Browse related articlesSaudi raises reserve level
Saudi Arabia: Tuesday, April 08 - 2008 at 14:11
Saudi Arabia has raised bank reserve requirements to 12% from 10% to help curb inflation, reported Reuters. The move was the third of its kind since November. The Saudi Arabian Monetary Agency raised the reserve ratio to 9% from 7% in November and increased it again in January to 10%.'The increase took effect on April 1,' one trader said on condition of anonymity. The reserves move forces banks to keep more money in their vaults, slowing growth in money supply in the world's largest oil exporter.The Saudi Arabian Monetary Agency (SAMA) raised the reserve ratio to 9 percent from 7 percent in November and increased it again in January to 10 percent.Money supply grew at 23.9 percent year-on-year in January, its highest in at least four years, versus annual growth of 19.6 percent in December.
- ADD ARTICLE TO
-
Facebook
del.icio.us
Digg">
Also consider reading:
- » Riyad Bank gets approval for $3.5bn rights offer
- » NBAD to open Hong Kong branch
- » Inma Bank launches $2.8bn IPO
- » Commercialbank gets 40% in UAB
- » Burgan Bank plans foreign acquisitions
- » Islamic Bank of Asia to open in May
- » More Emiratis enter banking sector
- » First Gulf Bank posts record profit
- » Alinma Bank IPO 37% covered
- » Barclays gives additional role to Roger Jenkins
Jeff Florian, Senior ReporterTuesday, April 08 - 2008 at 14:11 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
Disclaimer:
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AME Info Web site does not constitute advice or a recommendation by AME Info FZ LLC / Emap Limited and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AME Info Web site.
AME Info FZ LLC / Emap Limited can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AME Info Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / Emap Limited.
In no event shall AME Info FZ LLC / Emap Limited be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AME Info Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AME Info Web site does not constitute advice or a recommendation by AME Info FZ LLC / Emap Limited and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AME Info Web site.
AME Info FZ LLC / Emap Limited can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AME Info Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / Emap Limited.
In no event shall AME Info FZ LLC / Emap Limited be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AME Info Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
Web Feeds