Saturday 20 October 2018
 
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Sama

Saudi central bank raises key rates

Saudi Arabian Monetary Authority (Sama) has decided to raise its reverse repo rate from 200 basis points to 225 basis points and its repo rate from 250 basis points to 275 basis points, effective immediately.   T

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200 experts for Corporate Restructuring Summit

Over 200 industry leaders from prominent banks and corporates converged at the recently held inaugural edition of the Corporate Restructuring Summit in Dubai, UAE aiming to embracing new perspectives to tackle corporate credit challenges.

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Expat remittances in Saudi Arabia drop 17pc

Foreign remittances by expatriate workers in Saudi Arabia reached SR10.6 billion ($2.82 billion) in June 2018 as against SR12.75 billion in the previous month, marking a decrease of 16.9 per cent, a media report said. Remittances

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Sama, Monami Tech ink strategic partnership

Al Hail Orix Finance, the parent company of Sama, has announced the signature of a formal agreement and the formation of a strategic partnership with UAE-based award winning fintech payments company Monami Tech. The primary aim of

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Sama suspends Willis Saudi Arabia operations

A number of companies, including airlines and aviation firms, in the GCC and Egypt have dissolved agreements with Willis Saudi Arabia following the Saudi Arabian Monetary Authority's (Sama) decision to suspend the firm's insurance and re

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MSCI inclusion to boost investment in Saudi equity

Saudi Arabia’s likely inclusion in MSCI’s Emerging Market (EM) index in June will help the country attract billions of dollars in its equity market, said a new report from Al Rajhi Capital, a top financial services provider in the ki

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IMF raises Saudi economic growth forecast

The International Monetary Fund (IMF) has marginally raised Saudi Arabia’s 2018 economic growth forecast to 1.7 per cent as against the previous 1.6 per cent following the rise in crude oil prices, a report said. This is exp

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Sama, Deloitte to develop fintech ecosystem

The Saudi Arabian Monetary Authority (Sama), in collaboration with Deloitte Middle East, plans to develop a financial technology (FinTech) ecosystem aligned with the Kingdom’s Vision 2030 programme to enhance its economic competitiveness.

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Saudi adopts new Bloomberg bond issuance system

The Saudi Arabian Monetary Authority (Sama) said it has successfully completed the development of Sama bills and Murabahas, one of the most common Islamic financing structures, using Bloomberg's auction system.   

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Saudi key interest rate hikes credit positive: Moody's

The increase in two key interest rates by Saudi Arabian Monetary Authority (Sama), the central bank, are credit positive for Saudi banks because they will prevent Saudi investors’ and depositors’ capital outflows and p

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