Saudi Arabian government bonds held local banks rose by 1.4 per cent to SR 169,677m ($45.2bn) in August, figures contained in the Saudi Arabian Monetary Agency (Sama) monthly statistical bulletin published on 29 September show. This is the smallest increase…
Tag: SAMA
Sama relieves Saudi liquidity squeeze
The Saudi Arabian Monetary Agency (Sama) has announced it is placing about SR20bn ($5.3bn) of time deposits with the local banking system “on behalf of government entities” to relieve upward pressure on domestic interest rates which have almost doubled since…
Sama lifts loan/deposit ratio to counter liquidity squeeze
For full coverage of Middle East banking developments, see MEED The Saudi Arabian Monetary Agency (Sama) has increased the maximum loan-to-deposit ratio for the kingdom’s 12 commercial banks to 90 per cent from 85 per cent to counter evidence of…
IMF calls for Saudi finance, energy and labour market reform
Saudi Arabia should develop a comprehensive macroprudential framework, reduce domestic energy subsidies and promote the employment of nationals, the IMF said in a report published on 15 October. The report follows the publication last month of the IMF’s annual Article…
Saudi government revenue to fall 32 per cent in 2015; spending down 22 per cent
Saudi Arabia’s Finance Ministry announced on 25 December that government revenue is projected to fall by 32 per cent and public spending by 22 per cent in 2015, confirming that Saudi Arabia is anticipating a lengthy period of lower oil…
Saudi Arabia to create separate sovereign wealth fund: Saudi Press Agency
The Saudi Press Agency, the kingdom’s official news agency, reported today that a draft law calling for the creation of a separate sovereign wealth fund will be debated by the consultative Majlis Al-Shoura on 9-10 June. The move represents a…