8 - 9 December, 2019, The Nile Ritz-Carlton Hotel Cairo, Egypt
The Union of Arab Banks hosted the Annual Arab Banking Conference for the year 2019 in Cairo, Egypt, in participation with regional and global bankers and industry professionals.
Attendees got to witness a word from IDB chairman and board member of the Union of Arab Banks Mr. Ziad Khalaf, who praised the Iraqi banking sector’s rich experience which helped it overcome the critical political and security circumstances the country is going through.
"This conference is being held under exceptional circumstances, especially with what’s happening in Iraq and Lebanon, and is therefore of great importance because it’s being held in the sidelines of what the region is going through," Mr. Khalaf said.
He added, “the current situation obliges us to be committed to our depositors and shareholders and to develop a road map aimed at mitigating the effects of the expected shocks that will hit regional economies, such as decrease in deposits, fluctuations in exchange rates, devaluation of the local currencies and an increase in unemployment.
Therefore, the circumstances make it imperative for us to adopt conservative policies and strategies in the field of lending, and also enhancing the roles of the control functions, contingency plans and business continuity plans, to ensure the sustainability of the banking sector and ensure that we meet our costumers’ needs.”