The Arab Committee on Banking Supervision (ACBS) was established in 1991 by the Council of Governors of Arab Central Banks and Monetary Agencies.
Membership of ACBS consists of the managers of banking supervision departments in the Arab countries. Similar to its role in the Council of Governors, the Arab Monetary Fund acts as the Technical Secretariat of the ACBS.
The Council identified a set of objectives for this committee, the most important being:
- Monitoring of compliance with the Basel Committee standards on capital adequacy
- Identifying opportunities for application of international practices in banking supervision in Arab countries
- The development of banking legislation and accounting systems with the objective of standardization among the Arab countries.
In addition, it’s an objective of the Committee to provide training and technical assistance to the AMF’s member states for developing their own supervisory capacities.
In this regard, it should be noted that the Arab Monetary Fund, as the technical secretariat of the Committee, contributes to coordination on banking supervision field, and exchange of experience among Arab countries, by providing training courses at the AMF’s Economic Policy Institute for staff working in banking supervision departments.