The Saudi EXIM Bank hosted a meeting for the Global Association of Risk Professionals (GARP) to discuss best practices for managing financial risks in international financial operations.
The meeting focused on enhancing cooperation and exchanging expertise, with a select group of experts and decision-makers in attendance. A dialogue session on trends and challenges in risk management in Saudi Arabia brought together Saudi EXIM Bank Chief Risk Officer Suhaib Al-Hosainy, Ehata Financial Co-Managing Partner Muadh Alhusaini, Jadwa Investment Head of Investment Advisory Ghanem Al-Ghanem, and Saudi EXIM Bank Director of Credit Risk Shahbaz Syed.
During the meeting, Al-Hosainy stated that the Kingdom pursues a robust risk management policy, adhering to the latest regulatory and professional practices. He emphasized that the risk mitigation solutions offered by the Saudi EXIM Bank add value to the risk management toolkit of banks and companies in the Kingdom, particularly in addressing mutual requests.
Al-Hosainy also highlighted the growth and development of Saudi Arabia’s debt and capital markets as a major achievement of the Financial Sector Development Program. He noted that the issuance of sovereign bonds and sukuk, alongside the expansion of the corporate sukuk market, has driven advancements in risk management, particularly concerning interest rate, credit, and liquidity risks. However, he pointed to the increasing need for advanced tools at institutions to effectively manage evolving risks, especially as the market integrates further with the global economy.
GARP is a leading global organization that promotes education, research, and best practices in risk management to advance the profession.
Source: spa.gov.sa