Day: September 12, 2024

Doha: The State of Qatar chaired the 83rd GCC Central Banks Governors Committee meeting, held in Doha.

HE Governor of Qatar Central Bank (QCB) Sheikh Bandar bin Mohammed bin Saoud Al-Thani, Chairperson of the current session, chaired the meeting with the participation of Their Excellencies the Governors of the GCC central banks.

In his opening address, HE the QCB Governor lauded the impactful role of the astute policies and judicious guidance provided by the leaders of the GCC countries. He emphasized that these directives have been instrumental in fostering regional stability and growth.

In this context, His Excellency said: “The enlightened policies and strategic guidance from Their Majesties and Highnesses, the esteemed leaders of the GCC countries, have been pivotal in maintaining our region’s political, economic, and social stability. These visionary directives have significantly shaped our growth trajectory, instilling a culture of innovation and initiative within our societies. This has empowered us
to spearhead development and elevate the prosperity of the GCC countries.” His Excellency also acknowledged the diligent efforts of the GCC Secretariat General in facilitating the optimal conditions for convening the Central Bank Governors Committee meetings and overseeing the implementation of its resolutions. He commended the preparatory committee members for their productive work during their initial meeting held in Doha in August 2024. This session addressed various crucial issues, including both current and forthcoming initiatives in the GCCs strategic plan for the Central Bank Governors Committee for the 20232027 period. The committee also presented a series of recommendations for further deliberation and decision-making.

In his remarks, HE the QCB Governor underscored the critical need to continue strengthening collaborative efforts among the GCC member states to achieve shared goals and visions. “The enhancement of cooperative ties and joint efforts has had a profound impact on realizing our collecti
ve objectives and visions under the GCC framework. The social and economic indicators across the member states have shown remarkable improvement,” he noted.

His Excellency highlighted that the economies of the Arab Gulf states now stand as competitors on the global stage, owing to their robust economic infrastructure. This infrastructure ensures financial stability, investment security, and attracts foreign capital.

His Excellency called for concerted efforts to sustain the high standing achieved by the Gulf financial sector while adapting to evolving global economic conditions. He lauded the Central Bank Governors Committee’ role in bolstering the Gulf economy.

“As a cornerstone in shaping the economic landscape of the Gulf and a staunch advocate for financial stability, our committee has been instrumental in driving the region’s banking sector. Through the coordination and implementation of numerous pioneering financial and banking initiatives and the enactment of critical legislation, we have significan
tly advanced the financial system. This has transformed Gulf banks into exemplars of innovation and excellence, enhancing their global stature and establishing them as formidable competitors in the international financial arena,” His Excellency said.

Additionally, His Excellency stressed the necessity of efficiently addressing emerging challenges and risks, particularly in light of rapid growth and the shift towards a knowledge-based digital economy. The expansion of financial technology, which supports sector growth, requires a strong foundation based on continuous communication, experience sharing, and heightened public awareness of these challenges. Establishing proactive regulatory and supervisory frameworks is essential to keep pace with changes and ensure ongoing stability.

During the meeting, the committee reviewed a comprehensive range of agenda items, leading to the adoption of well-considered decisions.

At the conclusion of the meeting, HE QCB Governor and Chairperson of the current session of th
e GCC Central Banks Governors Committee Sheikh Bandar bin Mohammed bin Saoud Al-Thani extended his heartfelt wishes for continued success and achievement for the committee’s efforts, as well as the various subcommittees and working groups, hoping that their collaborative efforts would significantly benefit the nations and peoples of the region.

Source: Qatar News Agency

Doha: The State of Qatar chaired the 83rd GCC Central Banks Governors Committee meeting, held in Doha.

HE Governor of Qatar Central Bank (QCB) Sheikh Bandar bin Mohammed bin Saoud Al-Thani, Chairperson of the current session, chaired the meeting with the participation of Their Excellencies the Governors of the GCC central banks.

In his opening address, HE the QCB Governor lauded the impactful role of the astute policies and judicious guidance provided by the leaders of the GCC countries. He emphasized that these directives have been instrumental in fostering regional stability and growth.

In this context, His Excellency said: “The enlightened policies and strategic guidance from Their Majesties and Highnesses, the esteemed leaders of the GCC countries, have been pivotal in maintaining our region’s political, economic, and social stability. These visionary directives have significantly shaped our growth trajectory, instilling a culture of innovation and initiative within our societies. This has empowered us
to spearhead development and elevate the prosperity of the GCC countries.” His Excellency also acknowledged the diligent efforts of the GCC Secretariat General in facilitating the optimal conditions for convening the Central Bank Governors Committee meetings and overseeing the implementation of its resolutions. He commended the preparatory committee members for their productive work during their initial meeting held in Doha in August 2024. This session addressed various crucial issues, including both current and forthcoming initiatives in the GCCs strategic plan for the Central Bank Governors Committee for the 20232027 period. The committee also presented a series of recommendations for further deliberation and decision-making.

In his remarks, HE the QCB Governor underscored the critical need to continue strengthening collaborative efforts among the GCC member states to achieve shared goals and visions. “The enhancement of cooperative ties and joint efforts has had a profound impact on realizing our collecti
ve objectives and visions under the GCC framework. The social and economic indicators across the member states have shown remarkable improvement,” he noted.

His Excellency highlighted that the economies of the Arab Gulf states now stand as competitors on the global stage, owing to their robust economic infrastructure. This infrastructure ensures financial stability, investment security, and attracts foreign capital.

His Excellency called for concerted efforts to sustain the high standing achieved by the Gulf financial sector while adapting to evolving global economic conditions. He lauded the Central Bank Governors Committee’ role in bolstering the Gulf economy.

“As a cornerstone in shaping the economic landscape of the Gulf and a staunch advocate for financial stability, our committee has been instrumental in driving the region’s banking sector. Through the coordination and implementation of numerous pioneering financial and banking initiatives and the enactment of critical legislation, we have significan
tly advanced the financial system. This has transformed Gulf banks into exemplars of innovation and excellence, enhancing their global stature and establishing them as formidable competitors in the international financial arena,” His Excellency said.

Additionally, His Excellency stressed the necessity of efficiently addressing emerging challenges and risks, particularly in light of rapid growth and the shift towards a knowledge-based digital economy. The expansion of financial technology, which supports sector growth, requires a strong foundation based on continuous communication, experience sharing, and heightened public awareness of these challenges. Establishing proactive regulatory and supervisory frameworks is essential to keep pace with changes and ensure ongoing stability.

During the meeting, the committee reviewed a comprehensive range of agenda items, leading to the adoption of well-considered decisions.

At the conclusion of the meeting, HE QCB Governor and Chairperson of the current session of th
e GCC Central Banks Governors Committee Sheikh Bandar bin Mohammed bin Saoud Al-Thani extended his heartfelt wishes for continued success and achievement for the committee’s efforts, as well as the various subcommittees and working groups, hoping that their collaborative efforts would significantly benefit the nations and peoples of the region.

Source: Qatar News Agency

Doha: HE Minister of State for International Cooperation Lolwah bint Rashid Al Khater met today with HE Ambassador of the Republic of Paraguay to the State of Qatar Jose Rafael Aguero Avila.

During the meeting, the two sides reviewed bilateral cooperation relations and ways to support and develop them, and discussed the latest developments in the Gaza Strip and the occupied Palestinian territories.

Source: Qatar News Agency

Doha: The 26th meeting of the Undersecretaries of the GCC Ministries of Justice, began in Doha on Thursday. Represented by HE Undersecretary of the Ministry of Justice, Sultan bin Abdullah Al Suwaidi, the State of Qatar chaired the meeting.

In his opening speech, HE Al Suwaidi welcomed the participating delegations, stressing the importance of the meeting, which embodies the aspirations of the GCC countries to enhance the judicial and legal cooperation. It also embodies the efforts of the Ministries of Justice in the GCC countries to continue the path of joint judicial work between the GCC countries as well as emphasize the consolidation of areas of shared work.

HE The Undersecretary of the Ministry of Justice pointed out that the meeting reviews many draft decisions and guiding laws in various legal fields, in preparation for submitting them to Their Excellencies and Highnesses the Ministers of Justice in their upcoming meeting in Doha, which will achieve more accomplishments in this field, and review many
joint programs and projects that enhance the GCC’s progress in the legal field.

For his part, HE Counselor Sultan bin Nasser Al Suwaidi GCC Assistant Secretary-General for Legislative and Legal Affairs, praised in his speech the great efforts of the Ministry of Justice and its management of the technical meetings during the State of Qatar’s presidency of the work of this session. HE noted the constructive achievements made to enhance the path of joint Gulf action in the judicial field, which enhances the cohesion of the GCC countries in the judicial field.

The meeting discussed a host of topics pertaining to enhancing joint legal and judicial cooperation between the ministries of justice in the GCC, including the project of developing the agreement on the enforcement of sentences, commissions and warrants in the GCC countries. It also discussed inter-GCC agreements on legal and judicial cooperation in civil, commercial, personal status and criminal matters, as well as the draft unified rules for combating d
iscrimination and hate speech for the GCC countries.

The GCC policy on judicial and legal cooperation based on the initiative of the Ministry of Justice and Legal Affairs in the Sultanate of Oman, to enhance judicial integration among the GCC countries was also reviewed at the meeting.

Additionally, reports of the committees of directors and heads of training, judicial and legal centers and institutes in the GCC countries, and officials of the departments of international cooperation and international relations for the year 2024, in preparation for submitting appropriate recommendations regarding them to the meeting of Their Excellencies and Highnesses the Ministers of Justice.

Source: Qatar News Agency