Sharm El-Sheikh, January 31, 2025 – The Financial Stability Board’s (FSB) Regional Consultative Group for the Middle East and North Africa (MENA) convened in Sharm El-Sheikh, Egypt, for a crucial meeting to review and discuss the region's financial stability agenda. The meeting, held under the joint chairmanship of Ayman bin Mohammed Al-Sayari, Governor of the Saudi Central Bank (SAMA), and Hassan Abdalla, Governor of the Central Bank of Egypt, brought together key financial authorities from across the MENA region. Hosted by the Central Bank of Egypt, the event provided a platform for dialogue on strengthening regional financial systems and contributing to global financial stability.
One of the key items on the agenda was the review of the FSB’s work program for 2025, with a particular focus on integrating the MENA region’s perspectives and priorities into the Board’s planned initiatives. Members engaged in robust discussions on how to align regional financial concerns with global efforts aimed at enhancing financial resilience, risk mitigation, and regulatory frameworks. The conversation also explored recent developments in global and regional markets, including economic trends, emerging risks, and the ongoing outlook for financial stability.
The meeting provided an important opportunity for regional financial authorities to collaborate on strategies to address shared challenges and enhance cooperation. Participants exchanged insights on the latest market trends, including the impact of geopolitical factors, commodity price fluctuations, and the evolving role of digital finance. As the financial landscape in MENA continues to evolve, the dialogue between regional authorities remains crucial to ensuring that financial systems are robust, resilient, and able to withstand potential shocks.
The FSB’s Regional Consultative Group for MENA includes financial regulators and authorities from a diverse range of countries, including Saudi Arabia, Bahrain, Qatar, the United Arab Emirates, Oman, Kuwait, Egypt, Jordan, Morocco, Lebanon, Algeria, Tunisia, and Turkey. This broad representation highlights the importance of fostering regional cooperation, knowledge exchange, and coordinated action to tackle the complex financial challenges of the 21st century.
As the meeting concluded, there was a shared commitment among the participants to continue working together to strengthen the region’s financial infrastructure, promote financial stability, and contribute to the global financial system’s ongoing evolution. The discussions held in Sharm El-Sheikh are expected to play a vital role in shaping the region’s financial regulatory landscape in the years to come, reinforcing the MENA region’s growing influence in the global economic sphere.