Arab central bank council discusses Basel II rules

Source: Khaleej Times

The Council of the Arab Central Banks, which met here yesterday, discussed in detail ways of enhancing their supervisory role, in monitoring the banking industry, in accordance with the Basel II Convention.

The meeting was chaired by Shaikh Ahmed bin Mohammed Khalifa, governor, Bahrain Monetary Agency (BMA), while other members who attended the meeting included Governor of the UAE Central Bank, Sultan bin Nassar Al Suwaidi, Governor of Saudi Arabian Central Bank, Shaikh Hamed As-Siari, Governor of Egyptian Central Bank, Mehmood Abu Alayon and Chairman of Board of Directors of the Arab Monetary Fund (AMF), Dr Jassem Al Mannai.

The meeting received and discussed a report based on the recommendations of the 12th meeting of Arab Committee for Bank Monitoring.

The Council also discussed issues pertaining to the joint Arab report on development for 2003, which would be presented at the Dubai 2003 annual meeting of the Board of Governors of the International Monetary Fund (IMF) and the World Bank in September. The meeting also deliberated upon issues and agenda of 27th annual meeting of the Arab Central Banks and Arab Monetary Fund (AMF) scheduled to be held on September 1, which will discuss matters relating to the monetary policies.

Meanwhile, the quarterly meeting of the Board of Directors of Arab Trade Financing Programme (ATFP) will be held in the capital, today which would be chaired by Dr Jassem Al Mannai.

The meeting would review the financing proposals received and executed during the last three months and discuss its programme for next the quarter.