Dr. Mohamed Maait, Executive Director and Representative of the Arab and Maldives Group at the International Monetary Fund, emphasized the importance of the Arab banking sector maintaining its resilience amid current geopolitical instability. Speaking to the Middle East News Agency in Paris during the Arab Banking Summit, Dr. Maait highlighted the uncertainty caused by complex global and regional conditions, which extend beyond political and military impacts to affect the economy as well. “The banking sector is now exploring ways to deal with this uncertainty, characterized by extreme volatility and undefined variables,” he stated.
Dr. Maait also noted the significance of such discussions, as the banking sector is the backbone of any economic system. He stressed the need for the Arab banking sector to formulate policies to handle ongoing and future crises, emphasizing regional cooperation as a key solution moving forward. “The reliance on international institutions like the World Bank or IMF may not be the sole solution in the future. Geographic regions must strengthen their institutions to become the first and strongest line of defense,” he explained.
During the summit, Dr. Maait called for structural reforms, investments in human capital and infrastructure, and support for small and medium enterprises, advocating for an Arab-European partnership to achieve sustainable growth through flexible fiscal policies and resource integration. The summit, held under the theme of “Economic Resilience Amid Geopolitical Changes,” aimed to foster collaborative dialogue on shared economic and banking challenges between Europe, the Middle East, and North Africa.
— news from معلومات مباشر