Focus on access to financial services
The Arab Monetary Fund, in collaboration with the Central Bank of the United Arab Emirates, inaugurated the ‘Financial Health’ Conference in celebration of the Arab Financial Inclusion Day, with the participation of a wide range of regional and international financial institutions.
The conference highlighted the strategic transformation in the concept of financial inclusion—from focusing on access to financial services to foster individuals’ financial health, thereby enhancing their ability to achieve financial stability and economic sustainability.
In his opening remarks, HE Dr. Fahad M. Alturki, Director General and Chairman of the Board of the Arab Monetary Fund, stated that Arab countries have achieved notable progress in expanding financial inclusion, with financial account ownership reaching approximately 53% by the end of 2024, compared to 43% in 2014.
Financial health
The conference also emphasized the importance of strengthening financial health in light of challenges related to the limited effective use of financial services and low levels of savings, particularly among certain segments of society.
For her part, HE Fatma Abdulla Al Jabri, Assistant Governor of the Central Bank of the UAE for Financial Crime, Market Conduct, and Consumer Protection, affirmed that the Central Bank places great importance on supporting financial inclusion and financial health at both the national and regional levels.
Regulatory frameworks
She noted that this is achieved through the development of policies, regulatory frameworks, and strategic initiatives that keep pace with developments in the financial sector and support its sustainability.
This conference comes within the framework of a strategic direction that reflects the Arab Monetary Fund’s vision to support economic and financial stability and achieve sustainable growth by empowering individuals and enhancing the efficiency of managing their financial resources, a press statement concluded.
