A Union of Arab Banks (UAB) conference on the role of financial inclusion in promoting financial and social stability started on Wednesday morning.
The conference, hosted in Sharm El-Sheikh, is being held in cooperation with the Central Bank of Egypt (CBE) and the Federation of Egyptian Banks (FEB).
Over three days, the conference will discuss the importance of financial inclusion in promoting financial and social stability, and supporting micro-, small- and medium-sized projects. In addition to this, the role of the CBE and bank federations in promoting financial knowledge and consumer protection will also be discussed.
The conference will look into the role of financial inclusion in combating money laundering and financial terrorism. Moreover, it will look into the role of technological innovations in promoting financial stability and the wide distribution of financial services. Also on the agenda is the role of regular and Islamic banks in distributing financial services.
The conference was opened by Chairman of the Union of Arab Banks Mohamed Barakat, Banque Misr Chairman and FEB Board Member Mohamed El-Etreby, Deputy Governor of the CBE Tarek El-Kholy, and South Sinai Governor Khaled Fouda.
A number of leaders at Egyptian and Arab banks, as well as officials from local and international financial bodies, are participating in the conference. Also present are UAB Secretary General Wissam Fattouh, Deputy Governor of the CBE’s Monetary Policy Unit Rania Al-Mashat, Chairman of the Egyptian Financial Supervisory Authority Sherif Sami, Managing Director of the Social Fund for Development Soha Soliman, and Sahar Nasr, the presidency’s consultant from the Specialist Council for Economic Development.