Arab Committee on Banking Supervision (ACBS)
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Aug 1991, by E-XE2603 - Council of Arab Central Banks and Monetary Agencies' Governors (CGACB) to study the decisions of E-XE0385 - Basel Committee on Banking Supervision (BCBS), specifically those concerning international convergence of capital measurement and capital adequacy requirements, to determine and assess both short and long-term impact of their implementation on the Arab financial and banking sector and to recommend a coordinated and pragmatic approach towards the issues involved. Established as a permanent committee with wider objectives, 1992.
Follow progress made by Arab banks in implementation of the capital adequacy standard set by the Basel Committee; inform member countries of latest developments in the banking sector and concurrent supervisory requirements for enhancement of its soundness and directives issued by the Basel Committee; review methods and procedures of banking supervision practised in Arab countries with the aim of their standardization; harmonize between accounting systems adopted by Arab countries and work towards their future unification in a way that fully conforms with the International Accounting Standards; review and harmonize banking legislation in Arab countries; strengthen the role of banking supervision in the Arab countries and facilitate and mobilize technical aid and training to supervisory authorities; liaise and coordinate with supervisory groups.
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Committee meets at least annually. Task Force, comprising members from Algeria, Bahrain, Egypt, Lebanon, Qatar, Saudi Arabia, Tunisia and the United Arab Emirates.
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UN Sustainable Development Goals **
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