Manama: Secretary-General of the Gulf Cooperation Council, HE Jasem Mohamed Al-Budaiwi, confirmed that the banking sector in the GCC countries has maintained its strength and stability despite current conditions, supported by advanced regulatory and supervisory frameworks, as well as good levels of liquidity and capital adequacy.
Al-Budaiwi explained during the 87th meeting of the GCC Central Bank Governors Committee in the Bahraini capital, Manama, today, that these capabilities have enhanced the banking sector's ability to keep up with all economic changes on one hand, and continue its role in supporting economic activity and financing development in the GCC countries on the other.
He pointed to several indicators reflecting the strength of the banking sector and monetary stability in the GCC countries, foremost of which is that total deposits with commercial banks operating in the GCC rose by 6% by the end of last June compared to their level at the end of 2025, reaching about 2.45 trillion US dollars.
Al-Budaiwi indicated that the total assets of commercial banks operating in the Gulf Cooperation Council reached more than $4 trillion by the end of last June, an increase of 3.9% compared to the end of the previous year. Meanwhile, the volume of net foreign assets held by the Gulf central banks during the same period amounted to approximately $829 billion, which covers 11 months of the Council's imports.
He pointed out that the Council countries maintained stable inflation levels despite the current economic challenges, with the Gulf inflation rate reaching about 2.1% last May, which is lower than the averages of major economic blocs. He emphasized in this context that these indicators confirm the resilience of the Council countries' economies and the success of the Gulf economic integration process, thereby enhancing their competitive position at both regional and international levels.
The Secretary-General of the Cooperation Council pointed out that the global economic arena is witnessing rapid transformations, amid successive geopolitical and economic developments, accompanied by fluctuations in markets and challenges in trade, investment, and supply chains.
Al-Budaiwi said: "Given the close link between the Council countries' economies and the global economy, these changes underscore the importance of continuing to enhance readiness and the capacity to address various challenges, in a way that preserves economic, financial, and monetary stability."
