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GCC central bankers meet in Abu Dhabi
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GCC central bankers meet in Abu Dhabi
rocky on Thu Mar 10, 2011 5:54 pm
GCC central bankers meet in Abu Dhabi
Economics
3/11/2011
12:57:00 AM
http://www.kuna.net....327&Language=en
ABU DHABI, March 10 (KUNA) -- The Committee of Governors of Monetary Agencies and Central Banks of the Gulf Cooperation Council (GCC) held its 52nd meeting here on Thursday.
In the inaugural remarks, Governor of the Central Bank of the United Arab Emirates Sultan Bin Nasser Al-Suwaidi who chaired the meeting, stressed the need for "making banking legislations flexible but also stringent in essential matters." "The legislations have to enable the GCC banks to open branches in all GCC member states based on specific criteria," Al-Suwaidi said.
The meeting discussed issues related to control and supervision on the banking system.
The committee gave directives to set up a team of specialists for countering financing for terrorism and money laundering as well as for coordination among GCC member states.
Other items on the agenda of the meeting included preparations for the 10th GCC Banking Conference 2011 scheduled in Doha, Qatar, on March 23-24 and for participation of GCC in the first Plenary and Working Group meetings of the Financial Action Task Force (FATF) in Paris, France.
Meanwhile, Al-Suwaidi noted on a different subject by saying that no unusual movements in bank operations, either withdrawals or transfers, have been noticed in the country during the past months in the light of the developments witnessed in the region.
Al-Suwaidi also said that UAE will deal with any migratory assets, portfolios or accounts arriving in the country in accordance with international laws combating money laundering and terrorism financing if it is asked to do so.
Al-Suwaidi also said that UAE will continue to peg its currency to U.S Dollar.
UAE's stance on the issue joining the Gulf Monetary Union remains the same without any change so far, affirmed Governor in answer to a question.
The UAE had pulled out of the long-planned project earlier in May 2009. (end) hny.mb KUNA 110057 Mar 11NNNN
http://www.kuna.net.kw/NewsAgencyPublicSite/ArticleDetails.aspx?id=2151327&Language=en
Economics
3/11/2011
12:57:00 AM
http://www.kuna.net....327&Language=en
ABU DHABI, March 10 (KUNA) -- The Committee of Governors of Monetary Agencies and Central Banks of the Gulf Cooperation Council (GCC) held its 52nd meeting here on Thursday.
In the inaugural remarks, Governor of the Central Bank of the United Arab Emirates Sultan Bin Nasser Al-Suwaidi who chaired the meeting, stressed the need for "making banking legislations flexible but also stringent in essential matters." "The legislations have to enable the GCC banks to open branches in all GCC member states based on specific criteria," Al-Suwaidi said.
The meeting discussed issues related to control and supervision on the banking system.
The committee gave directives to set up a team of specialists for countering financing for terrorism and money laundering as well as for coordination among GCC member states.
Other items on the agenda of the meeting included preparations for the 10th GCC Banking Conference 2011 scheduled in Doha, Qatar, on March 23-24 and for participation of GCC in the first Plenary and Working Group meetings of the Financial Action Task Force (FATF) in Paris, France.
Meanwhile, Al-Suwaidi noted on a different subject by saying that no unusual movements in bank operations, either withdrawals or transfers, have been noticed in the country during the past months in the light of the developments witnessed in the region.
Al-Suwaidi also said that UAE will deal with any migratory assets, portfolios or accounts arriving in the country in accordance with international laws combating money laundering and terrorism financing if it is asked to do so.
Al-Suwaidi also said that UAE will continue to peg its currency to U.S Dollar.
UAE's stance on the issue joining the Gulf Monetary Union remains the same without any change so far, affirmed Governor in answer to a question.
The UAE had pulled out of the long-planned project earlier in May 2009. (end) hny.mb KUNA 110057 Mar 11NNNN
http://www.kuna.net.kw/NewsAgencyPublicSite/ArticleDetails.aspx?id=2151327&Language=en
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