Doha, March 06, 2024, The Gulf Cooperation Council (GCC) Central Bank Governors' Committee has announced plans to organize an annual international conference on banking and financial business. The inaugural conference is scheduled to take place in Doha in September, to showcase the significant progress achieved by GCC countries in financial and banking services.
The conference aims to discuss the substantial and growing role of GCC central banks in the global financial system. It will also highlight their efforts in financial stability and risk management. The announcement was made during the 82nd meeting of the GCC Central Bank Governors' Committee in Doha.
During the meeting, GCC Secretary-General Jassem Mohammed Al-Budaiwi emphasized the commitment of GCC countries to strengthen cooperation and integration in economic and financial fields. He highlighted the importance of implementing joint decisions and recommendations with precision, emphasizing the ongoing efforts to complete joint economic and development projects.
Citing International Monetary Fund (IMF) reports, Al-Budaiwi noted that GCC countries possess high capacity and flexibility to counter financial fluctuations and challenges, adopting necessary measures to confront and mitigate their repercussions. According to a recent World Bank report, the economic growth rate in the GCC countries is expected to rise to 3.6% in 2024 and 3.8% in 2025, supporting the potential of the GCC to become a new driver for global economic growth.
