The traditional role played by Arab banks and banks across their various products is what made their role limited to financing individuals, buying goods and attention in consumer sectors, and allocating a specific area of financing facilities for investment and economic projects, and for this we believe that central banks have a renewed task in developing banking tasks and responsibilities to be a strategic partner in developing the economies of their countries.
This will come with the realization of Arab central banks to the challenges that rise to the economies of their countries, especially during this sensitive period, in which the rentier economies depend more on imports than exports, and also the fluctuations in the period in the prices of black gold and the policy of imposing algebraic domination through the tax portal, and these geo -economic changes driven by the great economies.
Central banks are one of the most important main players in developing economic and investment policies for the Arab countries, and the view that banks were yesterday. We believe that they began to transform, and today a desire for banks and banks to play a greater role in enabling the productive sectors by directing a financing space commensurate with the amount and quality of the investment and economic opportunities available in countries.
We have found in the Sultanate of Oman this desire present, which was announced by His Excellency Ahmed bin Jaafar Al -Muslimi, Governor of the Central Bank of Oman, by providing loans worth more than 25 billion US dollars during the next five years, targeting vital economic sectors, including tourism, renewable energy, supply, mining, agriculture, technology, education, health and fish sector, in a serious endeavor to review the current distribution rates targeting the facility According to the Omani national vision.
The manufacture of a human cadre is qualified in the banking sectors, whether in the central banks or banks in the Arab countries, it recites the indicators, pays attention to investment opportunities, and it is freed from the hedging areas, and works to develop and modernize the legislation and special laws in financing policies in accordance with investment and economic opportunities, is an imperative to achieve on the Arab banking sector, and this can come through the following:
First: The choice of competencies enjoying administrative expertise and the perception of political conditions and geo -economic changes and how to make opportunities to develop human cadres driving financing products for industrial and investment projects that are appropriate to the aspirations of their economies.
Second: Finding entities, committees, Qatari administrative teams (Gulf, Arab) working to develop the financing tools for banks and making new tools commensurate with the growth of the economies of the countries of the region, and that the central banks can focus on their internal projects, and achieve development according to economic security programs.
Third: Implementing specialized workshops between the Gulf and Arab central banks regarding the study of human resources industry programs that are appropriate to the aspirations of societies and also with the relative advantage of each group.
I believe that the forty -eighth annual meeting of the Arab Monetary Fund Governors Council, which was recently held in the sisterly state of Kuwait, discussed the contributions of the fund in building and developing human capabilities in the Arab countries, and it has a great dependence on achieving this ambitious vision, which contributes to achieving the strategic dimension, which will serve the economies of Arab countries.
* A media advisor specializing in economic affairs
