الوسم: Central Bank

In a significant move to strengthen strategic partnerships and regional cooperation

the Central Bank of Egypt (CBE) hosted the 9th Annual Mediterranean Central Banks Conference

on Wednesday The conference convened prominent Central Bank Governors from Euro-Mediterranean

countries, alongside policymakers, economic experts, academics, and representatives from international

financial institutions Organized in collaboration with Banco de España (BdE), the Organisation for Economic

Co-operation and Development (OECD), the European Institute of the Mediterranean (IEMed), and the Union

for the Mediterranean (UfM), the event served as a crucial platform for dialogue and cooperation on pressing

economic and financial challenges at both regional and global levels

Egypt’s Commitment to Regional Stability and Prosperity Highlighted

H E Mr Hassan Abdalla, Governor of the Central Bank of Egypt, opened the conference

by welcoming participants from across the Mediterranean region He emphasized Egypt’s

dedication to fostering collaboration and exchanging expertise to ensure economic stability

and shared prosperity Mr Abdalla described the conference as a pivotal opportunity to deepen

cooperation among Mediterranean countries amid challenging global circumstances He underscored

the region’s historic role as a bridge connecting people, cultures, and continents, advocating for its

evolution into a hub of innovation, resilience, and inclusive financial systems “By working together

we can transform today’s challenges into opportunities for building a more stable and sustainable

financial future,” he affirmed

Strengthening Multilateral Financial Cooperation in Uncertain Times

H E Mr José Luis Escrivá, Governor of Banco de España, stressed the importance of enhancing

cooperation between central banks to build resilient financial systems that serve all societal segments

He highlighted the critical role of multilateralism in navigating current uncertainties, calling for active

efforts to reinforce and adapt multilateral frameworks to the rapidly changing global environment

Central Banks’ Expanding Role in Innovation and Green Finance

Mr Luiz de Mello, Director of the Country Studies Branch at the OECD, outlined the expanded

mandate of central banks beyond maintaining monetary stability He emphasized their pivotal

role in supporting innovation, green finance, and inclusive economic growth

Acknowledging the heightened need for open dialogue, Mr de Mello noted that the OECD

is committed to facilitating policy discussions aimed at strengthening cooperation, building trust

and advancing reforms for more resilient and sustainable economies across the Mediterranean

Addressing Geopolitical and Economic Pressures in the Mediterranean

Mr Senén Florensa, Executive President of the IEMed, highlighted the complex challenges

facing the Mediterranean region, including violent conflicts, global trade tensions, debt crises

climate risks, and the pursuit of more inclusive growth He emphasized the necessity of strong

central banks as pillars of financial stability amid these pressures

Similarly, H E Ms Meltem Büyükkarakaş, Deputy Secretary General of the UfM, pointed to ongoing

geopolitical tensions, developmental disparities, social inequalities, and the digital divide in the

Mediterranean. She stressed that realizing the region’s potential depends on advancing

integration through green and digital transitions, committing the UfM to translate this vision

into impactful, concrete actions

Key Conference Sessions Focus on Innovation, Sustainability, and Integration

The conference featured four main sessions addressing critical topics

Artificial Intelligence, Central Banks, and the Financial Sector

Moderated by the Governor of Banco de España, this session examined the transformative

role of artificial intelligence in the banking and financial sectors, focusing on maximizing benefits

while managing risks.Financing for Sustainable Development

Led by the Governor of the CBE, discussions centered on the role of central banks in accelerating

the green economy transition and channeling finance towards the Sustainable Development Goals (SDGs)

particularly in response to climate and environmental challenges

Financial Inclusion for All

This session highlighted initiatives designed to expand financial services accessibility

promote economic empowerment, and advance social equity through innovative and inclusive

financial solutions Financial Integration

The final session reviewed the OECD’s report on strengthening regional cooperation, enhancing

digital infrastructure, and improving policy coordination across fiscal and monetary domains in the Mediterranean

Closing Remarks and Future Outlook

In his closing statement, Mr Hassan Abdalla expressed gratitude to all participants

praising the productive discussions and innovative ideas shared He affirmed that the

conference outcomes represent a crucial step toward enhancing financial stability and

advancing sustainable, inclusive development throughout the Euro-Mediterranean region

The conference concluded with the announcement that the next edition will be hosted by

Banco de España Additionally, a technical preparatory meeting involving participating central

banks will be convened approximately four months prior to the next conference to ensure robust

coordination and knowledge exchange This conference underscores the vital role of regional

collaboration among central banks in harnessing innovation, driving green finance, and fostering

economic inclusion to build a resilient Mediterranean future amid global challenges