ArabianBusiness.com - Middle East Business News
Monday, 09 November 2009 05:51 UAE time

YOUR DIRECTORY /

Saudi Arabian Monetary Agency (SAMA)

Main Category: Financial Institutions
First Address : PO Box 2992
City : Riyadh
Country : Saudi Arabia
Phone: 966 1 4633000
Fax: 966 1 4662936
Website: www.sama.gov.sa


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ALL STORIES LIST


No Saudi interest rate change in Q3 - central bank

SAMA says rate cut unnecessary to spur lending, held at 2% amid declining inflation.

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Saudi Arabia calls for strict banking regulations

Finance chief also says conservative lending regime needed prior to G20 regulation debate.

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Gulf economies seen recovering faster than others

Central bankers say generous spending amid downturn will help region's rebound.

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Saudi banks profits 6.2% in Jul-Aug - cbank

SAMA data shows cumulative profit of 8.25bn riyals in Q1, 7.92 bn in Q2.

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Saudi central bank says Saad in local debt deal

WRAPUP 1: Banks agree to a 15% haircut on outstanding debts as part of accord.

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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.

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Saudi still hopeful of UAE monetary union involvement

SAMA governor says he has not given up hope of return for both UAE and Oman.

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Saudi M3 money supply grows 16.4% in June

Saudi Arabian Monetary Agency (SAMA) website shows a money supply of 1 trillion riyals ($266.7bn) in June.

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West cautious on Gulf, sovereign funds plug gap

Sovereign wealth funds look to add stimulus to local markets rather than invest overseas.

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Saudi's foreign assets fall for sixth successive month

Rate of decline slows to just over 1%, down to $395bn, according to official data.

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Saudi annual inflation rises for 1st time in 2009

Annual inflation rate up for the first time in seven months to hit 5.5% in May.

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Money on the move

Liquidity is improving in the region, as Gulf economies emerge from the shadow of the cashflow crunch.

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Saudi credit crisis: What to watch out for

Analysts worry Saudi Arabia Monetary Agency's interest cuts won't be enough to restore bank confidence.

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Trustee seeks clarity from Saudi's Saad on $650m sukuk

Citicorp Trustee Co. confirms request to Saad for funds to secure against liabilities.

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Saad woes cloud region - Moody's

Agency says problems at Saudi company will impact how it assesses privately-held firms across Gulf region.

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Private Saudi firm Saad Group to restructure debt

UPDATE 1: News follows freezing of chairman Maan al-Sanea's accounts.

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Saudi foreign assets see further m/m fall

Central bank confirms fall is accelerating as global economic crisis continues to impact markets.

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Liquidity tops $267bn in Saudi on back of monetary measures

Measures by SAMA have allowed banks to continue lending, analysts say.

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Gulf's largest lender posts 8% profit rise Q1, 2009

Better-than-expected profit rise for Al Rajhi Bank came from core activities.

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Arab light crude rose to average of $46 in March

Average price for 2008 was $95 and $67.60 for 2007, shows central bank data.

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Net foreign assets fall sharply for Saudi

Saudi Arabian Monetary Authority's net foreign assets fell 2% between Jan and Feb this year, shows official data.

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Saudi can adjust spending if crisis worsens - minister

Economy performing well but if it falters then budget can be adjusted - finance minister.

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National pension scheme awaits sign off in Saudi

The plan will see all employees having to pay into an insurance scheme.

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Saudi central bank reiterates faith in US dollar

Governor reaffirms kingdom's commitment to greenback as others question its status.

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Saudi non-oil exports growth slows in 2008

Central bank governor says 10% growth last year compared to 22.5% increase during previous year.

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Saudi gov't steps up loan support for struggling companies

Finance minister reveals PIF will give firms five-year grace period on loan repayments.

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Saudi bans promotion of off-plan developments

Kingdom convenes committee to enforce tighter advertising controls in real estate. 

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Saudi can tackle global downturn better – report

BAS-ML research report says oil exporter will run countercyclical policies.

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Growth in money supply falls in Saudi

In January annual growth in money supply fell 13.87%, making it the third monthly drop in a row.

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Saudi money supply growth further eases

Saudi Monetary Agency says money supply growth eases for third straight month. Net foreign assets decline.

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Saudi banks post 17.3% rise in profits for Q4 2008

Banks in the Kingdom buck international trend for losses during the economic downturn.  

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Saudi SAMA sees further drops in inflation in Q1

Kingdom's central bank sees inflationary pressures continuously receding.

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Foreign investment in Saudi firms 'gathers momentum'

Despite global turmoil, foreign investment in Saudi-listed firms on increase, says HSBC.

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Global crisis still in full swing- Saudi central bank head

New head of SAMA feels global economic crisis has not reached end yet; positive on Saudi.

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Saudi king's government shakeup hailed as 'bold'

Gulf kingdom's media & citizens cheer King Abdullah's portfolio rejig as 'boost for reform'.

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Saudi contractors call for gov't cash injection

The sector is warning that projects could be delayed unless it can secure gov't finance.

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High hopes for Saudi licence at Ziraat

High expectations for Saudi Arabia at Turkey's Ziraat Bank ahead of plans to open a branch there.

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Banque Saudi Fransi scales back capital raising

A banking industry slowdown sees Banque Saudi Fransi scale back its capital raising.

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Saudi, UAE cenbanks slash key interest rates

UPDATE 3: UAE central bank cuts benchmark overnight repurchase rate by 50 bps.

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Saudi Nov. money supply growth eases

No increase in M3 measure despite rate cuts and moves to inject funds into banking system.

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Saudi to renegotiate terms on major contracts

Big development projects to go ahead but on reduced-cost basis, says central bank.

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Saudi slashes lending rate

UPDATE 1: Central bank cuts benchmark rate by 100 basis points, second cut in a month to boost liquidity.

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Saudi bank credit growth poised for slowdown

But kingdom's non-oil private sector will grow in '09 on a par with '08, says SAMA's no. 2.

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Saudi inflation falls to 10.9%

Rate eases slightly in August but double digit rise still spurred by 18.5% year-on-year rent increase.

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Saudi govt sees indirect impact from global crisis

Saudi continues to be 'active in the field of int'l cooperation', says finance minister.

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Gulf states talk up markets, play down crisis

Verbal intervention from regulators comes amid fears that 5-year property boom is over.

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Liquidity squeeze starts to bite in KSA

Largest Arab economy beginning to feel strains of credit crunch - cbank data.

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Saudi economy in good shape, says SAMA chief

Kingdom budget surplus reaches 12% of GDP, according to governor's report.

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Saudi inflation to continue to rise - report

General cost of living index rises 10.5% in second quarter of 2008, compared to 2007.

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Saudi cbank sees inflation continuing to rise in Q3

Inflation at 30-year high and still rising but rate of increase will slow, says SAMA.

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Saudi money supply growth eases slightly in June

Total foreign assets rise to 1.41 trillion riyals from 875bn riyals, year-on-year.

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Motorists call for crackdown on insurance delays

Insurance companies in Saudi Arabia suspended after complaints following road accidents.

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Consumers warned of further inflation woes

Inflation in Saudi Arabia will continue to advance in Q2, but at lower pace, central bank says.

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Saudi follows US lead and cuts rates

Reverse repurchase rate cut, but benchmark lending rate steady and reserve requirement raised.

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Saudi money supply surges 26%

Money circulating in economy grows even as kingdom tightens lending curbs to battle inflation.

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KSA’s tourism revenue set to soar

Domestic tourism in Saudi Arabia will record phenomenal growth rates over the next decade, according to a recent report by the Saudi Arabian Monetary Agency (SAMA).

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Saudi wealth fund to focus on domestic investment

Central bank governor says $6bn fund will be run by Public Investment Fund.

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A fistful of dollars

Sovereign wealth funds are coming under increased scrutiny in the West. Diana Milne reports on the backlash and asks whether it will slow their march.

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Soaring money supply fuels Saudi inflation fears

Money supply in kingdom grew 23.9% year-on-year in January, data shows.

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Cut to Saudi benchmark lending rate doubtful

Central bank will not cut repurchase rate in response to further cuts by US, official says.

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Saudi inflation unlikely to fall in 2008

Inflationary pressure due to housing shortages and gov't spending, official says.

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Saudi details first sovereign wealth fund

WEF: Ministry of Finance plans $6bn fund to channel spare cash into shares in foreign firms.

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Saudi cuts key deposit rate

Monetary agency reduces some borrowing costs to relieve pressure on dollar-pegged currency.

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Iran sanctions could hit Germany hard

Tougher measures against Iran could cost the German budget up to $2.97bn, magazine says.

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Saudi considers revaluation

Kingdom could revalue riyal but has no plans to drop dollar peg to track currency basket, source says.

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A sleeping giant

How opportunities in the Gulf's liberalising insurance industry are attracting big international players.

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Saudi king demands inflation answers

Governors have been summoned to explain rising inflation, which hit seven-year high in August.

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Dollar fears as Saudi refuses interest cut

Analysts say collapse of dollar peg is inevitable as Saudi holds back from matching US interest rate cut.

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Impact of credit crisis on Saudi banks limited

Banks have not asked central bank to put more liquidity into markets, says Saudi monetary agency official.

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Saudi inflation no problem, bank says

Central bank says it is not concerned about inflation and sees no reason for more state borrowing.

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Saudi bank segregation not yet confirmed

SAMA denies reports of new rules, but says banks are expected to segregate staff.

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Credit cards drive Gulf consumer debt

Study finds sharp rise in consumer debt across five Gulf countries.

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Saudi Arabia to triple insurance premiums

The Kingdom of Saudi Arabia is planning to nearly triple the volume of insurance premiums to US$5.3bn by the end of 2017, according to Mohamed al-Jasser, the central bank's deputy-governor.

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KSA interest rates may not track US fed

Saudi Arabia's central bank will maintain dollar peg, but may not follow US interest rate cuts.

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Saudi insurance premiums to triple by 2017

KSA central bank's deputy-governor says sector could be worth $5.3bn.

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Saudi inflation down for first time in months

Central bank says inflation has dropped back to below December level.

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Saudi money-supply growth continues decline

Money-supply growth fell for the third consecutive month in March, SAMA says.

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Saudi inflation drops after surge

Central bank says inflation has declined for the first time in several months.

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UAE to keep US dollar peg

Update: The Emirates' central bank is set to maintain its currency pegged to the dollar, ending speculation.

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Jerusalem to star on Saudi banknotes

New notes will feature Muslim sites in the holy city to reflect the kingdom's concern for the Palestinian issue.

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Kuwait won't drop the dollar, says KSA

GCC countries agree 'unanimously' to keep the dollar-pegged exchange rate policy.

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World can withstand weak dollar

Saudi Arabia's central bank vice governor says global economy more robust than in past.

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Saudi inflation is highest in 5 years

Economic growth has driven up prices, leading to a December inflation high of 2.9%.

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Saudi investors head for exit door

About 117,000 investors bailed out of Saudi mutual funds in the six months to September last year as a bourse crash slashed the value of the industry's assets under management by 26.5%, central bank data showed.

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SAMA interest rates step into line with US

Saudi Arabian Monetary Agency raises interest rate to close gap with US.

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Saudi Arabia hikes interest rates

The rise - by 30 basis points TO 5.50% - is the first increase in seven months.

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Saudi investors head for the exit

Almost 120,000 investors bailed out of Saudi mutual funds last year, according to SAMA.

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READER COMMENTS

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    08 Nov ' 09 at 16:32
    Steve you are 100% right. Managers and bosses have no right to use tip money for any other purpose than todistribute it to the staff...   More  »
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    08 Nov ' 09 at 18:31
    The recession may be coming to an end, but my guess is that there is no party in sight, just a depression! The typical line i hear in...   More  »
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    08 Nov ' 09 at 20:55
    I agree with Mr Khalafs comments, yesterday is gone,tomorrow nobody seen, what he is expecting beyound tomorow ,is his positive...   More  »

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