The Hong Kong Monetary Authority and the Saudi Central Bank signed a memorandum of understanding: key areas include regulatory technology, tokenization, and payment infrastructure, among others

ChainCatcher news, the Hong Kong Monetary Authority held a bilateral meeting with the Saudi Central Bank in Riyadh today to strengthen cooperation in the financial services sector. Saudi Central Bank Governor Ayman Alsayari and HKMA Chief Executive Eddie Yue signed a memorandum of understanding to promote joint discussions on financial innovation. The memorandum will accelerate cooperation in various relevant fintech areas, sharing experiences in research and innovation, with a focus on the latest developments in regulatory technology, tokenization, and payment infrastructure.

HKMA Chief Executive Eddie Yue stated: There is significant room for cooperation between the Kingdom of Saudi Arabia and Hong Kong in areas such as economy and trade, sustainable development, finance, and fintech. In particular, the memorandum will further promote collaboration and the exchange of information and expertise between the Saudi Central Bank and the HKMA in financial innovation and fintech. The HKMA sincerely hopes to work closely with the Saudi Central Bank to enhance connectivity between the Middle East and Asia in investment and financial markets.