Thursday 24 May 2018
 
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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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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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Saudi Arabia’s credit to private sector edges up

Saudi Arabia’s credit to the private sector rose on a monthly basis for the first time in five months in January 2018 reflecting a 0.2 per cent increase month-on-month (m-o-m), said Al Rajhi Capital, a top financial services provider.

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Saudi central bank, Ripple in key blockchain deal

Saudi Arabian Monetary Authority (Sama), the country's central bank has inked a deal with US-based Ripple, a key provider of real-time gross settlement system and currency exchange, to help banks boost their payments infrastructure using its

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Saudi banks’ liquidity improves in 2017: Moody’s

According to a recent Sama bulletin, Saudi banks’ domestic liquid assets ended 2017 at a record high SR457 billion ($122 billion), despite subdued deposit growth and challenging business conditions, which Moody’s said was a credit po

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IMF raises Saudi economic growth forecasts

The IMF in its World Economic Outlook report has raised Saudi Arabia’s 2018 and 2019’s growth forecasts to 1.6 per cent and 2.2 per cent respectively (50bps and 60bps higher than the previous estimates), owing to the recent rally in

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Saudi 2018 budget backing non-oil sector: NBK

Saudi Arabia’s SR978 billion ($260 billion) budget for 2018 is sends a strong signal that the government is serious about supporting the economy, especially the non-oil sector, and pursuing its Vision 2030 objectives, said the National Ban

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