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Arab markets successfully managed COVID-19 crisis thanks to central banks - Abul-Gheit

Arab markets successfully managed COVID-19 crisis thanks to central banks - Abul-Gheit
The Arab markets haven’t witnessed sharp fluctuations during the crisis

Riyadh – Mubasher: The leaderships of Arab stock markets have shown great resilience in dealing with the repercussions of the coronavirus (COVID-19) pandemic, Ahmed Abul-Gheit, Secretary-General of the Arab League, said on Monday.

The Arab markets haven’t witnessed sharp fluctuations during the crisis, Abul-Gheit added during the opening session of the AFE Annual Conference Saudi 2021, hosted by the Saudi Stock Exchange (Tadawul), in partnership with the Arab Federation of Exchanges (AFE), on 29-30 March.

He noted that markets in the region have navigated the crisis successfully thanks to the policies of central banks.

The upcoming period necessitates concerted efforts to maintain gains amid the pandemic, he asserted.

The secretary-general added that the leaders of financial institutions, especially stock markets, have a key role in achieving stability in markets which will in turn contribute to providing the required finance for boosting economic growth.

The Beirut-headquartered AFE was founded in 1978 as the guiding body for the Arab stock exchanges, under the recommendation of the Arab Central Banks Conference, held under the auspices of the General Secretariat of the League of Arab States in Jordan.

The AFE is home to Arab exchanges, clearing houses, and several financial institutions and brokerage firms in the Arab region.

Mubasher is the Platinum Sponsor of the AFE Annual Conference Saudi 2021.