The Federation of Kuwait Banks announced the participation of the Secretary-General, Dr. Hamad Al-Hassawi, in the meeting of the secretaries and general managers of the associations and federations of Arab banks) and (the Forum for Banking Crisis Management and Financial Sustainability) in the presence of the Secretary-General of the Federation of Arab Banks, Wissam Fattouh, a member of the Federation’s Board of Directors, Chairman of the Investment Committee in the Union and Chairman of the Board of Directors The World Bank, Sheikh Muhammad Jarrah Al-Sabah.
Al-Hassawi stressed that “there is high confidence and great support from the monetary policies issued by the Central Bank of Kuwait and everything related to the economic structure of the state. There is also great focus and interest from the state and the central bank in always achieving this success.” And he considered that “the Kuwaiti banking sector, especially in light of the presence of the policies and circulars of the Central Bank of Kuwait in directing the sector and keenness on the required applications and standards, has performed well in the past period,” noting that during the global financial crisis that it witnessed in 2008, Kuwaiti banks had and under the guidance of the Central Bank A major role in maintaining the stability of this sector. He added, “The Kuwaiti banking sector today is a growing and successful sector with distinct profitability, and despite the crises that we went through from the Corona pandemic and others, the sector is still achieving profits and recording an acceptable growth rate at the global level.
Al-Hassawi said that the State of Kuwait has provided an excellent model for getting out of crises due to being a model for non-traditional solutions. He added that the Lebanese crisis is a crisis of confidence, calling on the government to develop a plan to restore this confidence.
During the conference, the Secretary General of the Union of Arab Banks, Wissam Fattouh, thanked the attendees, representatives of the Arab banking sectors, and under the umbrella of the Union of Arab Banks. Added to the career path.
Wissam Fattouh concluded the ceremony by thanking him for the fruitful and constructive cooperation between the Federation of Kuwait Banks and the Federation of Arab Banks to achieve the goals he set, due to his firm conviction that Arab banking cooperation is the basis for upgrading Arab banks to an advanced professional level.
