Algerian PM reiterates his country's readiness to support joint Arab work

ALGIERS, Sept 17 (KUNA) -- Algeria's Prime Minister Ayman Ben Abderrahmane affirmed Sunday his country's complete readiness to support efforts aimed at boosting the joint Arab work, saying, "Algeria always supported financial and monetary stability in the Arab world.

" During his chairmanship of the 47th Ordinary Session of the Arab Council of Arab Central Banks and Monetary Authorities Governors, Benabderrahmane stressed the importance of innovation and digital transformation in the financial sector, noting that through its new financial and monetary law, Algeria is moving towards the digitization of its economy along with securing the security and reliability of its financial systems. He also praised the "Buna" system founded by the Arab Monetary Fund in 2018 as an efficient infrastructure for cross-border payments in the Arab world and shed light on foreign financing for some Arab countries in light of the high-interest rates globally. He affirmed that the joint Arab work can resolve "all difficulties facing us" and that Arab countries can get essential financial and monetary support from the Arab Monetary Fund to overcome this phase. He added that the meeting is an opportunity to support the vital role of the central banks and Arab monetary institutions to achieve further cooperation and exchange of expertise and is also an opportunity to coordinate and unify Arab efforts to confront the current challenges. (end) mr.si.