Saudi Arabia Seeks Enhanced Collaboration with Switzerland in Financial and Insurance Sectors

KSA, 22 June, 2024 :  Saudi Minister of Finance Mohammed Al-Jadaan has expressed Saudi Arabia's interest in expanding its collaboration with Switzerland, including in the insurance sector, while exploring new markets and adopting best practices. This announcement was made during the inauguration of the 4th Saudi-Swiss Financial Dialogue in Zurich, Switzerland, on Thursday.

Al-Jadaan led the Saudi delegation, which included senior officials from the Ministry of Finance, Saudi Central Bank, Insurance Authority, Financial Sector Development Program, and Fintech Saudi. The Swiss delegation was headed by Karin Keller-Sutter, Head of the Swiss Federal Department of Finance and Vice President of the Swiss Federal Council, along with other Swiss officials.

In his speech, Al-Jadaan highlighted the importance of the dialogue in strengthening bilateral relations and advancing economic and financial interests. He noted Switzerland's role as a key trading partner, with over 100 Swiss companies operating in Saudi Arabia. He emphasized the significance of building on existing Fintech collaborations, leveraging the expertise and investments from both nations.

Keller-Sutter stressed the importance of international cooperation in the financial sector, noting Switzerland's active contribution to preventing financial crises through its expertise and collaboration with Saudi Arabia in multilateral bodies.

The dialogue covered new opportunities for bilateral cooperation, the macroeconomic outlook, international multilateral cooperation, and recent developments in banking, digital finance, insurance, and sustainable finance.

Source : www.saudigazette.com.sa