Banks Union organizes Asian-Gulf Economic Forum in Bangkok

The Kuwait Banks Association announced the organization of the Gulf-Asia Economic Forum: Banking, Investment, and Digital Infrastructure, on October 14 at the United Nations Conference Centre in Bangkok, on the sidelines of the annual meetings of the International Monetary Fund and the World Bank Group.

The forum is organized with the support of the Embassy of the State of Kuwait in the Kingdom of Thailand, in partnership with the Asian Bankers Association, The Business Year Foundation, and the Kuwait Business Council in Dubai and the Northern Emirates. The forum brings together a select group of top government officials, central bank governors, board chairmen, and executive leaders of banking, investment, and technology institutions from the Gulf Cooperation Council (GCC) countries and Asia, with the aim of strengthening economic, financial, and investment ties between the two regions and consolidating mutual cooperation.

The forum features high-level participation, including keynote speeches by: Jasem Al-Budaiwi, Secretary-General of the Gulf Cooperation Council; Dr. Yaqoob Al-Rafai, Minister of Finance; Hamad Al-Marzouq, Chairman of the Board of Directors of the Kuwait Banks Association and Chairman of the Board of Directors of Kuwait Finance House; and Bassel Al-Haroun, Governor of the Central Bank of Kuwait. Additionally, Yusuf Al-Yousef, Chairman of the Board of Directors of the Bahrain Bourse, will participate in one of the forum’s dialogue sessions.

The forum’s work revolves around three main strategic pillars aimed at enhancing financial and investment cooperation between GCC and Asian countries, and transforming shared opportunities into practical partnerships and projects that contribute to supporting sustainable economic growth in both regions.

The first pillar discusses ways to strengthen direct cooperation between Gulf and Asian banks through enhancing cross-border financing, joint loans, conventional financing, and Sharia-compliant financing, alongside developing liquidity management solutions and cooperation in treasury activities, thereby supporting trade and investment flows between the two sides.

The second pillar focuses on cross-border investment and enhancing capital flows, including project and infrastructure financing, investments in credit and private equity, co-investment platforms, and sukuk issuances, contributing to expanding the horizons of investment partnerships between Gulf and Asian institutions.

The third pillar addresses the future of digital infrastructure for financial services and artificial intelligence applications, including enhancing connectivity between cross-border payment systems, digital identity, data governance, cybersecurity, and interoperability among financial systems, supporting the building of a more efficient, innovative, and interconnected financial ecosystem at the regional and international levels.

Prominent banking and investment leaders from the Gulf will participate in the forum’s sessions, including: Khaled Al-Shamlan, CEO of Kuwait Finance House Group; Abdul Latif Al-Saif, Chairman of the Board of Directors of Saudi Investment Bank; Ali Khalil, CEO of Kuwait Financial Centre (Markaz); and Richard Paul, CEO of Beyon Connect, a subsidiary of the Beyon Group in the Kingdom of Bahrain.

From the Asian side, participants include: Suvonpanit Chotcharat Sirivech, President and Director of Bangkok Bank; Wilson Chang Yiming, Managing Director and Head of Global Equities at China International Capital Corporation (CICC); Wajana Wongsubasawat, Managing Director of Kasikorn Asset Management; Jason Tsao, CEO of Huawei’s Digital Financial Business Unit; and Sagit Vijaykumar, CEO of Infosys Finacle.

On this occasion, Jasem Al-Budaiwi, Secretary-General of the Gulf Cooperation Council, stated: “The strategic and historical partnership with Asian countries is a fundamental pillar in the GCC states’ approach to diversifying their economies, enhancing competitiveness, and expanding their economic and investment partnerships internationally. This forum forms an important platform that brings together decision-makers and financial and banking leaders, contributing to translating shared opportunities and potentials into practical and sustainable partnerships in the fields of financing, investment, infrastructure, and technology.”

He added: “Developing sustainable economic and financial corridors between GCC countries and Asian nations requires strengthening institutional coordination, facilitating trade and capital flows, supporting joint investments, and building a more integrated and efficient financial and digital system. This will open new horizons for cooperation, enhance mutual interests, and support paths of development, growth, and shared prosperity for both sides.”

Al-Budaiwi concluded his statement by emphasizing that the GCC’s focus on concluding several free trade agreements with various Asian countries is another indication of this important strategy, which will provide numerous commercial, economic, and investment opportunities for both sides.

For his part, Minister of Finance Dr. Yaqoob Al-Rafai affirmed that holding the Gulf-Asia Economic Forum in Bangkok reflects Kuwait’s commitment to strengthening its economic and financial partnerships with Asian countries and opening new horizons for trade, investment, and capital flows between the two sides. He added that the next phase requires developing innovative financing tools and expanding cooperation in capital markets, sukuk, project financing, and infrastructure, supporting economic diversification and sustainable development plans. He noted that the forum provides an important platform bringing together governments, financial institutions, and investors, contributing to transforming shared opportunities into practical projects and partnerships that achieve mutual interests and support long-term sustainable growth and prosperity for both regions.

Ambassador of the State of Kuwait to the Kingdom of Thailand, Dr. Meshal Al-Mansour, also affirmed that Thailand’s hosting of this international event embodies the pivotal and growing role of Asian countries as a main driver of global economic growth, amid challenges facing the global economy that necessitate enhancing cooperation and integration within the international community.

On the sidelines of the aforementioned meetings, the Gulf-Asia Economic Forum is scheduled to be held on October 14, 2026, in the capital Bangkok, under the patronage of the Kuwaiti Ministry of Finance, the Embassy of the State of Kuwait in the Kingdom of Thailand, and the General Secretariat of the Gulf Cooperation Council. This represents an exceptional opportunity to enhance cooperation and communication between business communities and financial and investment institutions, and to explore new opportunities, particularly in financing, technology, infrastructure, and sustainable investment. We look forward to the forum’s work and outcomes contributing to opening new horizons for economic and investment cooperation between the GCC countries and Asian nations, strengthening existing partnerships, and exploring new opportunities that serve common interests and support the path of development and prosperity between the two sides.

In this context, Hamad Al-Marzouq, Chairman of the Board of Directors of the Kuwait Banks Association and Chairman of the Board of Directors of Kuwait Finance House, affirmed that the holding of the Gulf-Asia Economic Forum in Bangkok reflects the Kuwaiti banking sector’s commitment to enhancing its international presence and expanding its strategic partnerships, contributing to linking the financial and investment capabilities of GCC countries with the promising opportunities offered by Asian markets.

He stated that economic relations between GCC and Asian countries possess strong foundations for growth and expansion, supported by solid trade and investment ties and growing shared interests. We look forward to the forum’s discussions yielding practical initiatives in financing, investment, capital markets, and digital financial services, enhancing economic connectivity and opening new horizons for shared growth and prosperity between the two sides.

Al-Marzouq added that the Kuwaiti banking sector possesses strong qualifications to play a pivotal role in this path, given its financial strength, solid capital base, and advanced expertise in Islamic and conventional financing, as well as its operation within a sophisticated regulatory framework led by the Central Bank of Kuwait, which enhances its position as a trusted partner for Asian financial and investment institutions.

For her part, Sheikha Al-Eissa, Secretary-General of the Kuwait Banks Association, affirmed that the Gulf-Asia Economic Forum embodies the Association’s vision of building sustainable cooperation bridges between financial and investment institutions in GCC countries and Asia, by providing a high-level platform that brings together decision-makers, business leaders, and experts from various related sectors.

She said: “We ensured that the forum represents more than just a meeting for dialogue and idea exchange, but rather a practical platform that enhances direct communication between institutions and allows for exploring cooperation and strategic partnership opportunities. We also ensured that its pillars reflect the current priorities of the financial and investment sector, contributing to supporting economic and financial relations between the Gulf and Asia.”

Al-Eissa clarified that the Association has spent the past months communicating and coordinating with various institutions and official and banking entities in Asian countries to attract quality participation that reflects the economic and financial weight of the two regions, providing valuable opportunities for bilateral meetings and building long-term institutional relationships.

It is worth noting that on the sidelines of the annual meetings of the IMF and World Bank Group, the Kuwait Banks Association will organize a reception for Kuwaiti banks on the evening of Friday, October 16, 2026, at the Capella Bangkok hotel, attended by top officials, banking and investment leaders, and participating delegations, providing additional space to enhance professional relations and explore bilateral cooperation opportunities.