Saudi SAMA Governor handed key G20 role overseeing international financial standards

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RIYADH: The G20's Financial Supervisory Board (FSB) has appointed the Saudi Central Bank Governor Fahd Al-Mubarak as chair of the Standing Committee on Standards Implementation (SCSI), SPA reported.

This came during the FSB's general session virtual meeting on Monday.

The SCSI conducts peer reviews for members of the FSB, encourages global adherence to international financial standards, and reports on the progress made by members in implementing these standards and other agreed commitments of the Group of Twenty (G20) and the FSB.

Two other appointments were also announced during the meeting.

The Governor of the Bank of England (BoE), Andrew Bailey, was appointed as chair of the Standing Committee on Supervisory and Regulatory Cooperation (SRC).

This committee is responsible for addressing the main financial stability risks related to the development of supervisory and regulatory policies.

Chairman of the Federal Deposit Insurance Corporation, Jelena McWilliams, was appointed as the chair of the Resolution Steering Group (ReSG), as of November 1 2021.

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