RIYADH: At a high-level conference, the governor of Saudi Arabia’s top financial institution discussed how the changing global environment offers new chances and difficulties for central bank reserve managers. Ayman Al-Sayari gave a speech at a Riyadh event attended by the Bank for International Settlements, where he discussed the intricacies of today’s macroeconomic climate.
Reserve managers and specialists from Middle Eastern and North African central banks and attendees from other top financial institutions convened for a two-day conference that started on April 28 to talk about the most recent developments in foreign exchange reserve management.
Through panel discussions and keynote presentations, the event provided a forum for attendees to share knowledge, viewpoints, and expertise on the most important aspects of reserve management.
According to SAMA’s monthly statistics bulletin from March, Saudi Arabia’s commercial banks’ foreign assets increased by 22% in February to SR347.63 billion ($92.7 billion) compared to the same month last year. This increase results from the commercial institutions’ foreign assets and investments, which have grown significantly. The central bank also stated that its net foreign assets totaled SR1.55 trillion in February.
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