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CAIRO, July 10, 2018 -- Egypt has taken over the chairmanship of the Association of African Central Banks (AACB) for the first time since its establishment.

The AACB  is affiliated to the African Union and comprises 40 African central banks.

The  41st annual meeting will be held in Sharm El Sheikh from September 5 to 9, coinciding with the 50th anniversary of the AACB. 

The association aims at developing co-operation to achieve financial stability in Africa. It also encourages central banks to exchange expertise in the field of finance.

 

 

CAIRO, July 10, 2018 (MENA) - Central Bank of Egypt (CBE) Governor Tarek Amer will assume the presidency of the Association of African Central Banks (AACB) for a one year term in August.

In statements to MENA on Tuesday, CBE Governor's Assistant Secretary Naglaa Nazhi said Amer will assume the presidency of AACB, based in Senegal, on the fringe of his participation in the 41st annual meetings of AACB, due to be held in the Egyptian Red Sea resort city of Sharm el Sheikh on August 5-9.

Established in 1968, AACB aims at promoting cooperation in the monetary, banking and financial spheres in the African region, assisting in the formulation of guidelines for agreements among African countries in the monetary and financial fields, helping to strengthen monetary and financial stability in the region and examining the effectiveness of international economic and financial institutions in which African countries have an interest and suggesting ways of their possible improvement.