Egypt, Yemen central banks probe opening new horizons for co-operation
Governor of the Central Bank of Egypt Hassan Abdullah affirmed that strengthening co-operation between Arab central banks and financial institutions represents a key pillar for supporting regional financial stability and addressing shared economic challenges.
He stressed that the exchange of expertise and successful experiences among Arab banking institutions contributes directly to building stronger institutional capacities and enhancing the sector’s ability to keep pace with international standards and best practices.
These remarks came during a high-level banking meeting hosted by the Central Bank of Egypt and the Federation of Egyptian Banks with Yemeni counterparts as part of the CBE’s commitment to supporting and expanding co-operation with Arab financial institutions and central banks across various fields.
CBE Governor Hassan Abdullah, Governor of the Central Bank of Yemen Ahmed Ahmed Ghaleb and a number of leading banking figures from both countries were present at the meeting.
At the outset of the meeting, Governor Abdullah welcomed the Yemeni delegation to their second home, Egypt, expressing his confidence that the visit would open broader horizons for co-operation and joint action between the banking sectors of the two countries.
The governor noted that the meeting reflects the deep-rooted fraternal and historic ties between Egypt and Yemen, as well as the shared determination to advance bilateral banking cooperation in a manner that serves the interests of both countries and their peoples while supporting development and prosperity.
During the meeting, Mr Abdullah reviewed the positive indicators achieved by the Egyptian economy and its resilience in the face of regional and international geopolitical challenges, underpinned by the economic reform programme implemented by the Egyptian government.
He also highlighted the strength and adaptability demonstrated by the Egyptian banking sector in responding to successive crises over recent years.
The discussions further addressed opportunities to strengthen cooperation in monetary and supervisory policies in order to support financial stability, improve the efficiency of banking systems in both countries, facilitate financial transfers and support economic and commercial activity.