The Banking Executive Magazine - December 2025 Issue

PSD 2025 channels be brought under clear and consistent regulatory frameworks – ensuring that innovation strengthens rather than undermines the stability of the financial system. (Recognizing the strategic importance of this issue, the PSD organizers dedicated a spe- cial session of the conference to dig- ital finance and fintech oversight.) Despite the challenges enumerated, Dr. Fattouh’s message was ultimately one of determination and guarded optimism. He noted that the condi- tions for reform, growth, and reinte- gration in the region are now aligning as never before, and that the UAB is assuming a lead role – work- ing hand in hand with local and in- ternational regulators, supervisory authorities, and banks – to develop a strong, integrated Arab banking sec- tor that can operate confidently and competitively on the global stage. He closed by thanking the partners and participants, and reinforcing that through deepened cooperation and unwavering commitment to high standards, the U.S.–MENA partner- ship will continue to drive positive transformation in the years ahead. ISSUE 204 DECEMBER 2025 the BANKING EXECUTIVE 33 ADDITIONAL DISTINGUISHED OPENING AND KEYNOTE ADDRESSES Also delivering opening and keynote remarks were Mr. Sean O’Malley, Managing Director and Head of the Financial Intelligence & Investiga- tions Unit at the Federal Reserve Bank of New York, and Dr. Muham- mad Baasiri, President of the U.S.– MENA PSD initiative, and Mrs. Bana Akkad Azhari, Managing Director at BNY, who emphasized the Dia- logue’s enduring value as a platform for strengthening mutual understand- ing and reinforcing trust between regulators and the banking commu- nity across both regions. Their inter- ventions were complemented by keynote addresses from Mr. Rory Corcoran, Directorate Coordinator at INTERPOL’s Financial Crime and Anti-Corruption Centre, and Ms. San- dra Ro, CEO of the Global Blockchain Business Council and Member of the U.S. CFTC GMAC Digital Asset Markets Subcommittee, who highlighted the importance of international coordination and tech- nological innovation in combating fi- nancial crime and shaping secure, transparent digital finance ecosys- tems.