SAMA Hosts Financial Stability Board MENA Meeting to Address Regional Financial Risks

KSA, 8 November, 2024 :  The Saudi Central Bank (SAMA) hosted the Financial Stability Board's (FSB) Regional Consultative Group (RCG) meeting for the Middle East and North Africa (MENA) on November 6, 2024, in Riyadh. The meeting was led by SAMA Governor Ayman M. Al-Sayari and co-chaired by Hassan Abdalla, Governor of the Central Bank of Egypt. Discussions focused on the FSB’s 2025 work plan, G20 priorities, and updates on global and regional financial vulnerabilities.

Key topics included the role of artificial intelligence in the financial sector, with participants sharing regulatory and institutional insights on AI implementation. The group also addressed third-party risk management and its role in reporting operational incidents. The meeting featured contributions from Eddie Yue, Chief Executive of the Hong Kong Monetary Authority and Co-Chair of the RCG Asia.

The RCG MENA membership comprises financial authorities from Saudi Arabia, Algeria, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Tunisia, Türkiye, and the UAE.

Source : www.sama.gov.sa