SAMA Governor says monetary, fiscal stability maintained since 1952

23/09/2021 Argaam

Fahad AlMubarak, Governor of Saudi Central Bank

The Saudi Central Bank (SAMA) continues to maintain monetary and fiscal stability since its inception in 1952, which boosted the Kingdom’s economy, said Governor Fahad Al Mubarak.

 

SAMA participated in the implementation of the Vision 2030 via the Financial Sector Development Program (FSDP). The central bank launched a number of initiatives over the past years, including the instant payment system “SARIE”, in line with the financial inclusion strategy in the Kingdom.

 

Additionally, SAMA launched the open banking policy, which bolstered innovative services, market competition and efficiency. Further, SAMA licensed 12 financial institutions to operate in Saudi Arabia, which underpinned the attractiveness of investment in the Kingdom’s economy.

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