Saudi Arabia: Financial Sector Assessment Program-Financial System Stability Assessment

September 4, 2024

Preview Citation

Format: Chicago

Saudi Arabia: Financial Sector Assessment Program-Financial System Stability Assessment, (USA: International Monetary Fund, 2024) accessed September 14, 2024

Summary

The FSAP took place against the backdrop of a robust economy driven by an ambitious state-led transformation agenda to accelerate Saudi Arabia’s economic diversification (Vision 2030). The Kingdom’s sovereign wealth fund plays a key role in implementing and funding the economic transformation. The government’s initiative to promote homeownership and new economic sectors generated a surge in construction and credit. Managed by the National Development Fund, twelve state-owned development funds are undergoing major reforms, increasing their linkages with banks. At over 75 percent of total assets, the share of Islamic products in Saudi banks is one of the largest in the world.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Commercial banks, Crime, Financial institutions, Financial regulation and supervision, Financial sector policy and analysis, Financial sector stability, Macroprudential policy

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), B. bank stress tests, Commercial banks, Coverage ratio, Financial sector stability, Global, Liquidation framework, Liquidity stress scenario, Macroprudential policy, Mission chief World Bank, World Bank FSAP team member

Publication Details

Pages:

65
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2024/281
Stock No:

1SAUEA2024002
ISBN:

9798400288074
ISSN:

1934-7685

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