Saudi Arabia's central bank has told banks it is banning the use of options and other derivatives to speculate against the riyal, in a new effort to reduce pressure on its currency peg, a senior executive at a Saudi bank told Reuters on Sund
The Saudi Arabian Monetary Agency (Sama) is set to appoint KPMG Saudi Arabia's managing partner Tareq Al-Sadhan as its new deputy governor for supervision, two sources told Reuters on Thursday.
Al-Sadhan was leaving KPMG at th
Saudi Arabia's central bank will play a bigger role in the supervision of the country's financial sector as the kingdom weighs opening up its stock market to direct investments by foreigners.
The country's Capital Market Author
Saudi Arabia's inflation levels are not worrying and will continue to decline, the country's central bank governor Muhammad Al-Jasser has said.
"Inflation levels are not worrying. Inflation has become stable since the be
Gulf states plan to launch their monetary council next year but the proposed single currency may be delayed, the Saudi central bank chief has said.
'The (Gulf) monetary council will be established in 2010. It will be entrusted to compl
Rents in Saudi Arabia are expected to decline further as more housing supply enters the market, the central bank governor said on Tuesday.
Speaking at a news conference, Muhammad al-Jasser said rents would decline due to the 'vigorous
Saudi Arabia's King Abdullah has appointed Abdulrahman Al-Humaidi as deputy governor of the kingdom's central bank, the official news agency SPA reported on Sunday.
The appointment should not lead to any policy changes at the centr
Saudi Arabia's central bank said it reduced on Tuesday the reverse repurchase rate by 25 basis points to 0.50 percent to realign it with short-term rates after inflationary pressures eased.
"This measure has been taken in view of the easin