SAMA: Kingdom not facing a liquidity problem

October 8, 2008


The Saudi Arabian Monetary Agency (SAMA) said yesterday that the Kingdom is not facing a liquidity problem.

 

In a statement broadcast on Saudi TV, Deputy Governor Dr. Mohammed Al-Jasser said that SAMA has the capacity and means to deal with any liquidity issues that might arise and stands ready to provide sufficient liquidity if needed.

Al-Jasser noted that the economy has continued to grow and that deposits have increased by 22 percent in the first eight months of 2008 compared to the previous year. He also stressed that deposits in Saudi banks are safe.

The Saudi central bank continues to monitor the situation closely, he added.