Saudi Arabia: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics, Monetary and Financial Policy Transparency, Banking Supervision, and Payment Systems

Volume/Issue: Volume 2006 Issue 199

Publication date: June 2006

ISBN: 9781451833508

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Business and Economics , Banks and Banking , Finance , ISCR , CR , banking sector , financial system , SAMA charter , interest rate , SAMA-administered merger , settlement system , SAMA's repurchase , SAMA regulation , Commercial banks , Loans , Capital markets , Payment systems , Global

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Summary

The capacity of the Saudi Arabian banking sector to respond to macroeconomic shocks has been considerably strengthened over the past decade. The Saudi Arabian Monetary Agency (SAMA ) has been actively monitoring some emerging portfolio trends. Comprehensive reforms are under way to deepen financial markets and increase access to financial services. Resolving structural issues remains an obstacle for the market development. SAMA adheres to the Basel Committee’s Core Principles for Effective Banking Supervision, and it makes no differentiation between conventional and Sharia-compliant banking arrangements.