SHARM EL-SHEIKH, Egypt — The issue of terrorism is present in any public activity or event in the Middle East. This was the case during the conference that the Union of Arab Banks called for in Sharm el-Sheikh in Egypt, Sept. 17-19, attended by Al-Monitor.

The conference was held in the general absence of the media and under the direct auspices and participation of the Egyptian authorities, represented by the governor of the Central Bank of Egypt, Hisham Ramez Abdel Hafez. About 50 figures from the Middle East, specialized in banking and finance, economy, politics and security, were also present.

The conference’s main goal was discussing the relationship between financial inclusion and the stability in the Arab countries. However, the discussions soon focused on the issue of money laundering, and more particularly on the issue of financing terrorism.

Secretary-General of the Union of Arab Banks Wissam Fattouh told Al-Monitor that the transition from the issue of financial inclusion to money laundering and financing illegal activities is understandable in the Arab banking sector, as it is deploying great efforts to cooperate with different concerned bodies in the West, international institutions and UN agencies working in the field of fighting terrorism.