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Daily News Egypt
21-06-2025
- Business
- Daily News Egypt
Union of Arab Banks names Hassan Abdalla ‘Governor of Year 2025'
Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), has been named 'Governor of the Year 2025' by the Union of Arab Banks. The award was presented during a high-profile ceremony in Paris, on the sidelines of the Arab International Banking Summit, held under the patronage of French President Emmanuel Macron. The award recognises Abdalla's significant contributions to maintaining the stability of Egypt's banking sector, his prudent management of monetary policy, and his active support for economic reform. It also reflects the increasingly prominent status of the Egyptian banking system—both regionally and internationally—and its key role in advancing economic growth and supporting the goals of the 2030 Sustainable Development Agenda. The Union of Arab Banks bestows this honour annually on distinguished Arab banking leaders whose achievements have made a lasting impact on the banking sector at both national and regional levels. Abdalla was unanimously selected by the Union's Board of Directors, which includes representatives from 20 Arab countries, during its meeting in December last year. Headquartered in Beirut, the Union of Arab Banks operates as a key regional institution and is a member of the Higher Coordination Committee for Joint Arab Action within the League of Arab States. Its mission is to strengthen ties among Arab banks, foster cooperation, coordinate activities, and promote a shared Arab identity in the financial sector. The Union currently includes over 360 financial and banking institutions across 20 Arab countries, as well as in Europe, Africa, and Turkey. It also counts 16 Arab central banks as observers, alongside several national banking associations. The Union's influence on the regional and global stage has expanded in recent years. Since 2019, it has held special consultative status with the United Nations Economic and Social Council (ECOSOC) in New York and Geneva and serves as a supporting member of the United Nations Environment Programme Finance Initiative (UNEP FI) in Geneva.
Egypt Today
21-06-2025
- Business
- Egypt Today
Arab banking sector must strengthen resilience amid geopolitical uncertainty
PARIS, June 21 (MENA) – The Arab banking sector must maintain and strengthen its resilience in the face of ongoing geopolitical turbulence, International Monetary Fund Executive Director and Arab Group and Maldives Representative Mohamed Maait said. Speaking to the Middle East News Agency (MENA) on the sidelines of the 2025 Arab International Banking Summit in Paris, Maait warned that the annual conference comes amid 'highly complex and uncertain' global and regional conditions whose impact may extend beyond politics and security into the economic sphere. 'No one knows the full consequences of these crises yet. They won't be limited to political or military aspects—they will certainly affect the economy,' Maait said. 'The banking sector is now focused on navigating this heightened uncertainty and rapid change.' He underscored the importance of such summits in fostering dialogue, calling the banking sector the 'backbone of any economy.' The conference—organized by the Union of Arab Banks in partnership with French banking institutions—provides a platform for practical discussions and policy proposals, he said. Maait emphasized the need for Arab banks to formulate policies to address both present and unforeseen future shocks. 'It's crucial for Arab banking systems to be able to withstand not only the current crises but those still to come,' he said. He also highlighted the growing importance of regional cooperation. 'There is a shift toward regional solutions. In the future, reliance on international institutions like the World Bank and IMF may no longer be the default. Regional bodies must become the first and strongest line of defense.' Maait said forums like this promote the exchange of ideas and expertise to develop actionable solutions. In his keynote speech, he stressed that economic resilience is now essential, advocating for structural reforms, investment in human capital and infrastructure, and greater support for small and medium-sized enterprises (SMEs). He also called for stronger Arab-European partnerships to foster stability and sustainable growth through flexible fiscal policies, resource integration, and experience-sharing. The 2025 Arab International Banking Summit opened in Paris on Friday under the patronage of the French president, bringing together banking and financial leaders from Europe and the Arab world, including Egypt. The event was organized by the Union of Arab Banks (UAB) in cooperation with the European Banking Federation, the French Banking Federation, the Union of Francophone Banks, the Arab-French Chamber of Commerce, and the International Banking Federation. It was attended by Arab ambassadors to France, including that of Egypt, Alaa Youssef, along with senior officials from financial, banking, and diplomatic institutions. This year's summit, titled 'Economic Resilience in Light of Geopolitical Changes,' aims to foster dialogue between stakeholders from Europe and the MENA region. Topics include common economic and financial challenges, opportunities for boosting growth through investment, trade, and technology, and the impact of global uncertainty on regional financial systems.
See - Sada Elbalad
20-06-2025
- Business
- See - Sada Elbalad
Hassan Abdullah Receives "Governor of Year 2025" Award from Union of Arab Banks
Taarek Refaat During the 2025 International Arab Banking Summit, held in Paris under the patronage of French President Emmanuel Macron, Hassan Abdullah, Governor of the Central Bank of Egypt (CBE), was honored with the prestigious "Governor of the Year 2025" award by the Union of Arab Banks. The summit, which was organized by the Union of Arab Banks, took place under the theme "Economic Resilience in the Face of Geopolitical Changes," and featured cooperation with French, European, and international banking federations. Wissam Fattouh, Secretary General of the Union of Arab Banks praised Abdullah for his exceptional leadership and decision-making, noting that his bold decisions and strategic vision have been instrumental in managing challenging issues. Fattouh highlighted Abdullah's role in formulating effective monetary policies, as well as his distinguished supervisory and oversight role over Egypt's banking sector. He further elaborated that Abdullah's most significant achievements included recalibrating Egypt's monetary policy to align with the broader economic objectives, regulating the foreign exchange market, and implementing reforms that led to a record high of over $47 billion in foreign exchange reserves in 2024—the highest level in the country's history. He also acknowledged the CBE's successes under Abdullah's leadership, particularly in facilitating remittances from Egyptians abroad and spearheading numerous strategic projects that contributed to Egypt's economic resilience. Given these significant accomplishments, Abdullah's leadership has rightfully earned him the title of Banker of the Year 2025. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean News 3 Killed in Shooting Attack in Thailand
Daily Tribune
15-06-2025
- Business
- Daily Tribune
Ebdaa CEO Joins Key AML/CFT Conference in Iraq
Dr. Khaled Al-Ghazzawi, CEO of Ebdaa Microfinance, took part in the second edition of the 'Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Conference' held in Baghdad, Iraq. The conference, held under the theme 'Challenges Facing Arab Banks in Complying with International Regulations and Meeting Correspondent Banking Requirements,' was organized under the patronage of H.E. Mr. Mohammed Shia Al Sudani, Prime Minister of Iraq. It was jointly hosted by the Central Bank of Iraq, the Union of Arab Banks, and the Iraqi Private Banks League.
Iraq Business
02-06-2025
- 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)
