The Union of Arab Banks (UAB) and the United Nations Development Program (UNDP) recently signed a deal for the establishment of an Arab legal information database network to serve the region’s banking sector.
The focus of the project is to link Arab Automatic Teller Machine (ATM) networks, modernize their payment systems, create a regional banking network and launch a mediation and arbitration center to resolve banking and financial disputes between Arab banks.
The project is in accordance with the UN Program on Governance in the Arab Region (POGAR). Initiated in 2000, POGAR is geared toward assisting governments, civil society and the private sector in improving governance processes in Arab countries.
UNDP’s work in the Middle East has ranged from capacity building to policy formulation. The organization works directly through its 17 country offices to target development assistance based on the needs of each Arab country. For the planning period of 2001–2004, the regional program is focusing its efforts on governance, global economic competitiveness, and information and communications technology (ICT). — (menareport.com)
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