About the company
The Saudi Central Bank (SAMA) is the central bank of the Kingdom of Saudi Arabia. The Saudi Arabian Monetary Authority was established in 1371H (1952G). The bank's objectives are as follows:
1- Maintaining monetary stability.
2- Supporting the stability of the financial sector and enhancing confidence in it.
3- Supporting economic growth.
The tasks of the Saudi Arabian Monetary Authority are those stipulated in the Central Bank Law. Below are some of the tasks and powers to achieve its objectives.
- Issuing the national currency
- Supervision and oversight of financial institutions.
- Issuing regulations and instructions related to financial institutions and their operations.
- Formulating and implementing monetary policy
- Managing foreign exchange reserves
- Acting as a banker and advisor to the government.
- Developing and operating the infrastructure for national payment, settlement, and clearing systems
- Establishing necessary procedures to ensure the protection of financial institution customers.
