Central Bank of Egypt (CBE) Governor Hassan Abdalla emphasised the importance of domestic production and productive capacity in curbing inflation and ensuring long-term economic stability during a key Arab banking event in Tunisia on Wednesday. Speaking at the 49th Annual Meeting of the Council of Arab Central Banks and Monetary Authorities' Governors, Abdalla described the forum as "an annual platform for regional dialogue and cooperation on economic and monetary trends" amid ongoing global trade tensions. These conflicts create multifaceted pressures that demand precise and timely responses from central banks, he said, underscoring the need for monetary authorities to adapt their tools and approaches to a rapidly evolving global economy while maintaining price stability. He also stressed transparency in monetary policy as essential for credibility and effectiveness. The gathering brought together governors from Arab central banks and representatives from regional and international financial institutions, Abdalla The session, chaired by the Governor of the Central Bank of Sudan, is addressing challenges central banks face from trade-related shocks, enhancing financial sector cybersecurity and resilience, and tracking progress on the Comprehensive Instant Digital Payments Initiative in Arab countries. Technical committees comprising Arab central bank representatives are reviewing banking supervision, financial inclusion, green financing, credit reporting, financial stability, payment and settlement systems, and FinTech. A closed session will focus on preparations for the third round of mutual evaluations and the Middle East and North Africa Financial Action Task Force's efforts on anti-money laundering and countering terrorist financing. Last year, Egypt hosted the 48th Annual Meeting of the Council under the auspices of President Abdel Fattah El-Sisi. Abdalla also recently participated in the Permanent Bureau of the Board of Governors of Arab Central Banks in Abu Dhabi in July 2025. This year's meeting comes at a critical time for the Arab region, as central banks seek to navigate global economic pressures while strengthening financial sector resilience and supporting regional development. Attribution: Amwal Al Ghad English
