Council news

22 Mar 2023
Gulf Monetary Council held its 59th board meeting

The Gulf Monetary Council (GMCo) held its fifty-ninth meeting for Board of Directors, Tuesday 21 March 2023, corresponding to 29 Sha’ban 1444, in Muscat city, Sultanate of Oman.

His Excellency Ayman Alsayari, Governor of Saudi Central Bank (SAMA), chaired the 59th board meeting, which was attended by their Excellencies the Governors of national central banks in member countries, and in addition to participation of His Excellency GMCo’s president.

During the meeting, the board discussed a number of topics on the agenda and took the appropriate decisions in their regard.

30 Jan 2023
Workshop "Inflation: Challenges and Issues"

The Gulf Monetary Council (GMCo) in cooperation with Qatar Central Bank (QBK) held a virtual workshop on << Inflation: Challenges and Issues>> during 16-17 January 2021. The workshop hosted more than 75 participants from representatives of central banks and ministries of finance in GCC countries and international financial institutions together with GCC institutions. The workshop aimed to discuss the high inflationary pressures build-up in the economy, its reflection on economic policies, views about inflation persistence, and all these between GCC central banks. In addition, get experience of global central banks on this topic especially with surging inflations following economic development.

Participants in the workshop presented number of presentations and working papers on this topic. The presentations focused, in principle, on recent issues in inflation and impact of inflationary pressures on recent prices trend, reflection on monetary and fiscal policy stance, and shed light on role of fixed exchange rates regime to contain inflation. While working papers focused on dynamic response of domestic variables following recent economic policies based on inflation.

Participants took part in presentations are GMCo, Most GCC Central Banks, Ministry of Finance in Saudi Arabia, European Central Bank (ECB), Arab Monetary Fund (AMF) and International Monetary Fund (IMF). This, GMCo is also keen to continue holding meetings and workshops to enhance technical cooperation between national central banks, coordinate monetary policies, and dedicate efforts towards monetary stability in GCC countries.

21 Dec 2022
Gulf Monetary Council held its 58th board meeting

The Gulf Monetary Council (GMCo) held its fifty-eighth meeting for Board of Directors, Today, Tuesday 20 December 2022, corresponding to 26 Jumada al-Awwal 1444, via visual communication.
 
His Excellency Sheikh Bandar bin Mohammed bin Saoud Al Thani, Governor of Qatar Central Bank, chaired the 58th board meeting, which was attended by their Excellencies the Governors of national central banks in member countries, and in addition to participation of His Excellency GMCo’s president.
 
During the meeting, the board discussed a number of topics on the agenda and took the appropriate decisions in their regard.
 

16 Nov 2022
The Gulf Monetary Council warns against impersonate of its name and identity in financial fraud and deceptive practices

The Gulf Monetary Council (GMCo) would like to warn the public of falling victim to any of financial fraud and deceptive practices by responding to suspicious attempts and advertisements that impersonate GMCo’s name and identity or claims its sender to be a member belonging to GMCo, and these carried out by means of various communications technology.

This warning has been issued following detection of a number of fraudulent calls and advertisements by unknown entities and persons during the recent period, which seek to access personal information and deceive individuals by impersonating GMCo’s name and identity or claims its sender to be a member of GMCo. These scams also intends to deceive individuals, recipients of such correspondence, into receiving guaranteed profits or sums of money and request registering their personal information via contacting with phone numbers or accessing phishing hyperlinks that aren’t related at all to GMCo.

GMCo also would like to warn about other fraud schemes, following detection of a number of fake accounts in social media and internet websites during the recent period. These scam accounts by unknown entities and persons attempt to impersonate GMCo’s name and identity or falsely claiming to be employees of GMCo with aim of job scams, commercial marketing purposes, or impersonating others.

In order to protect the public and contribute to efforts of fighting such deceptive practices and cybercrimes, the Gulf Monetary Council thereby urges to obtain the relevant information from official sources and not to respond to these phishing attempts, knowing that the Gulf Monetary Council does not have any account in any social media and internet websites except for one account in Linkedin to announce job vacancies, and in addition to the official website (www.gmco.int). This what needs to be clarified these against financial fraud and deceptive practices.

03 Oct 2022
Gulf Monetary Council held its 57th board meeting

The Gulf Monetary Council (GMCo) held its fifty-seventh meeting for Board of Directors, Today, Monday 3 October 2022, corresponding to 07 Rabi` al-Awwal 1444, in Riyadh City, Kingdom of Saudi Arabia.

His Excellency Sheikh Bandar bin Mohammed bin Saoud Al Thani, Governor of Qatar Central Bank, chaired the 57th board meeting, which was attended by their Excellencies the Governors of national central banks in member countries, and in addition to participation of His Excellency GMCo’s president.

During the meeting, the board discussed a number of topics on the agenda and took the appropriate decisions in their regard.
 

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