Saudi Central Bank (Sama)
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
Sama enables blockchain for cross-border payments
Pilot with Ripple will allow domestic banks to settle payments across the xCurrent network; payments infrastructure based on the Interledger Protocol
Saudi and UAE central banks freeze hundreds of bank accounts
Local sources say newly installed crown prince is moving against other senior royals
The winners of the 2017 Central Banking Awards
Bank of England wins Central Bank of the Year, while Carlos Fernández Valdovinos picks up Governor of the Year; Donald Kohn receives Lifetime Achievement Award; 15 more awards unveiled
Bank of Israel and Sama triumph in latest Central Banking Awards
Middle Eastern central banks take home Reserve manager and initiative of the year in Central Banking’s 2017 awards; market practitioners prove it is possible to weather volatile markets
Initiative of the year: Saudi Arabian Monetary Authority’s compliance standards activation project
Sama has made a strong start in its efforts to develop an enterprise-wide risk management culture