Riyadh – Mubasher: Governor of the Saudi Arabian Monetary Authority (SAMA), Ahmed Alkholifey, stated that Saudi banks were not affected by the coronavirus pandemic.

He added during the Euromoney Saudi Arabia Conference 2020 held virtually on Wednesday that the kingdom’s central bank guarantees continuation of pegging the riyal to the US dollar to achieve financial stability.

The governor noted that SAMA, in efforts to gauge the pandemic impacts, cut interest rates, launched a SAR 50 billion package to help small and medium-sized enterprises (SMEs), and supported lenders in their liquidity needs.