Sama intervenes to ease liquidity pressure on banks

Riyadh
A view of Riyadh

The Saudi Arabian Monetary Agency (Sama) intervened to support liquidity-constrained banks on September 25 and launched two new monetary facilities.

The Saudi central bank said it injected "more than" 20 billion riyals ($5.3 billion) of liquidity into banks by placing the funds in time deposits on behalf of "government agencies".

It said the policy was aimed at promoting financial stability and offering "monetary support" to the banking sector. It stressed, however, that banks remained well

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