Saudi Arabian Monetary Authority (SAMA)

Saudi Arabian Monetary Authority (SAMA), the central bank of the Kingdom of Saudi Arabia, was established in 1372H (1952). It has been entrusted with performing many functions pursuant to several laws and regulations. The most important functions are the following:

· To deal with the banking affairs of the Government;
· Minting and printing the national currency (the Saudi Riyal), strengthening the Saudi currency and stabilizing its external and internal value, in addition to strengthening the currency’s cover;
· Managing the Kingdom’s foreign exchange reserves;
· Managing the monetary policy for maintaining the stability of prices and exchange rate;
· Promoting the growth of the financial system and ensuring its soundness;
· Supervising commercial banks and exchange dealers;
· Supervising cooperative insurance companies and the self-employment professions relating to the insurance activity;
· Supervising finance companies;
· Supervising credit information companies.