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Saudi Central BankSaudi Central BankNewsUnder the Sponsorship of the Custodian of the Two Holy Mosques.. The Kingdom hosts the 46th meeting of the Council of Governors of Arab Central Banks and Monetary Authorities
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Under the Sponsorship of the Custodian of the Two Holy Mosques.. The Kingdom hosts the 46th meeting of the Council of Governors of Arab Central Banks and Monetary Authorities
9/14/2022 10:15 AM


Under the generous sponsorship of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al-Saud, the Kingdom, represented by the Saudi Central Bank (SAMA), will be hosting the 46th regular meeting of the Council of Governors of Arab Central Banks and Monetary Authorities in Jeddah between the 18th and 19th of September. The meeting will be accompanied by a high-level round table workshop dealing with the topic of "Central Bank Digital Currencies and the Future of the Economic System". Senior International Monetary Fund (IMF) and Financial Stability Board (FSB) officials will be attending the meeting, as well as many international institution and central bank experts.

On this occasion, the governor of the Saudi Central Bank Dr. Fahad Almubarak expressed his gratitude for royal king's generous sponsorship of the event which demonstrates the wise leadership's interest and keenness in supporting and ensuring the success of joint Arab action, stressing the importance of such meetings in light of the most recent changes and developments that economic and financial sectors are experiencing all over the globe.

Almubarak also showed appreciation for the efforts being made by the Council of Governors of Arab Central Banks and Monetary Authorities whose work is carried out by the Arab Monetary Fund, be it in following up on the most recent financial and economic developments and trends, making preparations for the meeting of the Board, or in following up on the work status of Council committees and emanating work groups.

As for the meeting's agenda, Their Excellencies the Governors of Arab Central Banks and Monetary Authorities will be discussing a number of key subjects, the most important of which are:
 - The global inflationary wave and its repercussions on monetary policies in Arab countries.
- The risks and repercussions of climate change on banking services and the financial sector, and challenges hamper the shift towards green finance.
- The requirements and challenges of rebuilding banking sector capital and liquidity margins after support packages are lifted.

The agenda of the meeting will also include:
- Cluing in Governors of Arab Central Banks and Monetary Authorities on the work status reports of Council committees and emanating work groups.
- Reviewing the fifth edition of the Arab Financial Stability Report 2022, and the Unified Arab Economic Report 2022.
- Giving a Briefing about the Unified Arab Discourse for 2022.

It's worth noting that the Unified Arab Discourse will be presented by the Arab Group at the annual IMF and World Bank meetings next October, and it will reflect the views of Arab countries towards current economic trends and developments.

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