The Arab Monetary Fund Looks At The Possibility Of Using Cryptocurrency; The Arab Committee for Payment and Settlement Systems of the Arab Monetary Fund discussed in Abu Dhabi the use of digital currencies “Cryptocurrency” and their impact on the payment and settlement systems and the role of the supervisory authorities, supervisory and supervisory.
The meeting addressed the settlement of small payments and issues related to developments in the supervision and control function of payment and settlement systems.
Discussions focused on cross-border remittance and Swift risks, cross-border transfers of small payments, and follow-up on the preparation of the statistical report on payments and settlement in Arab countries.
The Committee will also hear a presentation by the World Bank on developments
The meeting will also discuss the latest developments in the work of the International Committee on Payment and Settlement Systems (CPMI), in addition to discussing the report issued by the Bank for International Settlements in March 2018 on Cryptocurrency of central banks.
The Committee will also discuss the views of the Arab countries on the issues and developments in the international payment, settlement and coordination systems.
The Committee emanates from the Board of Governors of Central Banks
The meeting of the Committee will be attended by a representative of the General Secretariat of the Gulf Cooperation Council as an observer, together with a representative of the World Bank.