20 economies in recent years, and has supported the global economy through its stabilizing role in the global oil market. The executives hailed the strong economic performance of the kingdom, which is based on strong basics. Positive growth prospects remain positive and risks balanced. They also welcomed the efforts to enhance the efficiency of public spending. The directors agreed that monetary policy and the policy of the precautionary safety position for the time being is appropriate despite a drop in credit growth that the kingdom's economy was not affected by the volatility of global financial markets and that the banking system has a good level of capital and profitability. Standard and Poor's has changed the outlook for Saudi Arabia to ''stable'' from ''positive'' but sovereign rating remained unchanged at (AA-). Although the agency lowered the outlook for Saudi Arabia, it states that real economic growth remains relatively strong. A similar assessment by Fitch credit rating issued last March. The Saudi Arabian Monetary Agency (SAMA) announced the commencement of compulsory and full implementation of the Finance Companies Control Law starting Sunday 16/1/1436H (9/11/2014), after the lapse of the grace period. --More 15:03 LOCAL TIME 12:03 GMT تغريد
