Despite the developmental achievement attained by the Arab counties during the past period, the Arab world is still facing regional and international challenges affecting the security, safety and economies of its nations, the Union of Arab Banks (UAB) in a statement, said.
Experts from across the region converge to Abu Dhabi to deliberate on daunting challenges being faced by the Arab region during a two day conference kicked off on Wednesday under the titled ‘the Arab Banking Conference 2012 Challenges of the Arab Economic Security.’
The President of UAB Adnan Ahmed Yousif also addressed the conference among other prominent speakers, experts and economists.
“On the Arab front, the political situation and security disturbances witnessed in various countries in the MENA region have staggered many economic experts and analysts around the world, and have been the subject of discussion in various periodic economic seminars, where a lot of talk is directed to the nature of the regions problems and the danger of global implications from the current events,” Adnan Yousif said.
“These developments have raised a lot of question marks and rang the danger bells to what threatens the future of the Arab economies, and protects the security and safety of the Arab nations and its social wellbeing. From this point, and in its strategy for 2012 aimed at approaching the implications of the Arab transitions, limit the damages, and strengthen Arab bilateral relations that could preserve the economic security of its nations and people, the Union of Arab Banks has decided to organize it Arab Banking Conference for this year in Abu Dhabi entitled ‘Challenges of the Arab Economic Security’ taking into consideration its status and leading economic role in the region,” he added.
Stemming from this are poverty, unemployment, modest standard of living, low bilateral trade and investment rates, migration of Arab funds and competencies, weak infrastructure and education levels, not keeping pace with development requirements and global competitiveness, in addition to the problems of food and water security, climate change, energy and non-optimal use and mobilization of resources, while adding to the mix the various international challenges particularly the global financial and economic crisis and its implications on the global financial markets, recession, and contraction in the various economies including the Arab economies.