Al Markazi: The digital transformation of banking services is part of the post-Covid-19 economy

The Governor of the Central Bank, Abdul Hamid Muhammad Saeed Al-Ahmadi, stressed the importance of making use of modern financial technologies and the digital transformation of banking services, to be part of the economy after the "Covid-19" period, referring to the excellence achieved by the UAE in this field and the Central Bank's action plan to support National economy.

This came while chairing today the forty-fourth regular session of the Council of Central Banks and Arab Monetary Institutions, which was held remotely.  

The governor of the Central Bank said, "The issues and developments discussed in this meeting represent the most prominent directions that we, as financial policy makers, must work towards moving forward in order to ensure the stability and vitality of our national economies," stressing the need to adopt regulatory and monetary policies in order to mitigate The economic repercussions of "Covid-19".

This meeting, organized by the Arab Monetary Fund, aims to shed light on the most important issues and topics of priority for central banks, especially in light of the current circumstances. It also touched on the impact of the economic, financial and monetary repercussions of the "Covid-19" epidemic and the options, policies and tools available for the post-epidemic stage. In particular, with regard to the economic and financial policy challenges to support the post-crisis economic recovery, and the main systemic risks that threaten financial stability and the role of central banks.

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