Secretary General of Arab Banks Association Wissam Fattouh. (The Daily Star/HO)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
The head of the Union of Arab Banks Mohammad Barakat warned that the de-risking requirements by international correspondent banks runs against the goals of the IMF and World Bank to combat poverty and create jobs.Barakat added that this concept runs contrary to the main goals and objectives of the International Monetary Fund and World Bank that aim to reduce poverty around the world and encourage growth through banking activities.He insisted that the banking and financial sectors in the region play a pivotal role in combatting money laundering and terrorism financing.
FOLLOW THIS ARTICLE