Banks Union Organizes Gulf-Asian Economic Forum

The Kuwait Banks Association announced the organization of the Gulf-Asia Economic Forum: Banking, Investment, and Digital Infrastructure, on October 14, 2026, 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 and 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 distinguished group of senior 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. Its objective is to strengthen economic, financial, and investment ties between the two regions and consolidate mutual cooperation.

The forum features high-level participation, including keynote speeches by Jassem Al-Bouaidi, Secretary-General of the Gulf Cooperation Council, and Dr. Yaqoob Al-Rifaie, Minister of Finance; and Hamad Abdulmohsin Al-Marzouq, Chairman of the Board of Directors of the Kuwait Banks Association and Chairman of the Board of Directors of Kuwait Finance House. The forum also sees the participation of Bassel Al-Haroun, Governor of the Central Bank of Kuwait, and Yusuf Al-Yousef, Chairman of the Board of Directors of the Bahrain Bourse, who will take part 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 the Gulf and Asia, 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 and syndicated loans. The second pillar focuses on cross-border investment and enhancing capital flows, including project and infrastructure financing, and investments in credit and private equity, thereby expanding the horizons for 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, and cybersecurity.

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

From the Asian side, participants include Chartseri Sophonpanich, President and Managing Director of Bangkok Bank; Wilson Chang Yiming, Managing Director and Head of the Global Equities Investment Committee at China International Capital Corporation (CICC); Wachana Wongsubasawat, Managing Director of Kasikorn Asset Management; Jason Tsao, Chief Executive Officer of Huawei’s Digital Financial Business Unit; and Sagit Vijayakumar, Chief Executive Officer of Infosys Finacle.

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

He added: “Developing sustainable economic and financial corridors between the GCC countries and Asian nations requires strengthening institutional coordination, facilitating the movement of 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.”

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

Dr. Yaqoob Al-Rifaie, Minister of Finance, 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: “The coming phase requires developing innovative financing tools and expanding cooperation in capital markets, sukuk, project financing, and infrastructure, in order to support economic diversification plans and sustainable development.”

He pointed out that the forum provides an important platform that brings together governments, financial institutions, and investors, contributing to transforming shared opportunities into practical projects and partnerships that achieve mutual interests and support sustainable long-term growth and prosperity for both regions.

Dr. Meshal Al-Mansour, Ambassador of the State of Kuwait to the Kingdom of Thailand, stated on the occasion of the upcoming World Bank Group and IMF meetings, scheduled from October 12 to 16, 2026, in the capital city of Bangkok in the friendly Kingdom of Thailand, 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 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 the fields of 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, in a manner that serves common interests and supports the path of development and prosperity between the two sides.”

In the same context, Hamad Abdulmohsin 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 holding the Gulf-Asia Economic Forum in Bangkok reflects the Kuwaiti banking sector’s keenness to enhance its international presence and expand its strategic partnerships, thereby linking the financial and investment capabilities of the GCC countries with the promising opportunities offered by Asian markets.

Al-Marzouq said: “Economic relations between the GCC countries and Asia 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 the fields of financing, investment, capital markets, and digital financial services, thereby enhancing economic interconnectivity and opening new horizons for growth and shared prosperity between the two sides.”

He added: “The Kuwaiti banking sector possesses strong qualifications that qualify it to play a pivotal role in this path, given its financial stability, solid capital base, and advanced expertise in both Islamic and conventional financing, as well as its operation within a sophisticated regulatory framework led by the Central Bank of Kuwait. This 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 the GCC countries and Asia, by providing a high-level platform that brings together decision-makers, business leaders, and experts from various relevant sectors.

She said: “We ensured that the forum represents more than just a meeting for dialogue and idea exchange, and that it serves as a practical platform that enhances direct communication between institutions and allows for the exploration of cooperation opportunities and strategic partnerships.”

She explained that the Association has spent the past months communicating and coordinating with a number of institutions and official and banking entities in Asian countries to attract quality participation that reflects the economic and financial weight of the two regions.

Notably, on the sidelines of the annual meetings of the IMF and the World Bank Group, the Kuwait Banks Association will organize a Kuwaiti Banks Reception on the evening of Friday, October 16, 2026, at the Capella Bangkok hotel, attended by senior officials, banking and investment leaders, and participating delegations, providing an additional space to enhance professional relations and explore bilateral cooperation opportunities.