SESRIC and Central Bank of Sudan (UAE) organised the Second Interim Meeting of the Working Group on Macro-Prudential Regulations. The Meeting was held on 27 May 2013 in Khartoum, under the hospitality of Central Bank of Sudan. A total of 6 representatives from 5 central banks and monetary authorities of Organisation of Islamic Cooperation (OIC) member countries, and SESRIC, attended the Meeting. SESRIC was represented in the Meeting by Dr. Umut UNAL, Centre’s Researcher.

The 2012 Meeting of the Central Banks and Monetary Authorities of OIC Member Countries, which was held on 14-15 May 2012 in Istanbul, Turkey, resolved to establish three working groups, namely the Working Groups on Liquidity Management in Islamic Finance, Macro-Prudential Regulations, and Payment Systems, to prepare Technical Background Reports for the 2013 annual meeting to be held in Riyadh, Saudi Arabia, under the hospitality of the Saudi Arabian Monetary Agency (SAMA). In this respect, the Second Interim Meeting aimed to revise and further improve the first draft of the Technical Background Report for the Working Group on Macro-Prudential Regulations.

The Working Group on Macro-Prudential Regulations is comprised of the central banks and monetary authorities from 7 member countries of the OIC, namely Sudan and UAE, as the Co-chairs of the Working Group, in addition to Brunei Darussalam, Oman, Saudi Arabia, Uganda, and Turkey.

Since 2009, SESRIC assumes the role of Coordinator and Secretariat for the Annual Meetings of the Central Banks and Monetary Authorities of OIC Member Countries. The Centre also oversees the activities of the three working groups which were established pursuant to the resolutions of the 2012 Annual Meeting.