The Executive Committee of the Union of Arab Banks (UAB) convened in Beirut on Thursday under the chairmanship of Dr. Joseph Torbey, with the participation of Secretary General Wissam Fattouh and representatives from seven Arab nations: Saudi Arabia, Kuwait, Jordan, Oman, Morocco, Lebanon and Sudan.
During the meeting, the committee reviewed a packed agenda and approved a series of significant decisions and recommendations. Chief among them was the provision of technical assistance and advisory support to the banking sectors of countries currently grappling with economic and financial crises. These measures come in advance of the Union’s upcoming Board of Directors and General Assembly sessions, scheduled to be held in Cairo on April 28 and 29.
In his opening remarks, Torbey emphasized the enduring commitment of the committee’s members to enhancing Arab cooperation within the banking industry. He addressed the latest developments in the Arab world and their profound impact on economic, social and banking conditions across several member states.
“The Union of Arab Banks has, over recent years, succeeded in establishing itself as a cornerstone for safeguarding and advancing the Arab banking sector,” Torbey stated. He called for “bold initiatives and adaptive responses” to meet the region’s mounting challenges, particularly in countries enduring heightened financial pressures.
Torbey further highlighted the Union’s intention to intensify its support for Arab banks in need by bridging gaps in training and development. This includes organizing technical workshops in neighboring countries and offering tailored assistance to help restore stability and promote sustainable growth in affected banking institutions.
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