In a significant development for the financial sector of the Gulf Cooperation Council (GCC), Secretary-General Jassem Mohammed Al-Budaiwi has announced that Doha is set to be the venue for the inaugural international conference on banking and finance. This event is scheduled for next September and marks a concerted effort by the GCC to showcase its strides in financial and banking services.
The announcement was made during the 82nd meeting of the GCC Central Bank Governors’ Committee in Doha. The conference will serve as a platform to demonstrate the growing influence of GCC central banks in the global financial markets and their commitment to financial stability and risk management.
Al-Budaiwi emphasized the dedication of the GCC nations to enhance economic and financial cooperation. He highlighted their precision in implementing joint Gulf resolutions and their swift action in executing shared economic and development initiatives.
Backing the optimism around the GCC’s financial health, Al-Budaiwi referenced International Monetary Fund (IMF) reports that commend the GCC’s robust capacity to navigate financial volatilities. Furthermore, he mentioned a World Bank forecast anticipating an upswing in the GCC’s economic growth rate to 3.6% in 2024 and 3.8% in 2025. This projection underscores the GCC’s potential to become a significant driving force in global economic expansion.