Arab bankers demand the establishment of a fund to support development in cybersecurity

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Today, Saturday, the work of the first Arab banking forum for cybersecurity concluded with the participation of more than 270 leaders of local and Arab banks and major regional and international companies specialized in the field of cybersecurity, which was organized by the Union of Arab Banks in cooperation with the Central Bank of Egypt.

The participants in the forum recommended the necessity for banks and financial institutions to strengthen banking infrastructure in view of the close relationship with maintaining banking stability, calling for the establishment of centers and teams to respond to computer emergencies for all vital sectors, foremost of which are banks and financial sectors in the Arab countries.

The participants also called for the establishment and establishment of a unified response center for Arab countries to coordinate between all the response centers designated for banks and financial sectors in the Arab countries and to establish an Arab fund to support research and development in the field of cybersecurity and play an active role in it.

The participants stressed the inevitability of sharing information and data of cyber incidents as they occur between banks and financial institutions on the one hand, and the national response centers and teams assigned to banks and financial sectors in the Arab countries on the other hand.

The participants also called for establishing and updating a comprehensive system of cyber legislation that is compatible with the needs of the digital environment and its applications, allows user protection and enables building confidence by using cyberspace and its services.

The participants called for encouraging investment in cybersecurity disciplines and working to build capacities in this field in the Arab region, taking into account the provision of continuous and specialized training and qualification for all human cadres, expanding the circle of specialists and workers in the field of cybersecurity, and providing job and training opportunities for all categories of specialists (graduates and specialists). .

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The article, Arab bankers demanding the establishment of a fund to support development in cyber security, was written in Al Borsa newspaper.