GCC Secretary General: Recommendations of Central Bank Governors Enhance Integration

Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi
Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi
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GCC Secretary General: Recommendations of Central Bank Governors Enhance Integration

Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi
Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi

Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi said Thursday that the outcomes and recommendations of the latest meeting of the Committee of Governors of Central Banks would help enhance financial and economic integration among GCC countries.

His remarks came during the 83rd meeting of the Committee of Governors of Central Banks of the GCC countries held in Doha.

The meeting was chaired by the Governor of the Central Bank of Qatar and current session chairman Shaikh Bandar bin Mohammed bin Saoud Al Thani.

In his statement, Albudaiwi expressed gratitude to Qatari Emir and the President of the Supreme Council in its current session, Sheikh Tamim bin Hamad Al Thani, for Qatar's sincere efforts and diligent work to strengthen the GCC's unity.

He also praised the committee's valuable efforts to enhance cooperation and economic integration among the GCC countries, particularly in the monetary and banking fields. Albudaiwi cited achievements such as the adoption of guiding standards in banking and financial supervision, coordination in combating money laundering and terrorist financing, and the facilitation of financial transactions among GCC countries through advanced technological systems.

Albudaiwi added that the committee's decisions and recommendations on the meeting agenda would promote economic unity among the GCC countries in all monetary matters and drive them forward in this field.



Global Firms to Asharq Al-Awsat: Saudi Arabia Speeds Up AI Progress

Panel discussion at the Global AI Summit in Riyadh, Saudi Arabia (Asharq Al-Awsat)
Panel discussion at the Global AI Summit in Riyadh, Saudi Arabia (Asharq Al-Awsat)
TT

Global Firms to Asharq Al-Awsat: Saudi Arabia Speeds Up AI Progress

Panel discussion at the Global AI Summit in Riyadh, Saudi Arabia (Asharq Al-Awsat)
Panel discussion at the Global AI Summit in Riyadh, Saudi Arabia (Asharq Al-Awsat)

Global tech companies at the third Global AI Summit in Riyadh emphasized Saudi Arabia’s rapid progress in artificial intelligence, noting the Kingdom’s growing leadership in the field.

They highlighted the summit as a key opportunity for businesses to expand their local and international partnerships.

In talks with Asharq Al-Awsat, they described the summit as a major event that shapes the future of AI, helping to address challenges and fully leverage the technology.

The companies also pointed out that AI, closely tied to cloud computing, provides dynamic and complex solutions. They stressed that managing and protecting AI requires top-notch cybersecurity standards.

Abdulrahman bin Mohammed Al-Thehaiban, managing director of Google Cloud for the Middle East, Türkiye and Africa region (META), stressed the importance of AI, which is closely linked to cloud computing and offers innovative, adaptable solutions.

Speaking to Asharq Al-Awsat, Al-Thehaiban highlighted Google Cloud’s role in the event. He emphasized the company’s goal to connect with clients locally and globally, showcasing its AI technology solutions.

Al-Thehaiban said Google Cloud meets all AI needs for businesses and governments, including those related to climate change. He mentioned partnerships with the Saudi Data and Artificial Intelligence Authority (SDAIA) that have trained women in AI.

He added that AI now significantly impacts not just businesses and governments but also individuals, with increasing reliance on the technology.

Al-Thehaiban also noted that while data collection was a major focus six years ago, it is now crucial for implementing AI solutions.

Ahmed Al-Reshoodi, COO of Saudi Cloud Computing Co., told Asharq Al-Awsat that AI needs advanced cloud services and strong data management and cybersecurity.

At the third Global AI Summit in Riyadh, he noted his company’s focus on localizing the latest technologies in Saudi data centers, operated by local talent, supporting Vision 2030 goals.

Al-Reshoodi said the company works with various organizations across the Kingdom, including government, private, financial, and small businesses.

He highlighted that AI is increasingly used in smart cities, financial tech, and healthcare, and emphasized his company’s commitment to meeting Saudi Arabia’s growing cloud service needs.