SAMA’s role in the Saudi economy

SAMA was established by the issuance of royal decrees number 30/4/1/1046 and 1047 on April 20 1952, and was officially inaugurated on October 4 1952. SAMA's objectives as set out by its charter include the following:

1. to issue and strengthen the Saudi currency and to stabilise its internal and external value;

2. to deal with the banking affairs of the government; and,

3. to regulate commercial banks and exchange dealers.

Over time SAMA has evolved into a full-fledged central bank, with

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