(MENAFN- Daily News Egypt) Hassan Abdallah, Governor of the Central Bank of Egypt (CBE), has reaffirmed the importance of sustained coordination between monetary and fiscal policies, describing it as essential for maintaining macroeconomic stability while supporting economic growth. He noted that this policy alignment remains a cornerstone in addressing the economic challenges arising from both regional and global uncertainties.

Abdallah made his remarks during the opening session of the annual conference of the Egyptian Financial Markets Association (ACI Egypt), held recently in Alexandria. The event was attended by senior executives from Egypt's banking and non-banking financial sectors.

At the outset of his speech, Abdallah underscored the CBE's pivotal role in maintaining monetary and financial stability, noting that the bank's current policy framework is effectively containing inflation and preserving price stability within the broader context of Egypt's economic strategy. These efforts, he said, are part of a comprehensive approach aimed at reinforcing public and investor confidence in the national economy.

A Scene from the panel discussion with the participation of the Central Bank during the conference

The Governor also highlighted the CBE's ongoing work to enhance the foreign exchange market, including the introduction of new tools to deepen market liquidity and improve efficiency. He outlined the core pillars of the Bank's banking sector development strategy, which include enhancing the efficiency of banking operations, modernizing technological infrastructure, and expanding financial inclusion to ensure access to financial services for all customer segments.

Omar Khattab, Chairperson of ACI Egypt, praised the CBE's efforts in containing inflation and maintaining exchange rate stability, despite challenging global conditions. He pointed to the recent buildup of foreign reserves to levels sufficient to cover Egypt's external obligations for six months as a sign of the economy's resilience and the central bank's effective stewardship.

The conference featured a panel discussion with the participation of Khattab, Amr Mostafa, Vice Chairperson of ACI Egypt; Sally Refaat, CBE Assistant Governor for Markets; Zakia Ibrahim, CBE Deputy Assistant Governor for Monetary Policy; and Omar Shoukry, Head of Treasury and Trading. Panelists examined the CBE's approach to monetary policy, strategies for controlling inflation, the impact of interest rate trends, and the central bank's role in fostering economic growth.

Founded in 1998, the Egyptian Financial Markets Association (ACI Egypt) brings together financial market professionals from banking and financial institutions across Egypt, providing a platform for dialogue, knowledge exchange, and policy engagement.

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