IMF Staff Country Reports

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

Publication Date:

September 4, 2024

Electronic Access:

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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.

Series:

Country Report No. 2024/281

Subject:

Anti-money laundering and combating the financing of terrorism (AML/CFT) Commercial banks Credit Crime Financial institutions Financial regulation and supervision Financial Sector Assessment Program Financial sector policy and analysis Financial sector stability Liquidity requirements Loans Money Prices Real estate prices Stress testing

Frequency:

regular