The Governor of the Monetary Authority Participates in the Twentieth High-Level Meeting on Financial Stability Held in Abu Dhabi

SadaNews - The Governor of the Monetary Authority, Yahya Shanar, participated in the twentieth annual high-level meeting on financial stability and regulatory and supervisory priorities, organized by the Arab Monetary Fund in collaboration with the Basel Committee on Banking Supervision and the Financial Stability Institute of the Bank for International Settlements, in the capital of the UAE, Abu Dhabi.

The meeting witnessed high-level attendance from prominent Arab and international banking figures, including Fahd Mohammed Al-Turki, the General Director and Chairman of the Board of the Arab Monetary Fund, and Khalid Mohammed Balama, the Governor of the Central Bank of the United Arab Emirates, along with representatives from the Palestinian banking sector, including managers of banks operating in Palestine, in addition to several governors of Arab central banks and senior officials in regional and international financial institutions.

During the meeting, Governor Shanar delivered a presentation in the first session titled "Emerging Risks and Trends in Financial Systems in the Arab World," where he reviewed the reality of the Palestinian financial and banking sector amid the exceptional circumstances and challenges facing Palestine, along with the accompanying economic and financial crises.

He pointed out the efforts made by the Monetary Authority to enhance the resilience of the banking system and maintain its stability, through the proactive development of the regulatory framework and risk management, ensuring the efficient provision of financial services. He also mentioned the policies adopted by the Monetary Authority to maintain liquidity and solvency levels, support digital transformation, and empower the banking sector to face increasing pressures, emphasizing the need for regional and international coordination to support the sustainability of financial stability in Palestine and the region.

The meeting addressed several pivotal issues, most notably enhancing banking supervision, regulating issuance related to stablecoins, the role of artificial intelligence in the work of financial authorities, in addition to discussing liquidity risks and lessons learned from the developments of 2023.