CAIRO, August 3, 2018 (MENA) - The Central Bank of Egypt (CBE) is due to host the 41st annual meeting of the Association of African Central Banks (AACB) in the Red Sea resort of Sharm el Sheikh. The meeting will be held on August 5-9 under the sponsorship of President Abdel Fattah El Sisi, the CBE said in a statement on Friday. Within the framework of boosting the Egyptian-African ties and cooperation, particularly in the economic field, the meetings are considered one of the most important economic and banking events at the African level, as they will bring together a number of governors of African central banks, the statement read. The meeting will be attended by a number of regional and international institutions, including the International Monetary Fund, World Bank, African Union Commission, European Central Bank, Federal Reserve Bank of New York and Common Market for Eastern and Southern Africa (COMESA), the statement said. CBE Governor Tarek Amer will take over the presidency of the AACB, which includes 40 African central banks, it added. The 41st meeting of the AACB is the first meeting to be held in Egypt since the establishment of the AACB and adoption of the AACB Statutes in 2002 in Algeria. The meeting will also mark the participation of Bank AL-Maghreb after Morocco has been readmitted to the AU in 2017. The meeting will witness the participation of Bank of the Republic Haiti which has been granted an observer status by the AACB Bureau of Governors in 2018.
