Arab banks recommend the establishment of a regional bank for reconstruction

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The annual conference of the Union of Arab Banks recommended the establishment of a regional bank along the lines of the Asian Bank for the Reconstruction of the Region and the use of the Chinese Silk Road for the Arab Region by establishing an Arab Silk Road. The Union of Arab Banks is tasked with exerting efforts to unify public-private positions and develop a joint development plan that promotes the Arab economic reality and mobilizes Arab and international power to attract development investment projects.

This came during the annual Arab Banking Conference 2017, “Twinning of Reconstruction and Development: Together to Meet Economic Challenges”, under the patronage of Saad Hariri, Prime Minister of Lebanon. The conference was attended by Tariq Amer, Governor of the Central Bank of Egypt, with the Governor of 2017 (Best Governor of the Central Bank of Egypt). Hamoud bin Sangour Al Zadjali, former CEO of the Central Bank of Oman, and Sarkis Yoguradjian, The American “Achievement Award”. At the request of the participants of the conference, the Board of Directors of the Union of Arab Banks agreed to hold the Arab Banking Conference and the General Assembly of the Union for the year 2018 in the Arab Republic of Egypt.

The conference called for an accurate survey and assessment of the actual losses caused by the wars according to the economic sectors as a prelude to the realistic planning of the reconstruction and development process, and the formation of a follow-up committee to communicate with the League of Arab States and banking sectors and international institutions.

She pointed out that investment in Arab people is the cornerstone for economic, social and environmental renaissance, promotion of education, scientific research and vocational education, stressing the importance of contributing effectively to the promotion of economic development and reconstruction projects in Arab countries, which can be manifested in various ways such as partnerships.