MUSCAT: The 72nd meeting of the Committee of Governors of Monetary Institutions and Central Banks of the Gulf Cooperation Council (GCC) discussed at the headquarters of the Consultative Council of the GCC Supreme Council economic and other related topics.
The meeting, which was hosted by the Sultanate, discussed a number of issues related to supervision and control of the GCC banking system, payment systems and the use of technologies in the financial sector.
The meeting was chaired by Tahir bin Salim al Amri, Executive President of CBO, who said the meeting comes to continue the march of cooperation and integration among GCC countries, pointing out that the importance of such meetings is to provide an opportunity to exchange experiences and expertise and coordination between the monetary authorities in the GCC countries in light of the challenges facing the global and regional economic environment.
He said that with the passage of more than four years of the start of the new oil era, which had effects on the economies of the countries of the region in general, it is important to note the importance of synergy and solidarity to deal with various aspects of financial, economic and monetary, adding that in view of the heavy responsibility of the monetary authorities and the central banks, which are to maintain monetary and financial stability, it is expected during the coming period to continue to adopt regulations and bylaws that will enhance their readiness to deal with developments in the field of financial technology with appropriate controls. — ONA
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