The banking sector is the main source of risk for financial stability, said financial experts at the opening of the 8th high level meeting for the Middle East and North Africa region.
The conference, organised by the Arab Monetary Fund, the Financial Stability Institute and Basel Committee on Banking Supervision, reviewed a number of policies and initiatives to build a resilient financial system.
Dr. Abdul Rahman Al Hamidi, vice governor at the Saudi Arabian Monetary Agency, said: “Reinforcement of the micro-prudential institutional soundness through effective bank regulations and supervision is of paramount importance. Therefore, supervisors have to adopt the latest techniques and best practices.”
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