Governor of Bank Al-Maghrib (BAM), Abdellatif Jouahri, called on Wednesday in Tunis for enhanced cooperation among Arab central banks to tackle the ongoing global political, economic, and trade shocks.
In a statement to MAP on the sidelines of the opening of the 49th Ordinary Session of the Council of Arab Central Bank Governors and Monetary Agencies, Jouahri explained that this session will focus on the political and economic shocks the world is experiencing, recently compounded by trade-related shocks.
Jouahri added that these developments pose a challenge for central banks, with each country striving to confront them with its own means, advocating in this context for increased cooperation among these institutions.
This session will also feature a meeting on combating the financing of terrorism and money laundering, with the aim, according to the Morocco's central bank chief, of allowing countries on the grey list to draw inspiration from the experiences of countries that have been removed from that list, such as Morocco.
Regarding the current level of Arab coordination and cooperation in the monetary field, Jouahri pointed out disparities between Arab countries (e.g., oil producers vs. non-oil producers), noting that Morocco's monetary policy figures are "exemplary."
He explained that the Moroccan central bank has engaged in cooperation with several of its Arab counterparts, in line with the policy pursued by the Kingdom under the enlightened leadership of His Majesty King Mohammed VI.
