Saudi Arabia
Sama intervenes to ease liquidity pressure on banks
Saudi central bank makes deposits worth over $5 billion at commercial banks struggling with low liquidity, and introduces new repo facilities
Yemen’s president sacks governor and announces new central bank in Aden
Move may increase humanitarian crisis as former central bank head managed to prevent worst outcome in “dire” circumstances, expert says
Sama gets new governor in Saudi reshuffle
Deputy with experience at central bank and IMF takes over top post from Fahad Almubarak, as Saudi government shakes up major roles
Sama completes payments infrastructure upgrade
Infrastructure overhaul allows faster card payments and higher volumes, supporting the expansion of electronic payments in Saudi Arabia
IMF cuts global growth forecast on back of EM challenges
Maurice Obstfeld says emerging markets and developing economies account for more than two-thirds of revisions; largest changes come in Brazil, where the MPC meets today
Kuwait joins hikers club in wake of Fed rate rise
Kuwait look to strengthen currency after Fed rate rise; UAE and Saudi Arabia, which operate with dollar pegs, also move
Sama publishes first financial stability report
Report indicates Saudi financial system is coping well, despite the 2014 oil price shock and continued geopolitical instability in the region; past year saw ‘significant’ regulatory change
Sama governor calls for subsidy cuts
Fahad Al-Mubarak says the Saudi Arabian economy is being hampered by various inefficiencies, including excessive subsidies on energy and water
Sama’s Almubarak praises resilient banking system
Fahad Almubarak says central bank has helped create a healthy banking system in Saudi Arabia; banks well capitalised and implementing improved security technology
Riyad Bank deputy named Saudi vice-governor
Abdulaziz Saleh Al-Furaih, previously deputy director of Riyad Bank, joined the Saudi Arabian Monetary Agency this week
Gulf statistics centre to promote transparency by working ‘hand-in-hand' with IMF
GCC-Stat, a joint effort by the Gulf states to improve collation of national data, hailed by IMF as an ‘important boost' that will harmonise implementation of international standards
Saudi inflation expected to fall below 3% in 2014
Country's cost of living index peaked at 4% last April before inflationary pressures in the transport and restaurant sectors abated during second half of the year
Saudi vice-governor warns of 'quantum leap' in money laundering
Abdulrahman Al-Hamidy says countries with weak defences may suffer from capital flight and higher levels of inflation
Saudi Arabian Monetary Agency welcomes diversification away from oil
Annual report reveals boost to growth and falling inflation in 2011; welcomes government intent to expand non-oil sector
Saudi Arabia’s Al-Mubarak tackles money laundering
Governor of Saudi Arabian Monetary Agency says preventing money laundering crimes and countering terrorism financing are high priorities for international society
Saudi Arabian reshuffle sees new governor appointed
Muhammad al-Jasser moved to government post; Fahd bin Abdullah al-Mubarak takes over as governor of the Saudi Arabian Monetary Agency
Organisation of Islamic Cooperation agrees to strengthen collaboration efforts
Central bank and monetary authority representatives gather in Kuala Lumpur to discuss place of Islamic finance in changing global financial system; reaffirm commitment to strengthening collaboration
Investors watch Saudi protests with interest
Sentiment in the bond markets has not been unduly affected by MENA tensions, but Saudi unrest could change that.
Sama's Al-Jasser on the role of SMEs
Saudi Arabian Monetary Agency governor Muhammad Al-Jasser points to importance of small and medium enterprises; calls for care and development of sector
IMF: dollar volatility influences Gulf risk premia
Fund study shows US inflation and consumption drive risk premia in Gulf Cooperation Council countries
Gulf markets integrated enough for monetary union
IMF economists’ work indicates stage set for single-currency project
Too early for global exit strategy - Saudi chief
Muhammad Al-Jasser, governor of Saudi Arabia’s central bank, cautions against a rushed withdrawal from expansionary measures
Plans for GCC central bank veer off track
Gulf states have yet to decide on the location of a regional central banking hub almost seven months after they were scheduled to announce the hub's site.