(MENAFN - Khaleej Times) The Arab Monetary Fund, the World Bank, the Consultative Group to Assist the Poor, and the German Development Agency, jointly organised the forum.
The Governor of the UAE Central Bank, Sultan bin Nasser Al Suwaidi, has underscored the UAE's efforts to advance financial inclusion and urged for aligning it with the country's efforts to implement the smart government initiative which requires providing all financial services in an electronic, safe and trustworthy way round the clock.
Al Suwaidi made his remarks in his keynote speech read out by Saif Hadef Al Shamsi, Assistant Governor of the UAE Central Bank for Monetary Policy and Financial Stability, at the opening of the '5th Arab Policy Forum on Financial Inclusion' which concludes today in Abu Dhabi.
The Arab Monetary Fund, the World Bank, the Consultative Group to Assist the Poor, and the German Development Agency, jointly organised the forum.
"In recent years, financial inclusion received attention on the international level, in particular when the G20 group adopted it as a main pillar of the economic and financial development agenda," said Al Suwaidi. He noted that UAE Central Bank proposed financial inclusion as a key item on the agenda of the 11th GCC Banking Conference on the 'Role of the GCC Banking Sector in Supporting GCC Economies' which took place last month in Abu Dhabi.
Al Suwaidi further noted that among the most important indicators for financial inclusion in the UAE was the total number of current, saving and deposit accounts which went up to 7.3 million, or 86.5 per cent of the country's population, by the end of 2012.
More than 80 high-level policymaker representing Central Banks, Ministries of Finance, and financial regulatory, supervisory, and standard-setting bodies from the Arab world are joining financial service providers and representatives from international organisations at the forum.