Saudi EXIM Bank Hosts GARP Meeting To Enhance Financial Risk Management Practices

The Saudi EXIM Bank recently organised a meeting with the Global Association of Risk Professionals (GARP) to explore effective strategies for managing financial risks in global operations. This gathering aimed to boost collaboration and share expertise among a select group of experts and decision-makers.

During the event, a dialogue session was held on risk management trends and challenges in Saudi Arabia. Participants included Suhaib Al-Hosainy, Chief Risk Officer at Saudi EXIM Bank; Muadh Alhusaini, Co-Managing Partner at Ehata Financial; Ghanem Al-Ghanem, Head of Investment Advisory at Jadwa Investment; and Shahbaz Syed, Director of Credit Risk at Saudi EXIM Bank.

Suhaib Al-Hosainy highlighted that Saudi Arabia follows a strong risk management policy aligned with current regulatory and professional standards. He stressed that the risk mitigation solutions provided by the Saudi EXIM Bank enhance the risk management capabilities of banks and companies within the Kingdom, especially when dealing with mutual requests.

Al-Hosainy also pointed out the significant progress in Saudi Arabia's debt and capital markets as a key success of the Financial Sector Development Program. He mentioned that issuing sovereign bonds and sukuk, along with expanding the corporate sukuk market, has led to improvements in managing interest rate, credit, and liquidity risks.

Despite these advancements, Al-Hosainy noted an increasing demand for sophisticated tools at institutions to handle evolving risks effectively. This need is particularly pressing as the market becomes more integrated with the global economy.

GARP is recognised globally for promoting education, research, and best practices in risk management to advance the profession. The organisation plays a crucial role in fostering knowledge sharing among professionals worldwide.

The meeting underscored the importance of continuous development in risk management practices to address emerging challenges effectively. By enhancing cooperation and exchanging expertise, participants aim to strengthen financial stability within Saudi Arabia's growing economy.

With inputs from SPA