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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Saudi Arabia's total bank credit reached a record SAR 3 trillion by January 2025, marking a 15% annual growth and an increase of SAR 348.2 billion from January 2024. Monthly growth was 2%, with credit supporting over 17 economic activities and contributing to the goals of Saudi Vision 2030. Additionally, deposits rose by SAR 40 billion during the same period.
Saudi Arabia's money supply surged by 9% in 2024, reaching SAR 2.92 trillion, driven by a SAR 236.12 billion annual increase. Demand deposits comprised 49.3% of this total, while the growth in liquidity supports the Kingdom's economic expansion and Vision 2030 diversification initiatives.
Saudi Arabia has unveiled a new symbol for the riyal, blending Arabic calligraphy with modern design, aimed at enhancing global recognition and investor confidence. This strategic move aligns with the Kingdom's Vision 2030 economic transformation, signaling a commitment to financial modernization and stability in a volatile global market. The symbol is expected to streamline transactions and bolster the riyal's presence in international trade and digital finance.
Consumer spending in Saudi Arabia surged 34.7% to SR17.5 billion ($4.6 billion) in the week before Ramadan, driven by a 74.9% increase in food and beverage purchases. Notable rises were also seen in public utilities (55.9%), clothing and footwear (43.9%), and telecommunications (42.9%). Riyadh led the spending with a 27.1% increase, while Hail experienced the highest growth at 49.5%.
The Saudi Central Bank has introduced regulations for close-out netting agreements to bolster financial stability among supervised institutions. Effective immediately, these rules facilitate the swift termination and settlement of obligations during defaults, covering various financial contracts, including swaps and Shariah-compliant agreements. Additionally, they clarify liabilities for foreign multibranch entities in local bankruptcy scenarios.
Saudi Central Bank
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Saudi bank lending reaches record three trillion riyals in January 2025
07:33 13.03.2025
Saudi Arabia's money supply grows 9 percent to 2.92 trillion SAR in 2024
07:29 10.03.2025
saudi arabia unveils new riyal symbol to enhance global financial presence
05:17 09.03.2025
Saudi consumer spending rises 35 percent to 4.6 billion ahead of Ramadan
11:13 05.03.2025
Saudi Central Bank introduces close-out netting regulations to enhance financial stability
06:26 26.02.2025
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