The Governor of the Saudi Arabian Monetary Agency (SAMA) Hamad bin Saud Al-Sayyari said that there is no change in monetary policy of the Kingdom of Saudi Arabia. Addressing a press conference here today to shed light on SAMA's 44th annual report submitted last Monday to the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud, Al-Sayyari said "There are several key challenges facing the Saudi economy, including diversifying economic structure, achieving the adequacy of the economy and curbing the rate of inflation", describing the last one as the greatest of all. He expected growth to continue this year, pointing out that the private sector and non-oil exports have grown with good rates. SAMA Governor confirmed that there is no shortage of liquidity in the Saudi banks, citing the growth of lending in the Kingdom. He dashed out worries about reports that the global financial crises would have negative impact on Saudi banks. "SAMA runs its foreign investments in a very conservative manner", Al-Sayyari stated. -- More
