lawrence jenga
December 6, 2024 08:15
The Hong Kong Monetary Authority and the Saudi Central Bank have strengthened financial cooperation through bilateral meetings focused on infrastructure, technology and investment opportunities.
The Hong Kong Monetary Authority (HKMA) and the Saudi Arabian Central Bank (SAMA) have strengthened their financial cooperation efforts following a bilateral meeting held in Hong Kong on December 5, 2024. This important meeting aimed to strengthen relations between the financial sectors of the two regions. , according to the Hong Kong Monetary Authority.
Key areas of cooperation
Discussions between HKMA and SAMA covered a number of important areas, including financial infrastructure development, adoption of supervisory technologies and exploration of global investment opportunities. The meeting also provided a platform for both sides to share economic research experiences with the goal of building a more resilient financial system.
previous participation
This meeting follows the previous meeting held in Riyadh in July 2023 and highlights the two organizations’ ongoing efforts to foster partnerships. The bilateral meeting is part of a broader strategy to strengthen connectivity between Hong Kong and Saudi Arabia, which has been growing in recent years.
leadership statement
“We are delighted to welcome the SAMA delegation to Hong Kong,” said Eddie Yue, CEO of HKMA. In recent years, connections between Hong Kong and Saudi Arabia have been increasing. We look forward to strengthening our partnership with SAMA and continuing our exchanges on areas of mutual interest.”
Likewise, SAMA President Ayman Al-Sayari emphasized the importance of the meeting, saying: Innovation to support a strong and resilient financial system.”
future prospects
The ongoing dialogue between HKMA and SAMA is expected to open new avenues for cooperation, particularly in areas that leverage the strengths of both regions as gateways between the Middle East and Asia. This collaboration is expected to benefit both financial sectors by promoting economic growth and innovation.
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