Al-Jadaan calls for integration of Arab financial institutions to confront global economic challenges ...Saudi Arabia

RIYADH —Saudi Minister of Finance Mohammed Al-Jadaan emphasized the vital role of Arab financial institutions in strengthening the foundations of economic and financial stability and driving sustainable development throughout the Arab world. He also underscored the need to move forward in developing financing tools, raising the efficiency of institutional performance, and enhancing the level of integration among various financial institutions to ensure their ability to confront growing economic challenges at both the regional and international levels.Al-Jadaan made the remarks while attending, via video conference, the Joint Annual Meetings of Arab Financial Institutions for 2026 on Tuesday. The meetings witnessed broad participation of governors and representatives of member states, to discuss key economic and financial developments and ways to enhance joint Arab cooperation in development and investment fields. The meetings, which aimed to coordinate efforts in development and investment fields that serve the aspirations of member states, addressed key financial developments and ways to enhance joint Arab action. Al-Jadaan emphasized the crucial importance of implementing governance principles, transparency, improving the efficiency of resource management, linking financing initiatives to direct development impact, and supporting innovation in financial products and expanding access to them in ways that foster economic growth and serve the interests of member states. He stressed the need to link financing initiatives to direct developmental impacts on communities, calling for support for innovation in financial products and expanding their reach to contribute to inclusive economic growth. He also commended the tangible progress achieved by several of these institutions, emphasizing the importance of building upon these gains through intensified coordination and the exchange of technical expertise. The Kingdom's delegation to these meetings included Deputy Minister of Finance Abdulmohsen Al-Khalaf; Assistant Minister of Finance for Macroeconomic Policies and International Relations Eng. Abdullah bin Abdulrahman; Assistant Governor of the Saudi Central Bank for Executive Affairs Abdul Ilah Al-Duhaim; and Undersecretary for International Relations at the Ministry of Finance Khalid Bawazir, in addition to several specialists from the Ministry of Finance and the Saudi Central Bank. The meetings also saw active participation from major Arab financial institutions such as the Arab Fund for Economic and Social Development, the Arab Investment and Export Credit Guarantee Corporation, the Arab Monetary Fund, the Arab Bank for Economic Development in Africa, the Arab Authority for Agricultural Investment and Development, and the Badir Fund.

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Al-Jadaan calls for integration of Arab financial institutions to confront global economic challenges ...Saudi Arabia

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