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Gulf central bankers meet in Kuwait today
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Today, the governors of monetary institutions and central banks of the Gulf Cooperation Council (GCC) countries are meeting in Kuwait to discuss several issues, foremost of which are stimulating economic growth amid expectations of continued US interest rates.
The meeting aims at discussing the enhancement of the safety and effectiveness of the GCC financial and banking sector, the system of linking the payment systems and strengthening the infrastructure, which ensures a rapid, unified and safe payment across the GCC, thus improving bilateral and multilateral trade among GCC countries.
The meeting is likely to discuss joint action and coordination on supervision and oversight of the GCC banking system and developments on issues related to combating money laundering and terrorist financing.
Kuwait is presiding over the current session of the Supreme Council of the GCC. The meeting will be chaired by Dr. Mohammed Yousef Al-Hashil, Governor of the Central Bank of Kuwait, in the presence of Dr. Abdul Latif bin Rashid Al Zayani, Secretary-General of the Gulf Cooperation Council.
A statement issued by the Central Bank of Kuwait said that the 69th meeting of the Governors Committee reflects once again the important role played by the central banks of the GCC countries in pushing forward the march of joint economic action towards further achievements in the areas of monetary policies that promote monetary stability and favorable atmosphere to consolidate the pillars of economic growth and development. In addition to the monitoring policies and programs to consolidate the financial stability and the stability of the banking and financial system in the GCC countries, including the development of the infrastructure of payment and settlement systems in the GCC States.
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