banking sector should attract capital
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Arab Banking Conference 2012

Banking sector should attract capital

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleBanking sector should attract capital

Chairman of the Union of Arab Banks Joseph Torbey
Beirut - Arabstoday

Chairman of the Union of Arab Banks Joseph Torbey Beirut - Arabstoday The Arab banking sector should play a bigger role to attract capital and boost investments in productive sectors across the region in a bid to create more job opportunities and fuel growth, chairman of the Lebanese Banks Association Joseph Torbey said Wednesday. “The global financial crisis has exposed the vulnerability of the international financial system particularly after the eurozone debt crisis,” Torbey said, speaking at the “Arab Banking Conference 2012,” which was held in Abu Dhabi. “Restructuring the flow of Arab capital would pave the way for a rapid development in the region’s financial sector,” Torbey added, stressing that the sector is well prepared to take on a more integral role in the Arab world’s economy. Torbey said these funds would pave the way for investments in the region’s productive sectors and create jobs as an essential step to re-establish social and economic regional stability. He also warned that deep political changes still pose a risk to the region’s economies. “We fear that the Arab Spring would transform into a bitter winter if the region moves from fragile stability to full-scale chaos,” Torbey said, calling for further integration among Arab economies to take full advantage of the various resources spread across the region. Torbey’s remarks were echoed by the head of the Union of Arab Banks, Adnan Ahmad. Ahmad said that Arab revolutions, despite bringing positive political change, continue to have significant economic costs. “Tunisia and Egypt lost over $37 billion in stock markets alone,” he said, cautioning that losses in the tourism and oil sectors have been soaring. Ahmad urged the Arab financial sector to lead economic recovery in the region. “We hope that the steps toward the establishment of an Arab common market will be finalized in three years,” Torbey said adding such a step “would allow the establishment of a Arab central bank and a common currency by 2020.”

themuslimchronicle
themuslimchronicle

GMT 08:26 2018 Tuesday ,23 January

Five things to know about Davos

GMT 08:03 2018 Monday ,22 January

Saudi Arabia calls for oil producers

GMT 06:39 2018 Sunday ,21 January

Duterte bans Philippine nationals

GMT 11:50 2018 Saturday ,20 January

UK retail sales slide in December

GMT 06:22 2018 Friday ,19 January

To develop oil fields retaken from Kurds

GMT 12:41 2018 Thursday ,18 January

Sudan holds communist leader

GMT 07:37 2018 Wednesday ,17 January

Sudan police beat protesters at demo

GMT 07:31 2018 Tuesday ,16 January

UK construction firm Carillion collapses
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

banking sector should attract capital banking sector should attract capital

 



Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

GMT 09:40 2017 Sunday ,17 December

May wins Brexit boost, but bigger battles await

GMT 06:33 2017 Friday ,01 December

Venezuela blames oil woes on 'sabotage

GMT 10:53 2017 Wednesday ,27 September

Fadl Shaker change residency after threats

GMT 08:37 2018 Tuesday ,23 January

Europe brings on charm and blue skies

GMT 22:55 2017 Tuesday ,07 February

Egypt backs Trump’s media criticism

GMT 09:50 2016 Thursday ,27 October

Voices concern over AT&T-Time Warner

GMT 07:48 2018 Sunday ,07 January

Globes newcomer Timothee Chalamet shoots

GMT 15:35 2017 Friday ,06 October

SAMA governor: Real GDP growth of 1.7% during 2016

GMT 11:42 2017 Tuesday ,31 October

Greece finds stand-up comedy amid economic tragedy
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle