Riyadh – Mubasher: Saudi Arabian Monetary Agency (SAMA) lent Saudi local banks about $4 billion to promote liquidity and encourage them to lend.
SAMA has raised the loan rate for banks to 90% from 85% in February, Said Al Shaikh, Chief Economist at the National Commercial Bank (NCB), told Saudi Okaz Newspaper.
“The loans will not have any negative impact on the shareholders but will affect banks’ revenues positively,” Al Sheikh said.
