Saudi Arabia work to build up a strong financial sector while hosting G20 meetings

Youssef bin Abdullah Al-Banyan

Saudi Arabia’s SABIC vice chairman of the board of directors and the chief executive officer Youssef bin Abdullah Al-Banyan announced that the kingdom will play an efficient role in developing a strong financial sector while hosting the G20 meetings.

“Saudi Arabia is committed to build up a strong financial sector through developing the financial sector program which is considered as one of the most important programs to achieve the kingdom’s 2030 vision,” Al-Banyan told the financial sector press conference held in Riyadh on Thursday.

“We are working to make use of the political process taken by the G20 members until now in the domestic and international levels,”

“Saudi Arabia’s business group already determined the main issues like the growth of funding alongside concentrating on financing the infrastructure,” he added.

The Saudi Arabia’s SABIC vice chairman also confirmed that there is a co-operation work with the business group to introduce strong and affordable recommendations related with the global business issues.

Saudi Arabia started preparations to host the 15th session of the G20 meetings that scheduled to be held on 21 and 22 November 2020.

The G20 is made up of 19 of the world’s biggest economies, as well as the European Union. It formed in 1999 to discuss policy matters and financial stability.

Japan will host this year’s G20 summit in Osaka, which will be held June 28-29, as well as ministerial meetings in eight cities.

In 2018, the conference was held in Buenos Aries, Argentina and focused on the global economy, the future of labor markets and gender equality.