The governor of the Saudi Arabian Monetary Agency SAMA Hamad bin Saud Al-Sayyari said that there is no change in monetary policy of the Kingdom of Saudi Arabia indicating that stimulate economic growth is a permanent challenge and continuing to rein in inflation, which called for monetary and fiscal policies changed with the changes. He said in a press conference held at SAMA today to shed light on the 44 annual report of the Agency submitted last Monday to the Custodian of the Two Holy Mosques King Abdullah bin Abdul Aziz . / / There are several key challenges facing the Saudi economy, including diversification, and the adequacy of the economy. . But the biggest challenge is the rate of inflation He expected growth to continue this year, pointing out that private sector grew with good rates non-oil exports has grown too, saying that was positive signs of economic growth and said / / There are other challenges related to the situation in the kingdom, including the aspirations of growth, job creation and diversify the economic base / / He pointed out that all of these requirements is of paramount importance. In connection with the liquidity of the domestic banks, Governor of the Saudi Arabian Monetary Agency confirmed that there is no shortage of liquidity in the Saudi banks argued that the growth of lending and provide liquidity to banks may also be measured by assets deposited with the institution. However, some banks may wish to expand and is contrary to our policies to curb the fast growth and thus reduce inflation .. We seek to maintain a reasonable growth of the economy / /. Crises of the global economy on Saudi banks said/ / We are part of the global economy and there is no direct impact is concerned, so Saudi banks are in a good position and the adequacy of their capital high .. On the other hand, SAMA always take precautionary measures to maintain the strength of the Saudi banking system and protect it from exposure to shocks / / He pointed out that these measures were an important factor to maintain financial stability in the Kingdom, thanks to God, / /. as regards to SAMA foreign investments, Al-Sayari said that they managed a very conservative policy at a time in which to maintain adequate levels of liquidity. -- More
