Lawrence Jengar
Dec 06, 2024 08:15
The Hong Kong Financial Authority and Saudi Central Storagefacility make stronger monetary cooperation via a bilateral assembly, specializing in infrastructure, era, and funding alternatives.
The Hong Kong Financial Authority (HKMA) and the Saudi Central Storagefacility (SAMA) have intensified their monetary cooperation efforts following a bilateral assembly in Hong Kong on December 5, 2024. This important assembly aimed to reinforce ties between the monetary sectors of the 2 areas, in line with the Hong Kong Monetary Authority.
Focal point Grounds of Cooperation
The discussions between HKMA and SAMA lined a area of important fields, together with monetary infrastructure construction, the adoption of supervisory era, and the exploration of worldwide funding alternatives. The assembly additionally equipped a platform for each events to proportion stories in financial analysis, aiming to manufacture a extra resilient monetary device.
Earlier Engagements
This assembly follows an previous engagement held in Riyadh in July 2023, underscoring the continued loyalty of each entities to foster a collaborative courting. Those bilateral talks are a part of a broader solution to make stronger the connectivity between Hong Kong and Saudi Arabia, which has been at the arise in recent times.
Management Statements
Mr. Eddie Yue, Important Govt of the HKMA, expressed eagerness for the continued collaboration, pointing out, “We are delighted to welcome the SAMA delegation to Hong Kong. Connectivity between Hong Kong and Saudi Arabia has been growing in recent years. We look forward to strengthening our partnership with the SAMA and continuing our exchange in areas of mutual interest.”
In a similar fashion, Mr. Ayman Al-Sayari, Governor of the SAMA, highlighted the virtue of the assembly, noting, “The bilateral meeting reinforced the continuous cooperation between our central banks, highlighting our shared commitment to fostering international collaboration, sharing knowledge, and driving innovation to support a robust and resilient financial system.”
Date Possibilities
The continuing discussion between HKMA and SAMA is anticipated to not hidden unutilized avenues for collaboration, specifically in fields that leverage the strengths of each areas as gateways between the Heart East and Asia. This cooperation is predicted to foster economic expansion and innovation, reaping benefits each monetary sectors.
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