Riyadh – Governor of the Saudi Arabian Monetary Authority (SAMA), Ahmed Alkholifey, said the authority is currently studying extending SAMA’s stimulus plans relating to payment deferral until the end of the first quarter (Q1) of 2021.

In an interview with Al Arabiya TV, Alkholifey said that the banking sector, like other segments, was affected by the coronavirus crisis, but the pandemic's impact was cushioned as SAMA intervened and injected liquidity.

He added that what matters during times of crises is the quality of assets, stressing SAMA’s hope to lessen the pandemic effect through the programmes it launched.

Moreover, the governor saw no need to inject more liquidity into the banking sector as it enjoys very high levels of liquidity.

Speaking about the recent amendments to change SAMA’s name to the Saudi Central Bank, he pointed out that neither of the sectors SAMA supervises nor the monetary policy will differ afterwards.

Furthermore, he highlighted that updating the system, which was first incorporated in 1957, is crucial to keep pace with the changes.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.