...................Ancient Koch Palace"The second session will discuss lessons learned from the financial crisis on financial stability and banking supervision, while the third session will discuss the current challenges in the area of monetary policy and exchange rate policy in the GCC"
6/30/2010
European-GCC seminar on monetary issues begins
ROME, A scheduled senior-level seminar organized by the European Central Bank and the Bank of Italy got underway here on Wednesday with participation of Sheikh Salem Abdel Aziz Al-Sabah, Governor of the Central Bank of Kuwait and the chairman of the GCC countries central banks committee.
The second high-level seminar of the Eurosystem, involving GCC central banks and financial authorities, groups governors of central banks and monetary agencies in the Arab Gulf countries, their eurozone counterparts, ranking representatives of the European Commission and the GCC Secretary General Abdul Rahman Al-Attiah.
The forum is aimed at enhancing the level of relations and cooperation between the European and GCC monetary officials.
Agenda of the three-session gathering, held at the ancient Koch Palace that serves as the headquarters of Banca d'Italia, the central bank of Italy, deals with most significant economic and financial issues in the GCC and eurozone countries, impact of the global financial meltdown, means to solidify the international financial stability and banking supervision and exchange policies in the GCC states.
Sheikh Salem arrived here on Monday to take part the seminar, in response to a formal invitation from both the ECB and the Bank of Italy.
He earlier said that this seminar was aimed at developing relations and providing an opportunity for an exchange of views between the Eurosystem and GCC central banks and monetary agencies. He added that the seminar would focus on three issues of common concern, namely latest economic and financial developments in the GCC and euro zone.
The CBK Governor will address the first session of the seminar and discuss the latest economic and financial developments.
The second session will discuss lessons learned from the financial crisis on financial stability and banking supervision, while the third session will discuss the current challenges in the area of monetary policy and exchange rate policy in the GCC.
The CBK Governor will be a key speaker, addressing the theme "Lessons for monetary policies from the financial crisis." At the end of the seminar, a news conference will be held by the President of the European Central Bank, Bank of Italy Governor, and the Central Bank of Kuwait Governor.
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