Financial and Banking News
SAHA Requires Disclosure of Non-Performing Loans
The Saudi Arabian Monetary Agency (SAMA) last week instructed all banks in the Kingdom to categorize their non-performing loans into those with interest arrears of up to six months, up to one year and over a year. According to local press reports some 25% of the banks' aggregate private sector loan portfolio - SR58.1bn ($16.4bn) in mid-May - is non-performing. Total provisions taken by...