Saudi Arabian Monetary Authority (SAMA) governor Ahmed al-Kholifey has stressed there is no need at the moment to intervene in order to ensure liquidity in the kingdom’s economy.
On Saturday, Saudi Arabia’s central bank unveiled a 50-billion riyal ($13.3 billion) package to support private businesses.
In an interview with state-owned Al Arabiya TV, al-Kholifey said SAMA will take further measures to support Saudi’s economy if liquidity is tight or credit is affected, although he added that this was not the case currently.
He said: “The challenges are the coronavirus and the lower oil price globally, but we are monitoring liquidity indicators and monitoring indicators of capital availability at banks.”
He reiterated a stance from the weekend that the indicators were “very good”.
Al-Kholifey also backed the riyal’s peg to the dollar, despite weakening last week as a result of the plunge in oil prices.
Source:https://www.arabianbusiness.com/banking-finance/442947-liquidity-indicators-capital-availability-in-ksa-banks-very-good-says-sama-governor