The Saudi Central Bank (SAMA) and the Hong Kong Monetary Authority (HKMA) recently held a bilateral meeting in Riyadh to foster collaboration within the financial services sectors of both jurisdictions. The participating organizations identified four primary areas of focus, including financial infrastructure development, open market operations, market connectivity, and sustainable development.
To solidify their partnership, the SAMA and the HKMA signed a Memorandum of Understanding (MoU), which aims to promote joint discussions on financial innovation. HKMA's Chief Executive, Mr. Eddie Yue, believes that this collaboration offers incredible potential, spanning various areas such as economy, trade, sustainable development, finance, and Fintech.
Through the MoU, both entities seek to enhance cooperation as well as exchange information and expertise in financial innovation and Fintech. This collaboration is expected to promote investment and financial market connectivity between the Middle East and Asia
