His Excellency Mr Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), affirmed that building a robust and sustainable Gulf economy remains contingent upon strengthening joint cooperation and the integration of efforts among Council states. He noted that this path has been adopted by the GCC states as a steadfast approach and an unwavering commitment in all fields, especially within the monetary and banking sectors.
This statement was delivered during His Excellency’s speech at the 86th Meeting of the Committee of Central Bank Governors of the GCC, held today, Monday, February 16, 2026, in the Bahraini capital, Manama. The meeting was chaired by His Excellency Mr Khalid Ebrahim Humaidan, Governor of the Central Bank of Bahrain—President of the current session—and attended by the Governors of the Central Banks of the GCC states.
At the outset of his speech, His Excellency the Secretary General expressed his deepest thanks, appreciation, and gratitude to His Majesty King Hamad bin Isa Al Khalifa, the King of the Kingdom of Bahrain and President of the current session of the GCC Supreme Council, for the Kingdom of Bahrain's hosting of this blessed meeting. He praised the facilities and support provided by the Kingdom to ensure the success of the GCC’s work and the patronage that joint Gulf action receives from His Majesty and Their Majesties and Highnesses, the leaders of the Council states, across all fields.
His Excellency pointed to the rapid transformations in the global economy amidst successive political crises, which have had direct repercussions on the economies of the Council states due to their openness and integration with the global economy.
"This necessitated enhancing the readiness of economic and monetary policies and taking measures to address these variables and mitigate their impacts," His Excellency stated, emphasising that the GCC states have proven their ability to remain resilient and overcome various crises with efficiency and competence.
His Excellency further stressed that the meetings of the GCC Central Bank Governors contribute to achieving greater economic convergence between the Council states and pushing the GCC journey toward broader and more comprehensive horizons.
In a related context, His Excellency Mr Albudaiwi stated that the GCC states hold a firmly established position as a reliable international economic partner, thanks to the robustness of their economies, the stability of their fiscal and monetary policies, and the effectiveness of their institutional frameworks. He reviewed key economic indicators and facts for the Council states according to the latest updates from the GCC Statistical Centre, noting that total deposits reached approximately $2.3 trillion in commercial banks operating in the GCC by the end of 2025, an increase of 10.6% compared to 2024. Additionally, total assets reached over $3.9 trillion in commercial banks by the end of 2025, an increase of 11.9% compared to 2024, while net foreign assets increased in GCC central banks by 10.5% in 2025 compared to the previous year, reaching approximately $842 billion.
His Excellency concluded by noting that these indicators clearly confirm the strength and robustness of the banking and monetary sectors in the Council states, while simultaneously highlighting the vital importance of coordination and integration among the GCC states in this field.
