Riyadh – Mubasher: The Kingdom of Saudi Arabia, represented by the Saudi Central Bank “SAMA”, will host on Sunday and Monday, September 18 and 19, 2022 in Jeddah, the meeting of the 46th regular session of the Council of Governors of Arab Central Banks and Monetary Institutions, and the high-level round table workshop accompanying the meeting On "Digital Currencies for Central Banks and the Future of the Monetary System", sponsored by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud.
The Saudi Central Bank said, in a statement today, Wednesday, that the meeting will witness the participation of a number of senior officials of the International Monetary Fund and the Financial Stability Board, as well as experts from international institutions and global central banks.
He also made it clear that the governors of Arab central banks and monetary institutions will discuss during the meeting a number of main topics; Most notably: the global inflationary wave and its repercussions on monetary policy in the Arab countries, the risks of the repercussions of climate change on the financial sector and banking services, and the challenges of shifting towards green finance, in addition to the requirements and challenges of rebuilding capital and liquidity margins in the banking sector after lifting support packages.
And the Central Bank indicated that the agenda of the meeting will include informing the governors of Arab central banks and monetary institutions about reports on the work of the committees and work teams emanating from the council, as well as reviewing the fifth edition of the Financial Stability Report in the Arab Countries for the year 2022 AD, and the Unified Arab Economic Report for the year 2022 AD, to As well as briefing on the unified Arab speech for the year 2022 AD, which will be presented by the Arab Group at the annual meetings of the International Monetary Fund and the World Bank next October 2022 AD, which reflects the views of the Arab countries towards the current economic developments.
The Governor of the Saudi Central Bank, Fahd bin Abdullah Al-Mubarak, stressed the importance of this meeting in light of the rapid events and developments that the region and the world are witnessing in all fields in the economic and financial sectors.
Al-Mubarak praised the efforts made by the secretariat of the Board of Governors of Arab Central Banks and Monetary Institutions, whose work is carried out by the Arab Monetary Fund, in following up on topics and developments, preparing for the meeting of the Board, and following up on the development of the work of the committees and work teams emerging.
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