The Banking Executive Magazine - September 2023 Issue

Arab Banking Conference 2023 dignitaries hailing from official, eco- nomic, financial, and banking spheres, both within the Kingdom and beyond, encompassing the Arab and foreign domains. In his Speech, Dr. Fattouh extended a warm welcome to the distin- guished audience at the 2023 Arab Banking Conference, which has brought together an elite assembly of decision-makers, industry experts, leaders, and diplomats. He conveyed his gratitude and profound apprecia- tion to the esteemed guests for grac- ing the event with their presence and active participation, conceived by the Union of Arab Banks as a promi- nent tribute to a distinguished lumi- nary in the Arab banking landscape. This luminary is none other than His Excellency, H.E. Mr. Ayman bin Mo- hammed Al-Sayari, the distinguished Governor of the Saudi Arabian Mon- etary Authority (SAMA). UAB Regional Office in KSA H.E. Mr. Ayman bin Mohammed Al- Sayari, Governor, Central Bank of KSA confirmed the establishment of the UAB regional office in Saudi Ara- bia, saying that this strategic initiative was poised to fortify the Union's op- erations and deliver essential serv- ices, particularly in the backdrop of recent economic shifts, global geopolitical transformations, and heightened global uncertainties af- fecting the trajectory of monetary policy. The prevailing circumstances had compelled numerous central banks to implement stringent monetary measures to mitigate escalating infla- tionary trends. Governor Sayari elu- cidated that these measures, in turn, prompted the International Monetary Fund (IMF) to revise its global eco- nomic growth projections downward to three percent for the year 2023. This adjustment coincided with no- table fluctuations in international markets and the mounting chal- lenges confronting emerging economies. H.E. Mr. Ayman bin Mohammed Al- Sayari underscored the imperative for meticulous monitoring and analy- sis of global economic challenges. This approach was essential to effec- tively address their repercussions and foster the evolution of financial and banking systems, incorporating ad- vancements in financial technolo- gies. It was against this dynamic backdrop that the UAB regional of- fice in Saudi Arabia assumed a piv- otal role in contributing to the resilience and adaptability of finan- cial mechanisms within the region. ISSUE 177 SEPTEMBER 2023 the BANKING EXECUTIVE 39