His Excellency Mr Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), highlighted that the banking sector across GCC states has maintained its resilience and stability amidst current conditions, backed by advanced regulatory and supervisory frameworks, strong liquidity levels, and solid capital adequacy.
"This strength has bolstered this sector's ability to navigate global economic shifts while continuing its essential role in driving economic activity and funding development across GCC member states," he added.
His Excellency’s remarks were made during the 87th Meeting of the Committee of Governors of Central Banks in the GCC States, held today, Monday (14 September 2026), in the Bahraini capital, Manama.
The meeting was chaired by His Excellency Mr Khalid Ibrahim Humaidan, Governor of the Central Bank of Bahrain and Chairman of the current session of the Committee of Governors of GCC Central Banks, with the attendance of Their Excellencies the Governors of the GCC Central Banks.
At the outset of his address, His Excellency the GCC Secretary General extended his highest expressions of 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 the 87th meeting, the facilities and continuous support provided to ensure the success of the GCC's work, and the steadfast patronage accorded to joint Gulf action by His Majesty alongside Their Majesties and Highnesses the Leaders of the GCC States across all fields.
"The global economic landscape is undergoing rapid shifts driven by geopolitical and economic developments, accompanied by market volatility and challenges to trade, investment, and supply chains. Given the close integration of GCC economies with the global economy, these shifts underscore the necessity of continuously enhancing readiness to protect economic, financial, and monetary stability," His Excellency noted.
He pointed out that the GCC states have demonstrated their capacity to efficiently navigate various crises through sound economic, financial, and monetary policies, strong institutions, and advanced frameworks for joint coordination.
Furthermore, His Excellency stated that joint Gulf coordination has played a pivotal role in strengthening member states' ability to address emerging challenges, stressing the importance of deepening joint efforts—particularly in the monetary and banking sectors—to reinforce financial stability, enhance banking sector efficiency, and insulate GCC economies against external shocks.
Reviewing key indicators reflecting banking sector resilience and monetary stability in the GCC, His Excellency highlighted that total deposits at commercial banks operating in the GCC reached approximately USD 2.45 trillion by the end of June 2026, representing a 6% growth compared to the end of 2025.
"Total commercial bank assets grew by 3.9% over the same period, surpassing USD 4 trillion. Additionally, net foreign assets held by GCC central banks stood at approximately USD 829 billion by the end of June 2026, providing 11 months of import cover for the GCC. GCC member states also maintained stable inflation levels, with the regional inflation rate standing at approximately 2.1% in May 2026—well below the averages of major global economic blocs," His Excellency indicated.
His Excellency concluded by stressing that these positive indicators reaffirm the fundamental robustness of GCC economies and the success of Gulf economic integration, further bolstering the region's competitive standing regionally and internationally.
