Local Factors Influence Saudi Arabian Banks, Says New SAMASAMA Governor
Riyadh, Kingdom of Saudi Arabia: Banks in the Kingdom of Saudi Arabia are a shelter in the financial storm that has hit world markets due to the current global economic crisis.
The impact of the global economic crisis on the Kingdom's financial sector will not affect the banks and their liquidity or ability to achieve profit, says the new Governor of the Saudi Arabian Monetary Agency (SAMA)Saudi Arabian Monetary Agency
Al Jasser said in an interview with CNBC Arabiya that the Kingdom's Arab banking sector is unaffected because the vast majority of its investments and transactions are internal. As a result, Saudi banks' dealings hinge upon local rather than external factors.
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