Middle East

Saudi financial sector strong enough to withstand shocks

Saudi Arabia’s financial sector remains sound and resilient to economic shocks, Dr Fahad Al Shathri, Deputy Governor for Supervision at the Saudi Arabia Monetary Authority (Sama), said in Dubai on Wednesday.

Banks constitute the core of the Saudi financial system, with total assets of approximately USd595 billion (Dh2.18 trillion) and they are the key credit providers. The banking sector also enjoys a strong capital ratio of 21 per cent, a sound liquidity coverage ratio (LCR) of 197 per cent and robust net stable funding Ratio (NSFR) of 125 per cent, as at June 2018.

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