Saudi Arabia to Discuss Global Challenges at G20 Meeting in Brazil
Get ready for some serious financial talk as Saudi Arabia gears up to participate in a meeting of G20 finance ministers and central banks in Brazil this week. From ongoing global challenges to financial sector issues, and the international economic outlook, it’s going to be a jam-packed event.
Key Topics on the Agenda
Finance Minister Mohammed Al-Jadaan will lead the Kingdom’s delegation at the third Finance Ministers and Central Bank Governors meeting in Rio de Janeiro from July 25 to 26. The meeting, under the Brazilian G20 Presidency, will cover topics such as financial inclusion, international taxation cooperation, climate change, financing sustainable development, capital flows, global debt, and reform of Multilateral Development Banks.
Ministry of Finance’s Vision
Aligning with the Ministry of Finance’s goal of doubling the size of the financial sector and boosting gross domestic product growth, the discussions aim to enhance the financial market’s size and establish an inclusive system benefiting most Saudi citizens.
Boosting Financial Sector Development
According to the 2023 Financial Sector Development Program document, the Saudi Capital Market Authority plans to increase assets under management to 29.4 percent of the gross domestic product this year by improving the investment environment and attracting more investors.
Who’s In the Saudi Delegation?
The Saudi delegation includes the Governor of the Saudi Central Bank Ayman Al-Sayari and other senior officials from the Saudi Ministry of Finance and SAMA.
Global Gathering
The meeting will bring together G20 ministers and central bank governors, representatives of invited countries, and heads of global and regional financial organizations for some serious discussions.
Financial Academy’s New Strategy
In other news, the Riyadh-based Financial Academy recently unveiled its new strategy for 2024-2026, focusing on enhancing human capabilities in the sector through training programs and professional certifications. Stay tuned for more developments!