H.E. Ambassador Mohamed Al Rabie, Secretary General, Arab Economic Unity Council League of Arab States, emphasized that the “League” is seeking to enhancing Fintech in the region countries, as it believes in the importance of fintech’s role in improving the economic growth of the region’s countries, as well as its ability to meet the expectations of the Arab youth, and support their innovation, production, to pioneer in digital economy, this would enable them to play their natural part in the renaissance of their Arab society. The League of Arab States supported fintech through issuing the first draft of the Arab Common Vision for Digital Economy, which aims at enabling and improving cooperation based on digital knowledge, developing technological and legal infrastructure, and supporting plans for digital transformation and technological development in the Arab region.

And within his speech, on Tuesday, the second day of “Seamless North Africa 2019” conference, H.E. explained that the League of Arab States has developed around 50 pioneering projects for digital transformation in all the Arab countries, keeping into consideration economic and social circumstances of each country, following the studies performed by the Council of Arab Economic Unity, to produce the first draft of the Arab Common Vision for Digital Economy. This is part of the efforts of the League of Arab States, to cope with the global major changes in the fields of digital economy, through mobilizing the Arabic capabilities along with international expertise, and enabling Arabic cooperation to achieve a group of objectives of positive effect, that would raise the Arab societies.

H.E. Mohamed Al Rabie added that cooperation among Arab countries, and collaborative efforts, towards digital transformation, are considered main resource for building the productive potential, that would be suitable for the new digital economy, he also emphasized the role of H.E. President Abdel Fattah el-Sisi, and his government, for total transformation towards digital economy, pointing to the Egyptian national program for economic reform, that includes a comprehensive view at improving the country’s economy.

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