Saudi Central Bank Sama

The Saudi Central Bank (SAMA) is the Central Bank of the Kingdom of Saudi Arabia. SAMA was established in 1371H (1952). The objectives of the Bank are as follows: 1- Maintaining monetary stability. 2- Supporting financial sector stability, and promoting confidence in it. 3- Supporting economic growth. SAMA’s functions are as stipulated in the Central Bank Law. Some of the functions and powers to achieve its objectives are listed below. • Issuing the national currency • Oversighting and supervising financial institutions • Issuing regulations and instructions relevant to financial institutions and their business. • Formulating and conducting monetary policy • Managing FX reserves • Acting as banker and advisor to the government • Developing and operating the infrastructures of national payment, settlement and clearing systems • Establishing procedures to ensure protection of financial institutions’ customers