Saudi finance forum plots path to stable growth

Saudi Finance Minister Mohammed Al-Jadaan, third from left, opens the Financial Stability Forum 2020 in Riyadh on Wednesday. (SPA)
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Updated 18 January 2020

Saudi finance forum plots path to stable growth

Sustainable economic growth topped the agenda at the Financial Stability Forum 2020, organized by the Saudi Arabian Monetary Authority (SAMA) and the Capital Market Authority (CMA).

More than 300 finance executives and officials took part in the forum, which was opened on Wednesday by Saudi Finance Minister Mohammed Al-Jadaan.

The minister later joined representatives from private and government finance sectors in a panel discussion on achieving the objectives of the Financial Sector Development Program, one of the main programs of the Saudi Vision 2030.

The first dialogue session on “Financial sustainability and support of the private sector” included Al-Jadaan, along with the Minister of Economy and Planning Mohammed Al-Tuwaijri and the operational partner at Rashed Abdul Rahman Al-Rashed & Sons Group, Abdul Rahman Al-Rashed.

The session discussed Finance Ministry reforms to promote private sector participation, improve the quality of public services, and stimulate growth and productivity.

A second session, “Developing the Saudi financial market and promoting financial stability,” featured SAMA’s Gov. Ahmed Al-Khulaifi, CMA President Mohammed Al-Quweiz, Vice President of Research at the King Abdullah Petroleum Studies and Research Center Fahad Al-Turki and Riyad Bank Chairman Abdullah Mohammed Al-Issa.

The session focused on precautionary policies to encourage financial sector stability, and address challenges and risks.


Saudi bridge continues to aid stricken in Lebanon

KSRelief provided urgent food supplies to affected people living in the areas adjacent to the port, covering 500 families. (SPA)
Updated 10 August 2020

Saudi bridge continues to aid stricken in Lebanon

  • So far, 290 tons of aid transported to provide urgent humanitarian needs to people affected by explosion

JEDDAH: Aid continues to flow into the Lebanese capital Beirut, as the fourth Saudi air bridge plane operated by the King Salman Humanitarian Aid and Relief Center (KSRelief) arrived on Sunday.
Ninety tons of emergency aid was flown in on the flight, including medical materials and equipment, foodstuff and shelter supplies. Medicines, burn treatments, medical solutions, masks, gloves, sterilizers and other surgical materials will be distributed by special teams on the ground.
The plane also carried food baskets that included flour and dates as well as shelter materials such as tents, blankets, mattresses, and utensils.
So far, 290 tons of aid has been transported from Saudi Arabia to Lebanon as per the directives of King Salman to provide urgent humanitarian aid to the Lebanese people affected by the explosion at the Port of Beirut.
This aid was provided based on an assessment report of the necessary humanitarian needs resulting from the explosion, in coordination with the Saudi Embassy in Beirut, and the KSRelief branch in Lebanon.
This comes as an extension of the efforts made by Saudi Arabia to show solidarity with the Lebanese people and to provide relief to those affected by the disaster.

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So far, 290 tons of aid has been transported from Saudi Arabia to Lebanon as per the directives of King Salman to provide urgent humanitarian aid to the Lebanese people affected by the explosion at the Port of Beirut.

KSRelief provided urgent food supplies to affected people living in the areas adjacent to the port on Sunday, covering 500 families.
Saudi Ambassador to Lebanon Waleed bin Abdullah Bukhari told Arab News that special committees would oversee and review reports on the Lebanese people’s needs.
“Aid will continue to flow into Lebanon after assessing the required needs of the Lebanese people in cooperation with the relevant authorities in Lebanon,” he said.
Countries around the world have come together to help Lebanon in the wake of the explosion on Aug. 4, which devastated large areas of Beirut, damaging and destroying infrastructure, buildings and homes, including all port facilities and the country’s grain storage silos.