Abstract
Sitting at the head of Saudi Arabia’s financial system is the Saudi Arabian Monetary Agency (SAMA). Established by Royal Decree in 1952, it has now completed 58 years of service to the country. It has been an observer and key player in financial matters, and has seen its role expand with the evolution of the Kingdom’s economy and financial system. The history and role of SAMA encapsulates the evolution of Saudi Arabia’s banking and financial structures in the gradual institutionalization of the country’s financial market. How SAMA operates and the tools and policies it adopts will have a great impact on all of Saudi society, not merely on the financial sector. SAMA has come a long way from those early days and proved a capable regulator during the global financial crisis of 2007–2010, ensuring that the Saudi financial sector was not affected by the global contagion and that Saudi banks remained relatively unscathed.
When I had money everyone called me brother.
Polish proverb
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Ramady, M.A. (2010). Saudi Arabian Monetary Agency (SAMA) and Monetary Policy. In: The Saudi Arabian Economy. Springer, Boston, MA. https://doi.org/10.1007/978-1-4419-5987-4_4
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DOI: https://doi.org/10.1007/978-1-4419-5987-4_4
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