Minister of Finance, SAMA Governor attend Shura Council session

February 17, 2008

The Shura (Consultative) Council met in Riyadh today to discuss the revaluation of Saudi riyal against the US dollar, rising inflation and a GCC common currency. 


Minister of Finance Ibrahim Al-Assaf and Governor of the Saudi Arabian Monetary Agency (SAMA) Hamad Al-Sayyari also attended the session.

In remarks, Al-Assaf said that SR 10 billion has been earmarked for a public housing program, and highlighted the Kingdom’s successful taxation and retirement systems.

For his part, Al-Sayyari noted that SAMA has granted 10 licenses to Gulf and international banks to operate in Saudi Arabia. 

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