Arab Central Bankers Seek Greater Cooperation

Arab central-bank governors called for greater governance of banks struggling with hefty exposure to troubled businesses in their meeting Monday.

"The next phase will require closer cooperation between central banks and monetary institutions," United Arab Emirates central-bank chief, Sultan bin Nasser Al Suwaidi, said in his opening speech.

Calls for greater coordination and regulation among Middle Eastern countries formed the main theme for Monday's meeting, echoing similar calls from the meeting of the Group of 20 leading economies last week.