Recommendations on Improving Arab Banking and Financial System

The Arab Committee for Improvement of Financial and Accountancy Systems at the Arab League specialized affiliated establishments ended on Wednesday a seven-day meeting with a package of recommendations and suggestions to further update performance in this field.

The Committee recommended that the AL General Secretariat cooperate with Kuwait, in its capacity as Head of the Action Committee, to reclassify the items of the united financial and accountancy statute of the AL affiliated establishments, and then send them to the member states for ratification.

It also suggested asking the Arab Fund to outline an improved united system on specialized software to facilitate doing financial, statistic and analysis reports.

For his part, Director General of the Arab Center for the Studies of Arid Zones and Dry Lands (ACSAD), Farouk Fares, said the Committee findings were very important and would positively reflect on the work of the Arab specialized organizations and help them overcome administrative and financial obstacles.