President Al-Zubaidi Emphasizes Expeditiously Completing Financial Reforms and Activating Role of the CB
SMA NEWS – RIYADH
President Aidarous Qassem Al-Zubaidi, President of the Southern Transitional Council (STC) and Deputy Head of the Presidential Leadership Council (PLC) met at his residence in the Saudi capital, Riyadh, on Saturday with Dr. Ahmed Ghaleb Al-Mabaqi, the governor of the Central Bank (CB).
President Al-Zubaidi was briefed by Dr. Al-Mabaqi on the latest developments in the banking and monetary situation and the efforts of the board of directors (BOD) of the bank to complete the financial reforms, activate the role of the CB, and to reform financial, monetary and banking policies to regionally and internationally boost confidence in the CB.
President Al-Zubaidi emphasized the need to expeditely complete the financial reforms, strengthening supervision over banks, developing work mechanisms in the sectors of the bank, adopting principles of governance, good management, modernizing digital and accounting work in the CB, and qualifying its cadres well.
The president directed the Governor of the Bank to strengthen the supervisory role over the exchange companies, in a way that contributes to stabilizing the exchange rate of the national currency, restoring its value, and curbing speculators.
For his part, the Governor of the Bank expressed his thanks to President Al-Zubaidi for supporting the BOD of the CB to perform the assigned tasks, reform the financial, monetary and banking policies, and to follow up the efforts aimed at developing the CB.
