Abdalla stated that he was "delighted to participate in this year's session, which serves as an annual platform for dialogue and regional cooperation on economic and monetary developments, and for supporting economic development in our Arab region." He noted that the session comes at a critical time amid the continuous challenges facing the global economy, particularly those posed by trade wars, which create various pressures that require a precise and immediate response from central banks.
Abdalla explained that encouraging increased domestic
production and enhancing production capabilities are two key pillars for
containing inflationary pressures and achieving long-term economic stability.
He emphasized that central banks are committed to developing their tools and
approaches to keep pace with global economic changes, ensure price stability,
and support the economy's flexibility and adaptability to future challenges. He
also highlighted the importance of transparency in explaining the reasons
behind monetary policy decisions to enhance credibility and the effectiveness
of those policies.
The current session, chaired by the Governor of the Central
Bank of Sudan, addresses several important topics, including the challenges
central banks face in dealing with the shocks caused by trade wars. Other
topics include strengthening cybersecurity in the financial sector and
reviewing the progress of the inclusive instant payments initiative in the Arab
region.
The session also includes following up on and approving the
results of the work of technical committees, which include representatives from
Arab central banks specializing in banking supervision, financial inclusion,
green finance, credit information, financial stability, payment and settlement
systems, and modern financial technologies. A closed session is scheduled to
discuss preparations for the third round of mutual evaluations and the
challenges facing the MENA-FATF (Middle East and North Africa Financial Action
Task Force) in combating money laundering and terrorist financing.
The Central Bank of Egypt hosted the 48th session of the council last year under the patronage of President Abdel Fattah El-Sisi. Abdalla also participated in the council's standing bureau meeting held in Abu Dhabi in July 2025.