Saudi Central Bank (Sama)
Technology services: SAP
The software company pulled off a high-stakes ‘big-bang’ launch of a new core banking system for the Saudi Central Bank
Central banks follow Fed with rate hikes
Several central banks have raised their policy rates in response to the Federal Reserve hike
Covid and the cloud: a turning point for central banks?
As central banks embrace new technology, providers are jostling to be first in line
Central Banking FinTech & RegTech Global Awards 2021
In March 2021, Central Banking launched its fourth annual FinTech & RegTech Global Awards to showcase some of the groundbreaking projects undertaken in the community. The results are revealed in the awards articles published in this special winners’…
The winners of the 2021 FinTech RegTech Global Awards
Fourth annual tech awards recognise excellence among central banks and the firms they work with
Initiative of the year: Saudi Central Bank’s business continuity programme
Advanced planning has allowed Sama employees and systems to continue operating critical functions despite the Covid-19 lockdowns
Saudi Arabia to launch instant payment system in days
New system will go live following successful pilot with Saudi banks – Sama
New governor appointed at Saudi Central Bank
Fahad Almubarak returns for a second stint as governor of Sama
Saudis and UAE say shared CBDC is technically possible
“Project Aber” shows DLT can be used to upgrade cross-border payments, central banks say
Sama changes name again under new central bank law
Law change updates and clarifies central bank’s role and responsibilities
Sama launches polymer version of five-riyal banknote
New note will circulate alongside existing cotton banknotes
Sama injects $13 billion as banks prepare to reopen
Saudi central bank directs financial firms to “gradually return” to normal operations
Four Gulf states cut rates following Fed decision
Bahrain, Qatar, Saudi Arabia and UAE have currencies pegged to US dollar
Saudi central bank fines 16 commercial lenders
Country’s largest banks fined in what may be part of crackdown on consumer finance abuses
Vocalink and IBM to provide Saudi faster payments system
Instant payment system slated for launch at the end of 2020
The winners of the 2019 Central Banking Awards
MAS wins central bank of the year, Karnit Flug awarded governor of the year and Zhou Xiaochuan recognised for lifetime achievement; 23 other awards announced
UAE central bank and Sama partner for blockchain project
New system will provide central financial transfer system that aims to make the process of remittance payments more efficient
Central Banking Awards: third round goes live
Prizes unveiled for economics, website, risk management, professional services, data and more
Risk manager: Saudi Arabian Monetary Authority
A multi-year overhaul of the Saudi central bank’s risk architecture has come to fruition, resulting in radical changes in behaviour
Advisory services: Deloitte
Deloitte has a growing central bank footprint, including new projects on strategy and cyber resilience in Canada, fintech in Saudi Arabia and DLT in Hong Kong
Saudi SWF seeks massive bank loan as Aramco’s IPO is delayed
PIF intends to increase its assets to $400 billion in 2020 from $224 billion in 2017
Saudi investment fund boosts technology portfolio
The fund has reportedly acquired 3-5% of US electric car maker Tesla
Saudi Arabia’s Alkholifey on economic restructuring, reserves and cyber security
The Saudi Arabian Monetary Authority’s governor talks to Christopher Jeffery about the restructuring of the Saudi economy, the impact of low oil prices on reserves and anti-money laundering efforts