ياهو ياعالم بانهبل ترى

[TURKI ALharbi]

Exercise of the Saudi Arabian Monetary Agency, played a "significant" in the consolidation and development of the Saudi financial system. Where it was not of the Kingdom of the institution at the monetary system of its own. The foreign currencies in circulation in the Kingdom as a means of exchange, along with Saudi silver coins. As the banknotes issued. There was no presence of any Saudi bank, and was one of the first tasks of the institution in the first phase of its establishment is to develop and find a Saudi currency supported. SAMA also paid attention to "special" to the need to encourage the growth of a national banking system. The Foundation is also focused during the period from 1960 to 1972 on the banking systems in light of the expansion of business banking and the Kingdom's acceptance of Article VIII of the Convention on the International Monetary Fund in March 1961 under which the riyal becomes fully convertible. And focused the attention of the Foundation during the period from 1973 to 1982 to contain inflationary pressures in the booming economy and expansion of the banking system and management of massive foreign exchange reserves. The main priorities of the institution as "from the mid-eighties in the reforms in the financial market. It also multiplied the responsibilities of the institution through the years with the development and growth of the economy and the expansion of the financial system.