He affirmed Iraq's engagement with international partners in implementing global AML/CFT standards and called for stronger regional and international cooperation to counter such crimes. He also noted that Iraq has made significant advances in its financial and banking sectors, with the CBI working to integrate artificial intelligence and network analysis tools into regulated financial operations. (Source: Central Bank of Iraq)
Daily Tribune
13-05-2025
- Business
- Daily Tribune
Alsharifi represents Bahraini Banking sector on Union of Arab Banks' board
The Union of Arab Banks (UAB) announced the selection of Yaser Alsharifi, Chairman of the Bahrain Association of Banks, as the representative of the Bahraini banking sector at the Union. Alsharifi received an official letter from Dr. Wissam H. Fattouh, Secretary-General of the Union of Arab Banks, congratulating him on his appointment as a member of the Union's Board of Directors in its eighteenth term. In the message, Dr. Fattouh welcomed Alsharifi as the representative of the Bahraini banking sector and commended his anticipated role in strengthening the Union's efforts to advance Arab cooperation and establish a solid foundation for the Union to fulfil its mission in supporting the development of Arab economies and societies. In a statement issued on the occasion, Alsharifi underscored his commitment to sharing Bahrain's pioneering experiences in the banking industry, fostering the exchange of best practices, and collaborating with fellow board members to shape forward-looking banking policies that respond to global economic shifts and promote sustainable development across the Arab region. Alsharifi took part in the 120th ordinary meeting of the Board of Directors of the Union of Arab Banks, during which key leadership positions were elected as part of the Union's eighteenth term. This included the election of the Chairman and Vice-Chairman of the Board, the selection of Board members to serve on the Executive Committee, as well as the appointment of the Chair and Vice-Chair of that committee. The meeting also saw the election of members and the Chair of the Audit Committee, and the formation of the Investment Committee tasked with mobilising financial resources, including the election of its Chair and members. In addition, a memorandum of understanding was signed to establish the Islamic Banks Committee, and two members were nominated to join the Board of Trustees of the Arab Academy for Administrative, Financial and Banking Sciences. Alsharifi also participated in the Arab Banking Conference 2025, held in Cairo under the patronage of Mr. Hassan Abdalla, Governor of the Central Bank of Egypt. Convened under the theme 'Public-Private Partnerships for Financing the Economy,' the conference brought together an esteemed assembly of leaders, policymakers, and key stakeholders from across the Arab financial landscape. The conference featured awards ceremony recognising the recipient of the 'Arab Investment and Banking Personality' accolade, followed by a series of high-level sessions. The first addressed 'The Role of Public-Private Partnerships in Financing Economic Growth,' while the second explored 'The Contribution of Islamic Banking to Financing the Economy and Sustainable Development.' The second day included a session on 'Innovative Financing Mechanisms for Public-Private Partnerships,' a panel on 'The Role of Multilateral Development Banks and International Financial Institutions in Financing PPP Projects,' and concluded with a session examining 'The Regulatory and Policy Framework for Enabling Effective Partnerships.'
Biz Bahrain
13-05-2025
- Business
- Biz Bahrain
Alsharifi Represents Bahraini Banking Sector on the Board of Union of Arab Banks
The Union of Arab Banks (UAB) announced the selection of Yaser Alsharifi, Chairman of the Bahrain Association of Banks, as the representative of the Bahraini banking sector at the Union. Alsharifi received an official letter from Dr. Wissam H. Fattouh, Secretary-General of the Union of Arab Banks, congratulating him on his appointment as a member of the Union's Board of Directors in its eighteenth term. In the message, Dr. Fattouh welcomed Alsharifi as the representative of the Bahraini banking sector and commended his anticipated role in strengthening the Union's efforts to advance Arab cooperation and establish a solid foundation for the Union to fulfil its mission in supporting the development of Arab economies and societies. In a statement issued on the occasion, Alsharifi expressed his appreciation for the Union's confidence in appointing him to its Board of Directors and affirmed that this nomination reflects the prominent standing of the Kingdom of Bahrain's banking and financial sector and its significant contribution to advancing the Union's mission of achieving greater Arab banking integration. Alsharifi also underscored his commitment to sharing Bahrain's pioneering experiences in the banking industry, fostering the exchange of best practices, and collaborating with fellow board members to shape forward-looking banking policies that respond to global economic shifts and promote sustainable development across the Arab region. Alsharifi took part in the 120th ordinary meeting of the Board of Directors of the Union of Arab Banks, during which key leadership positions were elected as part of the Union's eighteenth term. This included the election of the Chairman and Vice-Chairman of the Board, the selection of Board members to serve on the Executive Committee, as well as the appointment of the Chair and Vice-Chair of that committee. The meeting also saw the election of members and the Chair of the Audit Committee, and the formation of the Investment Committee tasked with mobilising financial resources, including the election of its Chair and members. In addition, a memorandum of understanding was signed to establish the Islamic Banks Committee, and two members were nominated to join the Board of Trustees of the Arab Academy for Administrative, Financial and Banking Sciences. In a related context, Alsharifi also participated in the Arab Banking Conference 2025, held in Cairo under the patronage of His Excellency Mr. Hassan Abdalla, Governor of the Central Bank of Egypt. Convened under the theme 'Public-Private Partnerships for Financing the Economy,' the conference brought together an esteemed assembly of leaders, policymakers, and key stakeholders from across the Arab financial landscape. The conference featured a distinguished awards ceremony recognising the recipient of the 'Arab Investment and Banking Personality' accolade, followed by a series of high-level sessions. The first addressed 'The Role of Public-Private Partnerships in Financing Economic Growth,' while the second explored 'The Contribution of Islamic Banking to Financing the Economy and Sustainable Development.' The second day included a session on 'Innovative Financing Mechanisms for Public-Private Partnerships,' a panel on 'The Role of Multilateral Development Banks and International Financial Institutions in Financing PPP Projects,' and concluded with a session examining 'The Regulatory and Policy Framework for Enabling Effective Partnerships.'
Biz Bahrain
12-05-2025
- Business
- Biz Bahrain
Dr. Al-Ghazzawi Showcases Bahrain's Financial Inclusion Model at Arab Banking Conference
Dr. Khalid Al-Ghazzawi, Chief Executive Officer of Ebdaa Microfinance Company and a Board Member of Union of Arab Banks, took part in the Arab Banking Conference 2025, held under the theme 'Public-Private Partnerships for Financing the Economy. The conference, held in Cairo, Egypt, brought together an elite assembly of Arab and international banking leaders, senior policymakers, and prominent economic experts. Dr. Al-Ghazzawi underscored the critical significance of the conference's agenda, which explored current approaches to public-private collaboration across the Arab world and the role such partnerships play in advancing sustainable development objectives. The discussions also included a comprehensive review of the contributions of Islamic finance in economic development and sustainability, as well as innovative financial instruments designed to enhance partnership mechanisms. Key topics also encompassed the involvement of multilateral development banks and international financial institutions, alongside policy and regulatory frameworks aimed at enabling effective and impactful collaborations. Dr. Al-Ghazzawi drew particular attention to the conference's dedicated focus on financial inclusion—an area gaining increasing strategic importance in the region and spotlighted the Kingdom of Bahrain's pioneering efforts in this field, describing how Bahrain has embraced forward-thinking strategies to broaden access to financial services across all segments of society. These strategies include the deployment of diverse and inclusive financial products that align with the needs of different demographic groups, in addition to the integration of microfinance as a pivotal instrument to foster empowerment and economic participation. Highlighting Bahrain's success story, Dr. Al-Ghazzawi elaborated on the contribution of Ebdaa Microfinance Company, emphasizing the company's central role in advancing financial inclusion, and noted that Ebdaa Bahrain is firmly dedicated to offering sustainable and innovative financing solutions specifically tailored to underserved populations that face barriers in accessing conventional banking channels. Through these efforts, the company significantly contributes to Bahrain's broader objective of inclusive and comprehensive economic development.
Shafaq News
29-04-2025
- Business
- Shafaq News
Baghdad to host Union of Arab Banks Conference
Shafaq News/ The Union of Arab Banks will hold its next conference in Baghdad, sponsored by Iraqi Prime Minister Mohammed Shia Al-Sudani, a senior official said on Monday. The head of the Iraqi Private Banks League, Wadee Al-Handal, indicated during the conference in Cairo that the current Iraqi government has played a major role in advancing public-private partnerships, beginning with the establishment of the Private Sector Council. Iraq's private banking sector has expanded significantly through partnerships with the government, including initiatives to promote electronic payments and the signing of contracts between government institutions and banks to modernize electronic payment infrastructure, he continued. Al-Handal also revealed that electronic transactions via bank cards surpassed 21.1 trillion dinars (about $16.1 billion) in 2024 through more than 58.4 million transactions, compared to just over 7,000 transactions recorded in 2017 — describing the growth as a major development. Arab and foreign investments in Iraq totaled $63 billion over the past two years, with the increase attributed to stronger cooperation between the government and the private sector. 'Development Road project is a major gateway for further public-private collaboration,' he stated, noting that it offers wide opportunities to boost Iraq's gross domestic product (GDP).
