The Financial Stability Board’s Regional Consultative Group for the Middle East and North Africa (RCG MENA) met in Sharm El Sheikh, Egypt, with the session co-chaired by Saudi Arabian Monetary Authority (SAMA) Governor Ayman M. Al-Sayari and Central Bank of Egypt Governor Hassan Abdulla. The meeting provided non-FSB members with an update on the FSB work programme and G20 deliverables and discussed how to incorporate regional perspectives into planned initiatives. Members exchanged views on the latest assessment of global and regional vulnerabilities and reviewed elements affecting global financial stability, including progress on cross-border payments, non-bank financial intermediation and implementation of the FSB’s crypto-asset recommendations. The RCG MENA brings together financial and regulatory authorities from Saudi Arabia, Bahrain, Qatar, the United Arab Emirates, Oman, Kuwait, Egypt, Jordan, Morocco, Lebanon, Algeria, Tunisia and Turkey.
Saudi Arabian Monetary Authority 2025-01-30
Saudi Arabian Monetary Authority Governor co-chairs FSB RCG MENA meeting in Sharm El Sheikh
The Financial Stability Board’s Regional Consultative Group for the Middle East and North Africa, co-chaired by the Saudi Arabian Monetary Authority and the Central Bank of Egypt, convened in Sharm El Sheikh, Egypt. The meeting updated non-FSB members on the FSB work programme and G20 deliverables, incorporating regional perspectives. Discussions covered global and regional vulnerabilities, cross-border payments, non-bank financial intermediation, and implementing FSB’s crypto-asset recommendations.