Wednesday 25 May 2016
 
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Monetary stability top priority: New Saudi cbank chief

New Saudi Arabian Monetary Authority Governor Ahmed Al-Kholifey said his main priority is to maintain monetary stability and support the government's Vision 2030 economic reforms, Al Sharq Al Awsat newspaper reported on Sunday.

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Planning ‘key to IFRS implementation Saudi’

Lack of proper planning of International Financial Reporting Standards (IFRS) implementation by Saudi companies can derail their compliance with the regulatory requirements, an industry expert said. “As Saudi Arabia moves to

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Saudi cbank raises loan-to-deposit ratio

The Saudi Arabia Central Bank (Sama) recently raised banks’ maximum allowable loan-to deposit (LTD) ratio to 90 per cent from 85 per cent, which will allow banks to continue expanding credit while limiting price competition for deposits.

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Saudi cbank warns banks against riyal speculation

The Saudi Arabian central bank has warned commercial banks against betting on depreciation of the riyal as tumbling oil prices put pressure on the Saudi currency, several bankers operating in the market said. The riyal, pegged in

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Sama chief blames 'unrealistic speculators'

Saudi Arabia's central bank governor said on Monday recent volatility on its currency in the forwards market is due to speculation based on unrealistic expectations. The Saudi riyal hit a record low on January 7, amid renewed

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Saudi debut bond likely to see good response

Saudi Arabia's debut international bond should get a warm welcome from foreign investors if it hits markets in 2016, though fund managers say they will need yields that compensate them for the political and oil price risks. Th

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Saudi international bond likely to get ‘warm welcome’

Saudi Arabia's debut international bond should get a warm welcome from foreign investors if it hits markets in 2016, though fund managers say they will need yields that compensate them for the political and oil price risks. Th

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Sama to appoint KPMG partner as dy governor

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. Sadhan was leaving KPMG at the e

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Saudi cbank to appoint deputy governor

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

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Saudi Arabia 'considers 10pc spending cut'

According to Bloomberg, the Saudi government is conducting a review of capital spending plans with advisors, said an industry expert, adding that the government is looking to delay or shrink some infrastructure projects, and may be contemplating

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