Sama backs Saudi banks with SR26bn
- Saudi Arabia: Tuesday, March 17 - 2009 at 13:44
In an attempt to enhance stability in the Saudi banking sector in light of the global financial turmoil, the Saudi Arabian Monetary Agency (Sama) pumped a sum of SR26bn into local banks, at a time when banking operations through the Saudi Payments Network (SPAN) increased during January over December of 2008 by over 69,500 to more than 28.7 million operations. Banking operation in the same period increased by 2.4 million operations to more than 45.6 million.
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