Financial and Banking News
SAMA Acts to Restrict Lending for Local Share Purchases
The Saudi Arabia Monetary Agency (SAMA, the central bank) has asked localbanks to restrict loans for share purchases to no more than 50% of the value ofthe shares which the customer wants to buy. In the past customers have been ableto borrow nearly all the money needed for share purchases from the bank. SAMAmade its request to local banks on 13 December. The volume...