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Saudi Arabian Monetary Agency |
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Saudi Arabian Monetary Agency
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The Saudi
Arabian Monetary Agency (Arabic: مؤسسة النقد العربي السعودي, SAMA), established in 1952, is the central bank of
the Kingdom of Saudi Arabia. Prior to the establishment of the Saudi
Monetary Agency, the Saudi Hollandi Bank, a branch of the Netherlands
Trading Society acted as a de-facto central bank, keeping the Kingdom's gold
reserves and receiving oil revenues on behalf of the Saudi Arabian
government. |
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Like a
Central Bank in any developing country, Saudi Arabian Monetary Agency performs both
the traditional and developmental functions to achieve macro-economic goals.
The functions of the SAMA include issuing the national currency, the Saudi
Riyal, supervising commercial banks, managing foreign exchange reserves,
promoting price and exchange rate stability, and ensuring the growth and
soundness of the financial system, operating a number of cross-bank
electronic financial systems.
SAMA is also
the Kingdom's investment authority. In this role, it is responsible for
managing the country's foreign assets, inside and outside of the Kingdom. |
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Being the Central Bank of the country, Saudi Arabian Monetary Agency has been
entrusted with the responsibility to formulate and conduct monetary and
credit policy in a manner consistent with the Government’s targets for
growth and inflation. The basic objective underlying its functions is two-fold i.e.
the maintenance of monetary stability, thereby leading towards the stability
in the domestic prices, as well as the promotion of economic growth.
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Saudi Arabian Monetary Agency |
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HQ
Address: |
Saudi Arabian Monetary Agency Building
Al Maazar Street
Al Maazar Area
Riyadh 11169
Saudi Arabia |
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Tel: |
+966 1 463 3000 |
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Fax: |
+966 1 466
2966 |
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Website: |
www.sama.gov.sa |
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Email: |
info@sama.gov.sa |
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Currency: |
Saudi
Riyal |
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Banking Hours: Sun - Thur : 9.00am -
3.30pm |
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The Monetary Agency ensures, through the
application of modern management practices and technology, that all its
activities are conducted effectively and efficiently. |
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List of banks regulated by
the Saudi Arabian Monetary Agency |
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Commercial banks |
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» National Commercial Bank |
» Saudi American Bank |
» Bank Al-Jazira |
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» Riyadh Bank |
» Al Bank Al-Saudi Al-Fransi |
» Saudi Investment Bank |
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» Arab National Bank |
» Al Bank Al-Saudi Al-Hollandi |
» Al-Rajihi Banking and
Investment Corporation |
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» Saudi British Bank |
» Saudi Cairo Bank |
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