Wednesday, 7 Dec 2022

Saudi Central Bank Hosts First In-Person Meeting Since Covid-19 Pandemic of Standing Committee on Standards Implementation of Financial Stability Board

Riyadh– On Wednesday 5th of October, 2022, the Saudi Central Bank (SAMA) hosted the Financial Stability Board’s (FSB) Standing Committee on Standards Implementation (SCSI). The Committee is currently chaired by His Excellency Fahad Almubarak, Governor of the Saudi Central Bank.

This is the first in-person meeting of the committee after a long series of virtual meetings due to COVID-19 restrictions. Almubarak welcomed the members of the

Standing Committee.

The Committee members’ discussions covered various topics including: COVID-19 monitoring, monitoring of non-bank financial intermediation (NBFI) reforms, the

draft FSB annual report to the G20, and the creation of a new group to support analysis of the effectiveness of reforms.

The agenda also included discussion of follow-up to the FSB’s Thematic Peer Reviews (Bank Resolution Planning and Legal Entity Identifier (LEI) implementation),

as well as potential future reviews.

The meeting finally concluded with a discussion of the Committee’s 2023 work plan.

Following the meeting, SAMA invited Committee members to a cultural event at the Diriyah Gate Project.

 

Source: Saudi Press Agency

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