The Saudi Central Bank (SAMA) has signed a Memorandum of Understanding (MoU) with the Hong Kong Monetary Authority (HKMA) in order to strengthen collaboration between the two central banks.
The Saudi Central Bank, headed by Governor Ayman M. Al-Sayari, and the Hong Kong Monetary Authority, headed by Governor Eddie Yue, held a bilateral meeting in Hong Kong to build on their longstanding cooperation and further deepen ties.
Following the signing of a Memorandum of Understanding (MoU) between the two institutions, the meeting included detailed discussions and exchanges of views on various topics. These covered macroeconomic trends and the outlook for monetary policy, the global investment and financial market landscape, and the development of financial infrastructure. A key focus was placed on the adoption of supervisory technology and the use of advanced analytical tools.
In addition, the two central banks explored potential areas of cooperation in financial stability, data analyses, financial innovation, and the development of payment systems.
The meeting took place as part of a high-level visit to Hong Kong led by Governor Al-Sayari, during which he participated in the global Financial Stability Board (FSB) plenary meeting and emerging market and developing economies (EMDEs) forum. During the visit, Governor Al-Sayari participated in a high-level seminar alongside other central bank governors and senior officials from international financial institutions.
According to the statement, this engagement highlights SAMA’s ongoing commitment to international collaboration and knowledge sharing, as it continues to strengthen its global relationships and enhance its role in the international financial system.
Earlier this year, SAMA explored bilateral relations with Hong Kong Monetary Authority. During the meeting, the two sides discussed a number of initiatives to strengthen collaboration in several common areas, including financial infrastructure development, open market operations, monetary policy, and Fintech.
