The Central Bank organizes the first national forum to enhance financial inclusion policies

Abu Dhabi, May 21 / WAM / The United Arab Emirates Bank in Abu Dhabi organized the first national forum for financial inclusion policies and financial culture, to consolidate the UAE’s position as a global financial center, and as a preliminary step to launch the national strategy for financial inclusion, and the national strategy of financial culture.
The opening of the forum was attended by His Excellency Khaled Mohamed Al -Amma, Governor of the Central Bank, His Excellency Younis Haji Khoury, Undersecretary of the Ministry of Finance, His Excellency Hamid Al -Zaabi, Secretary -General and Vice -Chairman of the National Committee to counter money laundering and combating terrorist financing and illegal organizations, His Excellency Muhammad bin Tal’i, Head of Governmental Services, His Excellency Fatima Al Jabri, Assistant Governor of the Central Bank for Financial Crime Affairs, Market behavior and Consumer Protection, and Saif Saif Al -Dhahiri, Assistant Governor of the Bank for Banking Operations and Support Services, and a number of officials, and representatives of the federal and local bodies, the financial sector and international financial institutions.
The organization of the forum comes within the framework of the endeavors to achieve the sustainable development targets of the UAE, the goals of the central bank related to enhancing awareness and financial inclusion, expanding the scope of the access of financial services to all groups of society, and paying the wheel of sustainable economic growth.
The strategy of financial inclusion and financial culture aims to enable the consumer, small and medium enterprises and categories that are not covered in financial services by designing and launching initiatives and programs that enhance justice and facilitate comprehensive financial integration, as it seeks to build an innovative financial system based on digitization and technological solutions, ensuring equality and facilitating the access of all groups of society to financial services.
The strategies will be developed based on specialized studies and advanced international research in this regard, and with the effective participation of federal and local governmental institutions, the private sector, and members of society, in order to achieve the concerted efforts and integration of the entities through all stages.
To ensure the two strategies compatible with international best practices, the Central Bank and the World Bank signed a partnership agreement aimed at enhancing joint cooperation in their formulation and exchanging technical experiences.
The agreement was signed, His Excellency Fatima Al -Jabri, Assistant Governor of the Central Bank for the Affairs of the Financial Crime Sector, Market and Consumer Protection, and Mrs. Safa Al -Tayeb Al -Kouqly, Director of the World Bank in the Gulf Cooperation Council countries, in the presence of a number of senior officials from both sides.
His Excellency Fatima Al -Jabri said that the development of the strategy of financial inclusion and the strategy of financial culture is a pivotal step towards achieving the aspirations of the rational leadership in consolidating the pillars of financial and economic stability and enhancing social welfare in the country by expanding the scope of the access of financial services to all groups of society, and upgrading the financial infrastructure.
She added that the central bank is keen to develop effective partnerships with international financial institutions, including the World Bank, and is committed to supporting initiatives and regulations that focus on promoting awareness and financial culture, and involving all groups of society in the financial system, which contributes to building a strong and prosperous society, and consolidating the state’s position as a global financial center.
For its part, Safaa Al -Tayeb Al -Kouqly, Director of the World Bank in the Gulf Cooperation Council countries, said that financial inclusion is an essential element for economic growth and employment, and a support of economic empowerment, as well as being a helper factor to enhance the business environment and their growth. She added that the World Bank supports through innovation and strategic partnerships more than 100 developing countries in the field of promoting financial inclusion, praising in cooperation with the Emirates Central Bank to formulate strategies that enable all members of the UAE community to participate effectively in the financial system and take studied financial decisions.

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