Financial Stability symposium was held in the capital Riyadh today, in the presence of a number of ministers, and the participation of about 300 people, officials and executives in a number of financial sector institutions. The symposium discussed through two sessions the topics of financial sustainability, private sector support and the development of the Saudi financial market.

Minister of Finance, Mr. Muhammad Al-Jadaan opened the symposium with a speech, during which he welcomed the attendees, and reviewed some features of the Saudi economy, indicating that this annual symposium is a discussion and exchange of ideas. This comes within the framework of working on developing the financial sector and achieving the objectives of the sector development program, which is one of the main programs for the Kingdom's 2030 vision.

The first session entitled (Financial Sustainability and Supporting the Private Sector), in which the Minister of Finance, Mr. Muhammad Al-Tuwaijri, Minister of Economy and Planning, and Mr. Abdul Rahman Al-Rashed, Executive Partner of Rashid Abdul-Rahman Al-Rashed and Sons, spoke to it and was moderated by Mr. Talaat Hafez, spokesman for Saudi banks, Secretary-General of the Committee Banking awareness and information in Saudi banks. The session dealt with a number of topics, including financial stability as an essential pillar for sustainable economic growth, and the reforms implemented by the Ministry of Finance to develop public finances and enhance the participation of the private sector and infrastructure development and raise the level of public services and stimulate growth and productivity, in addition to social protection and family support programs to support local demand.

The second session dealt with (the development of the Saudi financial market and the strengthening of stability in the Saudi financial market) was addressed by  Dr. Ahmad Al-Al-Kholifey, Governor of SAMA, Mr. Mohammed Al-Quwaiz, Chairman of the CmA Board, and Dr. Fahad Al Turki, Vice President of Research at King Abdullah Center for Petroleum Studies and Research and Abdullah Al Issa, Chairman of Riyadh Bank, and was managed by Dr. Ihsan Bouhlika. The session touched on the mechanism of central banks adapting their macro prudential framework to markets and economic infrastructure, and the developments of the Saudi financial market and enhancing its stability, as well as assessing the inclusion and listing of Saudi Aramco on the financial sector, and the precautionary policies that are being made to enhance the stability of the financial sector and the challenges and risks arising in the sector.