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Saudi banks enjoy high solvency - Alinma CEO

Saudi banks enjoy high solvency - Alinma CEO
Alinma Bank CEO Abdulmohsen Abdulaziz Al Fares
ALINMA
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Riyadh – Mubasher: The Saudi Arabian Monetary Authority (SAMA) is among the world’s top ten central banks, according to Alinma Bank CEO Abdulmohsen Abdulaziz Al Fares.

Al Fares added in his remarks during the 9th edition of the Riyadh Economic Forum that the Saudi banking sector enjoys a strong position and high solvency due to the new policies applied by SAMA.

SAMA has kept a reasonable financing cost between 3% and 7%, in comparison with the other major economies in the region where interest rates went up to 15-20%.