The explanatory memorandum stressed that the Government of the State of Kuwait, represented by the Ministry of Finance and the Government of the Kingdom of Saudi Arabia, represented by the Ministry of Finance, based on the agreements and regulations in force within the framework of the Cooperation Council for the Arab States of the Gulf, and based on the principles of mutual trust, equality, partnership and cooperation, and aware of the importance of exchanging experiences and information in the financial field in order for each party to benefit from the expertise of the other, and their desire to strengthen and strengthen relations between them in this field, and in accordance with the regulations, laws and instructions in force in the two countries, and according to the available capabilities, this memorandum was signed.

This MoU aims to strengthen and develop relations between the two parties and increase cooperation between them in the financial field, and to discover new opportunities to strengthen this cooperation, on the basis of mutual benefit between them, in order to serve the common interests of their countries.