Riyadh – Mubasher: Foreign-currency reserves at the Saudi Arabian Monetary Authority (SAMA) increased by SAR 50 billion in March, the governor of the kingdom’s central bank said.
The Saudi government injected as much as SAR 800 million in Kafalah programme, the Saudi small and medium-sized enterprises (SME) loan guarantee scheme, Al Arabiya reported, citing Ahmed Al Kholifey as saying on the sideline of the Financial Sector Conference (FSC) started on Wednesday, 24 April in Riyadh.
The top official further noted that the Saudi cabinet greenlighted a licence to Credit Suisse to inaugurate a branch in the kingdom.
Al Kholifey told the two-day event that the GCC nation has set the requirements for foreign banks to open branches in the kingdom.
The event is organised by SAMA, the Capital Market Authority (CMA), and the Ministry of Finance (MoF) with the participation of around 2,000 domestic and international business and finance experts.
