The Council of Arab Central Banks Governors and Arab Monetary Associations Confirm the Importance of Financial Inclusion to Achieve Sustainable Development in Arab Countries

The Council of Arab Central Banks Governors and Arab Monetary Associations realize the great importance of enhancing access to financing and financial services to support ensuring comprehensive and sustainable economic growth and economic and financial stability. Hence, the Arab Financial Inclusion Dayis to celebrate the focus of the Council of Arab Central Banks Governors and Arab Monetary Associations on continuing promoting financial inclusion as priority in the economic policies. The Council also reconfirms continuation of drafting laws, systems, and supervisory frameworks to enhance promotion and spread of financial and banking services and to encourage innovation in this area and to improve sound infrastructure of the financial system. 

The Arab Financial Inclusion Day aims to raise awareness relevant to financial inclusion and its requirements in Arab countries with respect to policies and programs. It is also part of the Arab countries focus of the Sustainable Development Goals 2030 and arriving to inclusive financial services for all economic institutions and society in Arab countries.  

His Excellency Mr. Abdul Latif Al Jawahiri, the Governor of the Central Bank of Morocco and president of the current session of the Council of Arab Central Banks Governors and Arab Monetary Associations affirmed the importance of raising awareness for obtaining better financial services and cooperation of all regional and international associations and strengthen partnerships between the public and private sectors to ensure inclusive access to financial services in Arab countries.

His Excellency Dr. Abdurrahman Ibin Abdullah Al Hamidy, the Director General Chairman of the Board of Directors of the Arab Monetary Fund said the decision to celebrate an Arab Financial Inclusion Day was important since it contributed to developing policies and procedures to promote financial inclusion in Arab countries. Dr. Al Hamidy also said that the Arab Monetary Fund would continue to support the right environment to ensure inclusive financial services in Arab countries.