Middle East Economic Survey

VOL. LII

No 19

11-May-2009

SAUDI ARABIA

Saudi Banking System Will Face Funding Challenges, NBC Warns

While Saudi Arabias inflation reached a record of 11.1% year-on-year (y-o-y) in July 2008, the Saudi economy in general and the monetary system in specific had been well sheltered from the onslaught that ensued on a global scale, according to the Monetary Developments and Rising Funding Challenges report published by the National Commercial Bank (NCB).The causes of...