Marrakech – The Annual Joint Meetings of the Arab Financial Institutions, held under the patronage of HM King Mohammed VI, ended, on Wednesday in Marrakech, with the participation of some 350 figures from the economy sphere.
The event was marked by a royal message from HM King Mohammed VI to the participants, read out during the opening session by Economy Minister Nizar Baraka.
In this message, HM the King pleaded for the development of inter-Arab economic and financial cooperation in order to rise to the challenges of development, highlighting the role of Arab financial institutions as a “key lever for the promotion of cooperation and complementarity between Arab sister nations.”
The Sovereign urged these institutions to adopt “proactive approaches” and next-generation economic reforms to come up with innovative, practical solutions “adapted to our globalized world.”
The behind-closed doors meeting was an occasion for the participants to examine matters related to Arab financial institutions notably the adoption of yearly reports on financial activities, administrative budgets and the appointment of financial controllers.
The event was attended mainly by Arab financial institutions’ managing directors and chairmen of boards of directors, as well as Arab Economy and Finance ministers
On the sidelines of this event, Morocco and the Islamic Development Bank signed a memorandum of understanding aimed at strengthening bilateral cooperation ties.
Similarly, the Economy Ministry and the Arab Fund for Economic and Social Development signed a guarantee and a credit agreements worth over 864 million dirhams to finance the highway linking El Jadida to Safi.
The Annual Joint Meetings were also marked by holding the third ordinary session of the Council of Arab finance ministers.
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