Saudi Central Bank, Hong Kong Monetary Authority Sign MoU to Strengthen Collaboration

This photo taken on November 10, 2024 shows an aerial view of fish ponds, rivers and marshes in San Tin in northern Hong Kong, on the border with the Chinese city of Shenzhen (back). (Photo by Peter PARKS / AFP)
This photo taken on November 10, 2024 shows an aerial view of fish ponds, rivers and marshes in San Tin in northern Hong Kong, on the border with the Chinese city of Shenzhen (back). (Photo by Peter PARKS / AFP)
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Saudi Central Bank, Hong Kong Monetary Authority Sign MoU to Strengthen Collaboration

This photo taken on November 10, 2024 shows an aerial view of fish ponds, rivers and marshes in San Tin in northern Hong Kong, on the border with the Chinese city of Shenzhen (back). (Photo by Peter PARKS / AFP)
This photo taken on November 10, 2024 shows an aerial view of fish ponds, rivers and marshes in San Tin in northern Hong Kong, on the border with the Chinese city of Shenzhen (back). (Photo by Peter PARKS / AFP)

The Saudi Central Bank (SAMA), headed by Governor Ayman M. Al-Sayari, and the Hong Kong Monetary Authority (HKMA) Governor Eddie Yue have met in Hong Kong to build on their longstanding cooperation and further deepen ties between the two central banks.

In light of the signed MoU between both institutions, Thursday’s meeting featured in-depth discussions and exchange of views and expertise in several areas, including macroeconomic developments and the outlook for monetary policy, the global landscape for investment and financial markets, and financial infrastructure development with a focus on supervisory technology adoption and the deployment of advanced analytical tools.

The two central banks also explored potential areas of cooperation in financial stability, data analyses, financial innovation, and the development of payment systems.

The meeting took place as part of a high-level visit to Hong Kong led by Al-Sayari, during which he participated in the global Financial Stability Board (FSB) plenary meeting and emerging market and developing economies (EMDEs) forum. During the visit, Al-Sayari participated in a high-level seminar alongside other central-bank governors and senior officials from international financial institutions.



Morocco Receives 17.4 Million Tourists in 2024, Up 20% on 2023

FILE PHOTO: People walk outside the Cinema Museum of Ouarzazate, Morocco, October 23, 2024. REUTERS/Stelios Misinas/File Photo
FILE PHOTO: People walk outside the Cinema Museum of Ouarzazate, Morocco, October 23, 2024. REUTERS/Stelios Misinas/File Photo
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Morocco Receives 17.4 Million Tourists in 2024, Up 20% on 2023

FILE PHOTO: People walk outside the Cinema Museum of Ouarzazate, Morocco, October 23, 2024. REUTERS/Stelios Misinas/File Photo
FILE PHOTO: People walk outside the Cinema Museum of Ouarzazate, Morocco, October 23, 2024. REUTERS/Stelios Misinas/File Photo

Morocco received a record 17.4 million tourists in 2024, up 20% compared with previous year, with Moroccans living abroad accounting for nearly half the total, the tourism ministry said on Thursday.
Tourism accounts for about 7% of the North African country's gross domestic product and is a key source of jobs and foreign currency, Reuters reported.
The number of arrivals this year was two years ahead of target, the ministry said in a statement. It expects Morocco to receive 26 million tourists by 2030, when the country co-hosts the World Cup, together with Spain and Portugal.
Morocco has opened additional air routes to key tourist markets, while promoting new destinations within the country and encouraging the renovation of hotels.
From January to November, tourism revenue rose 7.2% to a record 104 billion dirhams, according to Morocco's foreign exchange regulator.