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Wed 2 Sep 2009 08:03 PM

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G20 must implement bank supervision measures - Saudi

Central bank governor says there are fears there may be hesitancy in some countries.

The Group of 20 developed countries must stick to banking oversight regulations agreed in the wake of the global financial crisis to avoid a future credit crunch, Saudi Arabia's central bank governor has told the local press agency."There are fears that there might be some hesitancy about having supervision policies among some of the developed countries," Muhammad al-Jasser, governor of the Saudi Arabian Monetary Agency (SAMA), was quoted as saying by the Saudi Press Agency late Tuesday.

"We hope that they rely on the supervision policies that were agreed upon during the summit in London in order to avoid such crises in the future."

Finance ministers and central bankers from the Group of 20 developed and developing economies meet in London this week to assess how far the world economy and banking system is recovering after two years of crisis.  (Reuters)

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