Saudi Arabian Monetary Authority in partnership with The Capital Market Authority launched the 3rd edition of the financial Stability Seminar in Riyadh, in the presence of Minister of Finance Mr. Mohammad Al-Jadan, Minister of economy and Planning Mr. Mohammad Al-Tuwaijri, SAMA governor Dr. Ahmad Al-kholifey , and Chairman of the Board of Capital Market Authority Mr. Mohammad Al-Quwaiz.
The Minister of Finance started the seminar with an opening speech and it discussed opportunities and challenges, facing the financial system in the kingdom through three axes including the initiatives programs, plans of financial ability, development in the private sector, in addition to the implication of the financial stability and market in light of the stability and development balance, and FSDP. A number of specialists from the international Monetary Fund a number of government parties, semi-governmental entities, banks managers and finance and investment representatives participated in the seminar.
During the first session. All of the Minister of Finance, Minister of Economy and Planning, Governor of SAMA, and the chairman of the Capital Market Authority Board participated in the discussion, which was guided by Dr. Saeed Al Sheikh. The discussion revolved around the importance of financial stability in achieving kingdom 2030 vision and the role of the regulators and financial institutions in ensuring a smooth transformation towards the vision, success and economy growth in light of fiscal balance. The 2nd session focused on discussing Saudi economy development and their impact on the private sector and financial stability, the common challenges faced by the private sector, the role of regulators, interrelationship between the fiscal sectors and the real sector and the role of the Macroeconomic policies during economic cycles. All of Abdulla Al-Zamil from Zamil Industrial Investment Company, Rima Bhatia from Gulf International Bank, Turki Al-Mutairi from the Saudi Arabian Monetary Authority, Dr. Eugenio Cerutti from the International Monetary Fund talked during the 2nd session. The 3rd session discussed the importance of financial securitization and its role in the financial markets, financial derivatives and financial stability: the advantages and potential risks, challenges and opportunities in the securitization market. All of Ganesh Ramani from Goldman Sachs Bank, Sunil Sharma from J.P. Morgan, Abdullah Bin Ghannam from the Capital Market Authority, and Fabrice Susini from the Real Estate Refinance Company talked during the 3rd session.