El-Attrabi Calls for Deep Reforms to Strengthen Arab Banking and Economic Growth
Mohamed El-Attrabi, Chairman of the Union of Arab Banks and CEO of the National Bank of Egypt, underscored the urgent need for Arab countries to adopt a comprehensive, future-focused vision to overcome current economic challenges and accelerate development across the region.
El-Attrabi stressed that fast-tracking deep economic reforms and reinforcing the role of the financial and banking sector have become critical priorities. He added that empowering youth and women, alongside advancing wide-ranging social reforms, is essential to ensuring inclusive and resilient growth.
Addressing the key obstacles facing Arab economies, El-Attrabi pointed to slowing economic growth, currency volatility, and rising unemployment rates as major concerns. This comes despite the region’s significant potential, with young people representing nearly 60% of the workforce and a broad spectrum of promising investment opportunities available across various sectors.
He emphasized that boosting foreign direct investment inflows and enhancing regional environmental cooperation will be vital in unlocking sustainable economic development and strengthening the competitiveness of Arab markets in the years ahead.