Launch of the 2019 Arab Banking Conference
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The Arab Banking Conference of 2019, under the patronage of Lebanese Prime Minister Saad Hariri, began in Beirut on Tuesday.
The conference started by playing Lebanese national peace and the anthem of the Union of Arab Banks. On the sidelines of the conference, which will last three days, the General Assembly of the Union of Arab Banks will hold its 46th session under the theme "Economic Reforms and Governance".
The Chairman of the Council of the Union of Arab Banks, Mohammed Jarrah Al-Sabah, addressed the opening session, addressing the challenges faced by banks in light of wars and conflicts and the decline of the economies of Arab countries as well as corruption, poverty and displacement and the deterioration of infrastructure in Arab countries and the spread of illiteracy.
The surgeon stressed the importance of economic reforms in the Arab countries and the establishment of a road map in this area and the development of plans for sustainable development.
Participating in the conference delegations representing government and private banks and organizations and associations of banks in Arab countries, including the Association of Iraqi private banks represented by a delegation headed by Executive Director Ali Tariq.
The President of the Association of Lebanese Banks, Joseph Tarabia, in a speech in which he addressed the importance of improving the governance procedures in Arab countries and the need not to rely on oil and the need to develop economic sectors and diversification, pointing to the seriousness of external indebtedness of Arab countries, noting the increasing proportion of debt service.
He pointed out the need to achieve comprehensive economic reforms to provide jobs for the unemployed, who are frighteningly increasing in the Arab world.
He pointed to the seriousness of the complexities of the current Arab world, stressing the importance of rationalizing spending, fighting corruption, addressing public debt, developing government revenues and encouraging investment to achieve sustainable development.
For his part, Governor of the Banque du Liban Riyad Salama addressed the situation of the Lebanese banks in light of the exciting issues they are dealing with, especially on the issue of compliance and governance.
The conference was chosen by the Governor of the Banque du Liban Riad Salameh as the best banker in the Arab world and the world in 2019 at a special ceremony in the presence of Lebanese Prime Minister Saad Hariri.
Hariri expressed his congratulations to the Governor of the Banque du Liban on the award, expressing his optimism about the ongoing economic reforms in the Arab countries, including Lebanon at the present time, stressing the role of Lebanese banks in achieving these reforms.
Hariri stressed his government's interest in the banking sector and its keenness to develop laws to support banking work.
Hariri opened the bank exhibition, which was held on the sidelines of the conference with the participation of many Arab banks and financial institutions. The opening of the exhibition was attended by participants in the conference who represent banks and financial institutions in the Arab world.
The conference will discuss issues and issues related to banking and the challenges facing Arab countries, including the challenges of economic reforms in the region, the importance of good governance of the Arab countries and the role of public-private partnerships in the development of Arab economies and the financing of reconstruction and sustainable development.
The conference will also be held in cooperation with the Institute of Finance and Governance at the latter's headquarters.