Mohamed El-Etreby, Chairman of the Union of Arab Banks and CEO of Egypt’s National Bank, emphasized the need for a comprehensive forward-looking strategy to support development and overcome current economic challenges. Speaking during the International Arab Banking Conference organized by the Union of Arab Banks, he stressed the importance of adopting a clear roadmap that includes deep economic reforms and strengthening the role of the financial and banking sector in driving growth.
He highlighted that enhancing youth and women’s participation in the economy, along with broader social reforms, is essential for sustainable progress. Among the key regional challenges, El-Etreby pointed to slowing economic growth rates, exchange rate volatility, and rising unemployment levels.
Despite these obstacles, he noted that Arab countries possess significant potential, particularly through their young population—accounting for 60 percent of the labor force—as well as diverse investment opportunities across various economic sectors. He underscored the importance of increasing foreign direct investment and advancing environmental cooperation among Arab nations to foster long-term resilience and inclusive development.
— news from المصدر
— News Original —
Mohamed El-Etreby: The Necessity of Strengthening the Financial and Banking Sector to Support Economic Growth Rates
Mohamed El-Etreby, Chairman of the Union of Arab Banks and Executive Chairman of Egypt’s National Bank, stated that the current phase requires a comprehensive future vision and support for development pathways to overcome existing challenges.
He added in a statement that a roadmap should be adopted, including the implementation of deep economic reforms and enhancing the role of the financial and banking sector in supporting growth, empowering youth and women, and other social reforms.
He emphasized during the International Arab Banking Conference, organized by the Union of Arab Banks, that slowing economic growth rates, exchange rate fluctuations, and rising unemployment are among the main challenges facing regional countries.
He noted that Arab countries have great potential in youth, who represent 60 percent of the workforce, in addition to numerous diverse investment opportunities across all economic sectors, pointing out the importance of boosting foreign direct investment and supporting Arab environmental cooperation.