Saudi Arabia and UAE government bank deposits fall | The National

Saudi Arabia and UAE government bank deposits fall | The National:

"Government bank deposits continued to fall in Saudi Arabia and the UAE last month, as the low oil price hits the balance sheets of lenders in both countries.

In Saudi Arabia, government deposits fell 6.6 per cent in February, from 291bn riyals (Dh284.93bn) in January to 271.8bn riyals in February, according to data from the Saudi Arabian Monetary Authority (Sama), the kingdom’s central bank.

M3, a measure of the money supply, fell for the first time in more than a decade, Sama data also showed."



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