Manama: As part of the Kingdom of Bahrain's Presidency of the 46th Session of the Gulf Cooperation Council, the Sixth Meeting of the Preparatory Committee of the GCC Central Bank Governors' Committee was held virtually.
According to Bahrain News Agency, the meeting was chaired by Hesa Abdulla Al Sada, Executive Director of Central Banking Operations and Macro-Prudential Oversight at the Central Bank of Bahrain. The session included participation from representatives of the member states of the Preparatory Committee and Khalid bin Ali Al Sunaidi, Assistant Secretary-General for Economic and Development Affairs at the General Secretariat of the Gulf Cooperation Council.
In her opening remarks, Hesa Abdulla Al Sada emphasized the importance of strengthening joint GCC cooperation aligned with the directives and recommendations of the GCC Central Bank Governors. She highlighted the necessity of sharing expertise and developing effective policies to build stronger and more resilient financial systems.
The Preparatory Committee members reviewed several key issues related to cooperation among GCC member states. This included recommendations by the committees and working groups focused on payment systems, banking sector supervision and oversight, and financial technology across the GCC.
The Committee also addressed mechanisms for sharing cybersecurity information pertinent to the banking sector and examined efforts by GCC member states to combat money laundering and terrorist financing.