Saudi Arabia
Saudis deposit $3 billion to build up Yemeni central bank
Saudis are also training central bank staff, and say US and UK are supporting capacity-building
Saudi and UAE central banks freeze hundreds of bank accounts
Local sources say newly installed crown prince is moving against other senior royals
FSB’s Mena group meets in Abu Dhabi
Turkish and Qatari governors are set to chair the regional group from June 30
IMF paper examines bank lending in Saudi Arabia
Despite low oil prices, credit to the private sector “remained robust”, but an overreliance on banks financing the deficit needs to stop, author says
Sama unveils new banknote designs with updated features
Six denominations to feature new security thread and improved features for the visually impaired; new coin design also launched by Saudi central bank
SAMA governor outlines challenges facing Islamic banking sector
Unified accounting standards would “comfort” regulators and improve transparency for the industry, Alkholifey says; issues need to be addressed in order to foster growth in Islamic banking
Gulf central banks should act to boost liquidity – IMF report
Improved liquidity assistance frameworks, better forecasting and deeper Islamic liquidity markets would help ease conditions
Lagarde welcomes ‘major policy shift’ in Saudi Arabia
IMF managing director says efforts to reduce reliance on oil are “very welcome”, although Gulf countries more generally need to continue their fiscal adjustment
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