Riyadh – Mubasher: Saudi Arabian Monetary Agency (SAMA) decided to inject about SAR 20 billion as time deposits for the banks sector instead of the governmental bodies.

The agency will determine due dates of 7 and 28 days for the repurchasing agreements, besides the one-day due period which is applicable currently, according to statement by SAMA.

SAMA, the Saudi central bank, noted that its decisions come within its policy to support local financial stability.

Default loans did not exceed 1.3% of total loans, while provisions’ coverage reached 165% of total default loans. Capital adequacy reached 18%.