RIYADH: The Central Banking Awards Committee (SBAC) has awarded the
Saudi Arabian Monetary Agency (SAMA) the Best Risk Manager award, at the central banks level for 2018-2019.
"We are pleased to receive requisite approvals and license from the
Saudi Arabian Monetary Agency (SAMA).
Saudi organisations, including the
Saudi Arabian Monetary Agency (Sama) and Public Investment Fund (PIF), had financial assets totalling SR385.3 billion ($102.73 billion) in foreign countries in June 2014, a report said.
Fayez replaces Abdulaziz al-Helaissi, who left JP Morgan in the first half of 2013 to take a position at the
Saudi Arabian Monetary Agency. His move was part of a wider trend in the kingdom to tap senior executives from leading global financial institutions to run key state entities.
Saudi Arabia continues to enjoy solid growth in lending, with the rate reaching 14.7% in May compared with the previous year, data by the
Saudi Arabian Monetary Agency shows.
The
Saudi Arabian Monetary Agency held its overnight reverse repo rate at 0.25 per cent this month, and the benchmark repurchase rate at two per cent, the persons, who declined to be identified, said.
"The precautionary measures by the Ministry of Finance, and
Saudi Arabian Monetary Agency (SAMA), have helped the Kingdom's banking sector in weathering the fallout of economic meltdown," he said.
Summary: AXA Cooperative Insurance Company received its license from the
Saudi Arabian Monetary Agency to practice cooperative insurance activities in KSA.