Riyadh, December 6, 2024 – In a significant step towards enhancing international financial cooperation, the Saudi Central Bank (SAMA) and the Hong Kong Monetary Authority (HKMA) held a pivotal bilateral meeting in Hong Kong on December 5, 2024. The meeting, led by SAMA Governor Ayman M. Al-Sayari and HKMA Governor Eddie Yue, aimed to reinforce the long-standing partnership between the two institutions and explore new avenues for collaboration in critical financial sectors.
The discussions, conducted in the spirit of the Memorandum of Understanding (MoU) signed earlier between SAMA and HKMA, encompassed a broad range of topics that are central to global economic stability and financial innovation. Notably, the two central banks exchanged valuable insights on macroeconomic trends, the evolving landscape of monetary policy, and the future trajectory of investment and financial markets. A particular emphasis was placed on the adoption of advanced financial infrastructure, with a focus on the integration of supervisory technology and the development of cutting-edge analytical tools.
In addition to these areas, the meeting highlighted the potential for deeper cooperation in enhancing financial stability, data analysis capabilities, financial innovation, and the modernization of payment systems. These discussions come at a time of rapid global economic transformation, underscoring the importance of international collaboration in adapting to new financial realities.
The meeting was part of a broader high-level visit to Hong Kong led by Governor Al-Sayari. During his visit, he actively participated in the global Financial Stability Board (FSB) plenary meeting, as well as a forum for emerging market and developing economies (EMDEs), where key issues impacting global financial systems were addressed. Governor Al-Sayari also took part in a prestigious seminar alongside central bank governors and senior officials from renowned international financial institutions, further reinforcing SAMA's commitment to fostering international collaboration and knowledge sharing.
This engagement reflects the strategic vision of the Saudi Central Bank, which continues to prioritize strengthening its global partnerships and contributing to the development of more resilient, innovative, and secure financial systems worldwide. The efforts are aligned with Saudi Arabia's broader goals under Vision 2030, enhancing the Kingdom’s standing as a leader in global financial markets.