Saudi Arabia's central bank governor Ahmed Al-Kholifey reiterated on Friday that the kingdom was committed to keeping the riyal pegged to the US dollar and that it had "sufficient tools" to support its fixed exchange rate policy.
As many come to terms with the result of the June 23, 2016, British referendum to leave the European Union, many are considering whether there may be a ripple effect as far away as the Middle East.
With clients approaching Hamish
Saudi Arabian Monetary Agency (SAMA) Governor Fahad al-Mubarak said he was committed to maintaining monetary policy to keep the kingdom's decades-long currency peg of SR3.75 per dollar in comments published on the central bank website on Mon
The Qatari riyal's peg to the US dollar has been of great benefit to Qatar's economy, the country's central bank governor Sheikh Abdullah bin Saud al-Thani said in an interview published on the central bank's website on Monday.
Oman remains committed to the peg of its rial currency against the US dollar, the head of the central bank said on Tuesday, after the rial dropped to its lowest level in the forwards market for a decade.
Low oil prices are hurting
Bahrain is committed to keeping its dinar currency's peg to the US dollar, a senior official at the kingdom's central bank said on Monday.
"The peg will remain," Ebtisam Al-Arrayed, head of regulatory policy at t
An Opec market share competition could push oil prices lower, increasing pressure on GCC pegs, but the core GCC USD pegs, including that of Saudi Arabia, are likely to hold at current oil prices, a report said.
The continuing larg
While the annual global issuance of sukuk has grown at a compound annual growth rate of 38 per cent to $81 billion in 2012, up from $3.3 billion in 2002, the market is likely to maintain its positive long-term growth trends, a report said.
A statement on foreign exchange policy by Qatar's central bank governor has struck a nerve in financial markets across the Gulf, reminding investors that decades of currency stability will not last forever.
Bahrain needs to rethink having its currency pegged to the US dollar in order to minimise the risks arising from a slowing American economy, said a top banking expert.
Swiss private bank Bank Sarasin's chief investment officer