Jassim Al-Badawi: $2.45 trillion in deposits in Gulf banks by end of June
KUNA – The Secretary-General of the Gulf Cooperation Council (GCC) Council of Ministers, Jassem Al-Bedaiwi, stated that the GCC banking sector has maintained its resilience and stability despite current conditions, supported by advanced supervisory and regulatory frameworks, healthy liquidity levels, and adequate capital adequacy. This has strengthened its capacity to keep pace with all economic changes and continue its role in supporting economic activity and financing development in the GCC member states.
Al-Bedaiwi, in a speech during the 87th meeting of the Committee of Central Bank Governors of the Cooperation States, hosted in the Bahraini capital Manama under the chairmanship of Bahrain Central Bank Governor Khalid Humaidan and attended by the central bank governors of the GCC states, noted that the global economic landscape is witnessing rapid transformations amid successive geopolitical and economic developments, accompanied by market volatility and challenges in trade, investment, and supply chains.
He added that due to the close linkage between the GCC economies and the global economy, these changes underscore the importance of continuing to enhance preparedness and the ability to address various challenges, thereby preserving economic, financial, and monetary stability.
Al-Bedaiwi pointed out that GCC coordination has contributed to strengthening the member states’ capacity to handle changes and challenges, confirming the importance of continuing and deepening joint GCC efforts, particularly in monetary and banking sectors, to enhance financial stability, support banking sector efficiency, and consolidate the ability of GCC economies to face changes and external shocks.
He referred to indicators reflecting the resilience of the banking sector and GCC monetary stability, including a 6% increase in total deposits at commercial banks by the end of June 2026 compared to their volume at the end of 2025, reaching $2.45 trillion. Meanwhile, total assets of commercial banks operating in the region exceeded $4 trillion, rising by 3.9%. The net foreign assets held by GCC central banks amounted to approximately $829 billion, covering 11 months of GCC imports.
He noted that GCC states have maintained stable inflation levels despite economic challenges, with the GCC inflation rate reaching 2.1% in May 2026, which is lower than the averages of major economic blocs.
During the meeting, attended by Kuwait Central Bank Governor Bassel Al-Haroun, recommendations of the committees and working groups concerned with payment systems under the plan to activate joint work, as well as supervision and regulation of the GCC banking sector, and technologies in the financial sector of the GCC states, were discussed.
