Saudi finance forum plots path to stable growth

Sustainable economic growth topped the agenda at the Financial Stability Forum 2020, organized by the Saudi Arabian Monetary Authority (SAMA) and the Capital Market Authority (CMA).

More than 300 finance executives and officials took part in the forum, which was opened on Wednesday by Saudi Finance Minister Mohammed Al-Jadaan.

The minister later joined representatives from private and government finance sectors in a panel discussion on achieving the objectives of the Financial Sector Development Program, one of the main programs of the Saudi Vision 2030.

The first dialogue session on “Financial sustainability and support of the private sector” included Al-Jadaan, along with the Minister of Economy and Planning Mohammed Al-Tuwaijri and the operational partner at Rashed Abdul Rahman Al-Rashed & Sons Group, Abdul Rahman Al-Rashed.

The session discussed Finance Ministry reforms to promote private sector participation, improve the quality of public services, and stimulate growth and productivity.

A second session, “Developing the Saudi financial market and promoting financial stability,” featured SAMA’s Gov. Ahmed Al-Khulaifi, CMA President Mohammed Al-Quweiz, Vice President of Research at the King Abdullah Petroleum Studies and Research Center Fahad Al-Turki and Riyad Bank Chairman Abdullah Mohammed Al-Issa.

The session focused on precautionary policies to encourage financial sector stability, and address challenges and risks.