CAIRO: The Union of Arab Banks (UAB) is to hold a forum on financial inclusion from Sept. 17 to 19 in Sharm el-Sheikh, according to UAB’s website.
The forum will be under the auspices of the Governor of the Central Bank of Egypt Hisham Ramez.
“UAB forum will highlight the role of financial inclusion in enhancing economic and social stability and sustainable development,” said the website.
Participants are expected to discuss the role of inclusion in supporting small and medium enterprises (SMEs,) as well as how financial inclusion could be used in combating poverty, money laundering, and terrorist financing.
The UAB added that “financial inclusion is a key pillar” of a sustainable development strategy, for its impact on the financial and social stability and for its role in eliminating poverty and unemployment.
According to the World Bank’s Global Financial Development Report in 2014, approximately 2.5 billion adults around the world do not have access to financial services, although that year witnessed 62 percent of adults having bank accounts, compared to 51 percent in 2011.