BEIRUT, Nov 21 (NNN-KUNA) — The Union of Arab Banks (UAB) called on Friday for a comprehensive Arab strategy to boost financial strength coupled with stepping up fight against money laundering and terrorism financing.
UAB, in a statement at the end of its conference in Beirut, called for achieving financial stability and integrity, and protection of consumers’ money.
It urged the Arab countries to make sure they have harmony between development of micro, small and medium-dize projects on one side, and educating the public about finance on the other.
The union called for paying further attention to electronic systems, make better use of inovative financial services, developing infrastructure of the Arab financial system, as well as improving credit services and protecting rights of creditors.
UAB underlined importance of the Islamic banking, and that financial institutes should integrate social responsibility with sustainable development principles in their funding policies. — NNN-KUNA