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SAMA Governor & ECB President discuss developments in central banking

Saudi Central Bank (SAMA) Governor Ayman Al-Sayari has received European Central Bank (ECB) President Christine Lagarde at SAMA headquarters in Riyadh.

During the meeting, the two sides discussed the recent developments in central banking and the outlook for the global economy.

The European Central Bank is the prime component of the Eurosystem and the European System of Central Banks as well as one of seven institutions of the European Union. It is one of the world’s most important central banks.

Several events were organized on the sidelines of the visit including a high-level panel discussion titled “Interconnectedness and Increasing Capital Flow” with participation from the Governor of SAMA and the President of ECB.

According to the statement, “The panel discussions focused on the macro-financial vulnerabilities and risks stemming from increased interconnectedness; regulatory and supervisory efforts to address the potential for excessive systemic risk arising from the complexity of this growing interconnection; and management of trade-offs between the openness of the financial system while limiting associated risks.”

In addition, a seminar on “Women’s Empowerment within Central Banks” was conducted and featured speeches by SAMA’s governor and the ECB’s president and was moderated by Sheila Alrowaily, a member of SAMA’s board of directors.

The seminar focused on the role of central banks in empowering women in the financial sector, highlighting the power of partnering with stakeholders to advance female leadership across the entire financial sector. The seminar also discussed the measures to ensure fairness and transparency for women in the work environment.