The 83rd GCC Central Banks Governors Committee meeting was chaired by the State of Qatar in Doha. Governor of Qatar Central Bank (QCB) HE Sheikh Bandar bin Mohammed bin Saoud Al-Thani presided over the meeting with the participation of GCC central bank governors. In his opening speech, HE the QCB Governor praised the leaders of the GCC countries for their wise policies and guidance that have fostered regional stability and growth. He credited these directives for instilling a culture of innovation and initiative within GCC societies, leading to development and prosperity.
Furthermore, His Excellency acknowledged the GCC Secretariat General for facilitating the optimal conditions for committee meetings and commended the preparatory committee members for their productive work. The session addressed current and forthcoming initiatives in the GCC’s strategic plan for the 2023-2027 period, presenting recommendations for further deliberation. HE the QCB Governor emphasized the critical need for collaborative efforts among GCC member states to achieve shared goals and visions, citing remarkable improvements in social and economic indicators as a result of enhanced ties and joint efforts.
HE the QCB Governor highlighted the competitiveness of Arab Gulf state economies on the global stage due to their robust economic infrastructure. He called for sustained efforts to maintain the high standing of the Gulf financial sector while adapting to evolving global economic conditions. The Central Bank Governors Committee was lauded for its role in driving the region’s banking sector through pioneering financial and banking initiatives, legislation enactment, and advancements in financial systems.
Additionally, His Excellency stressed the importance of addressing emerging challenges and risks, particularly in the shift towards a knowledge-based digital economy. The expansion of financial technology requires a strong foundation based on continuous communication, experience sharing, and heightened public awareness. Proactive regulatory and supervisory frameworks are essential to keep pace with changes and ensure ongoing stability. The committee reviewed a range of agenda items, leading to well-considered decisions.
At the end of the meeting, HE QCB Governor Sheikh Bandar bin Mohammed bin Saoud Al-Thani extended his wishes for continued success and achievement for the committee, subcommittees, and working groups. He hoped that their collaborative efforts would significantly benefit the nations and peoples of the region. The meeting emphasized the importance of unity, collaboration, and innovation in driving the GCC’s economic growth and stability in the face of evolving global challenges.
