The Arab Monetary Fund and OMFIF co-host the regional conference ‘Spearheading digital innovation and cross-border payments: the Arab CBDC conference’. With the decline of cash dominated economies, and the fragmented payments systems across the Middle East and North Africa region, it is vital that research and discussion on digital finance is conducted to enhance the future of financial markets. For this reason, the AMF and OMFIF are bringing together key policy-makers, technology experts, investors and regulators to explore the challenges, opportunities and implications of digital innovation and cross-border payments in the Arab region.
Abdulrahman Al Hamidy, director general chairman of the board of the AMF, said ‘This is useful co-operation with OMFIF. We are pleased to bring to life and co-host this important conference in the context of the rapid development of cross-border payment in the Arab region, particularly with the launch of the Buna platform.’ He stressed the importance of issues being discussed at the conference and is pleased that both OMFIF and the AMF are bringing together cross-sectoral expertise to address challenges and boost payments innovation across the Arab region.
Phil Middleton, chairman of OMFIF’s Digital Monetary Institute, said ‘We are honoured to announce OMFIF’s partnership with the Arab Monetary Fund for the forthcoming conference. OMFIF recognises that the region is of great importance when discussing cross-border payments, so it is a pleasure to create this regional form of our annual Digital Monetary Institute symposium. We support the AMF’s aim of promoting the development of Arab financial markets and we look forward to this event.’