Egyptians walk in front of the central bank in central Cairo, Egypt, June 7, 2017. REUTERS/Mohamed Abd El Ghany
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Central bank governors from leading economies in the Middle East and North Africa are attending a conference in Abu Dhabi, commenting on Gulf currency pegs and the art of regulating markets without stifling growth.North Africa's largest economy needs a "complete revamp" of its banking laws to introduce "sharp and crisp" governance for the sector, the central bank chief said.The Gulf nation's peg to a basket of currencies now provides leg room for the central bank as it tries to strike a balance between keeping a positive spread between the dollar and its local currency and keeping the economy stimulated, the governor said.
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